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REGISTERED NUMBER: 03443042 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 October 2023

for

Barely Breaking Even Limited

Barely Breaking Even Limited (Registered number: 03443042)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Barely Breaking Even Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: P Adarkwah





SECRETARY: Ms M L Jordan





REGISTERED OFFICE: Arch 376
10 Helmsley Place
London
E8 3SB





REGISTERED NUMBER: 03443042 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Barely Breaking Even Limited (Registered number: 03443042)

Balance Sheet
31 October 2023

31.10.22 31.10.23
£    £    Notes £    £   
FIXED ASSETS
7,833 Tangible assets 4 37,837

CURRENT ASSETS
320 Stocks 320
175,303 Debtors 5 175,112
6,413 Cash at bank and in hand 107,194
182,036 282,626
CREDITORS
202,280 Amounts falling due within one year 6 959,212
(20,244 ) NET CURRENT LIABILITIES (676,586 )
(12,411 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(638,749

)

CREDITORS
30,801 Amounts falling due after more than one
year

7

24,111
(43,212 ) NET LIABILITIES (662,860 )

CAPITAL AND RESERVES
2 Called up share capital 2
(43,214 ) Retained earnings (662,862 )
(43,212 ) SHAREHOLDERS' FUNDS (662,860 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Barely Breaking Even Limited (Registered number: 03443042)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2024 and were signed by:





P Adarkwah - Director


Barely Breaking Even Limited (Registered number: 03443042)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Barely Breaking Even Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Barely Breaking Even Limited (Registered number: 03443042)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 17,343
Additions 36,582
At 31 October 2023 53,925
DEPRECIATION
At 1 November 2022 9,510
Charge for year 6,578
At 31 October 2023 16,088
NET BOOK VALUE
At 31 October 2023 37,837
At 31 October 2022 7,833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 102,864 94,094
Other debtors 72,248 81,209
175,112 175,303

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 11,565 27,218
Trade creditors 99,256 86,508
Taxation and social security 26,290 30,033
Other creditors 822,101 58,521
959,212 202,280

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 24,111 30,801

8. POST BALANCE SHEET EVENTS

There were no post balance sheet events which require being brought to the attention of the shareholders or creditors.

Barely Breaking Even Limited (Registered number: 03443042)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. GOING CONCERN

At the year end the company had a net deficiency of assets of £662,860 (31 October 2022 £43,212). The director has undertaken to support the company financially until the situation has been fully redressed. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.