Company registration number 05065299 (England and Wales)
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,290
4,443
Investments
4
100
100
10,390
4,543
Current assets
Debtors
5
161,560
251,165
Cash at bank and in hand
487,676
364,137
649,236
615,302
Creditors: amounts falling due within one year
6
(168,643)
(202,739)
Net current assets
480,593
412,563
Net assets
490,983
417,106
Capital and reserves
Called up share capital
102
102
Profit and loss reserves
490,881
417,004
Total equity
490,983
417,106
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Mr M A Lloyd
Miss A F Vaughan
Director
Director
Company Registration No. 05065299
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Lloyd Barnes Accountancy Recruitment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wisteria House, South Zeal, Okehampton, Devon, EX20 2LA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20%, 33% or 50% per annum on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Taxation
The tax expense represents tax currently payable.
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
7
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
62,483
Additions
10,904
At 31 December 2023
73,387
Depreciation and impairment
At 1 January 2023
58,040
Depreciation charged in the year
5,057
At 31 December 2023
63,097
Carrying amount
At 31 December 2023
10,290
At 31 December 2022
4,443
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
73,473
124,797
Amounts owed by group undertakings
16,022
Other debtors
72,065
126,368
161,560
251,165
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,512
3,173
Amounts owed to group undertakings
100
100
Taxation and social security
113,522
145,304
Other creditors
50,509
54,162
168,643
202,739
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
Within one year
11,250
11,250
LLOYD BARNES ACCOUNTANCY RECRUITMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two Directors
2.25
105,162
75,319
1,150
(123,000)
58,631
105,162
75,319
1,150
(123,000)
58,631
The aforementioned advances are unsecured and repayable on demand.