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REGISTERED NUMBER: 03206634 (England and Wales)









Financial Statements

for the Year Ended

30 September 2023

for

Barrett Firrell Limited

Barrett Firrell Limited (Registered number: 03206634)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Barrett Firrell Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr G. Barrett
Mr H Clifford





SECRETARY: Mrs F McKenzie





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 03206634 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Barrett Firrell Limited (Registered number: 03206634)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 - -
Investment property 6 1,300,000 1,300,000
1,300,000 1,300,000

CURRENT ASSETS
Inventories 1,500 5,000
Debtors 7 113,063 97,241
Cash at bank 415,117 658,334
529,680 760,575
CREDITORS
Amounts falling due within one year 8 (43,219 ) (110,313 )
NET CURRENT ASSETS 486,461 650,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,786,461

1,950,262

PROVISIONS FOR LIABILITIES (169,001 ) (128,441 )
NET ASSETS 1,617,460 1,821,821

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 690,081 730,641
Retained earnings 927,279 1,091,080
SHAREHOLDERS' FUNDS 1,617,460 1,821,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Barrett Firrell Limited (Registered number: 03206634)

Statement of Financial Position - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mr G. Barrett - Director


Barrett Firrell Limited (Registered number: 03206634)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Barrett Firrell 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales of services made during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Barrett Firrell Limited (Registered number: 03206634)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 86,000
AMORTISATION
At 1 October 2022
and 30 September 2023 86,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 30 September 2023 23,299
DEPRECIATION
At 1 October 2022
and 30 September 2023 23,299
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 1,300,000
NET BOOK VALUE
At 30 September 2023 1,300,000
At 30 September 2022 1,300,000

The investment property was revalued by the Directors on 30th September 2023. In their opinion there is no material difference from the previous valuation in the financial statements.

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2013 509,082
Valuation in 2016 350,000
Cost 440,918
1,300,000

Barrett Firrell Limited (Registered number: 03206634)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 440,918 440,918

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,539 19,969
Other debtors 3,279 1,179
Directors' current accounts 74,299 72,093
Tax 17,767 -
Prepayments and accrued income 4,179 4,000
113,063 97,241

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 7,626 76,362
Other creditors 35,593 33,951
43,219 110,313

9. RESERVES
Fair
value
reserve
£   
At 1 October 2022 730,641
Reserve transfer (40,560 )

At 30 September 2023 690,081

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mr H Clifford
Balance outstanding at start of year 36,046 -
Amounts advanced 37,149 36,046
Amounts repaid (36,046 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,149 36,046

Barrett Firrell Limited (Registered number: 03206634)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr G. Barrett
Balance outstanding at start of year 36,047 -
Amounts advanced 37,149 36,047
Amounts repaid (36,047 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,149 36,047

Interest is charged on director loans at a fair market rate.