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REGISTERED NUMBER: 05624540 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

BARNES FENCING SUPPLIES LIMITED

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARNES FENCING SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr P A Barnes
Mrs P M Barnes





SECRETARY: Mr P A Barnes





REGISTERED OFFICE: 39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB





REGISTERED NUMBER: 05624540 (England and Wales)





ACCOUNTANTS: Meades Group Limited
39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,375 5,875
Tangible assets 5 107,991 152,779
112,366 158,654

CURRENT ASSETS
Stocks 158,312 148,220
Debtors 6 448,058 417,842
Investments 7 562,000 547,000
Cash at bank and in hand 205,242 257,946
1,373,612 1,371,008
CREDITORS
Amounts falling due within one
year

8

307,906

342,987
NET CURRENT ASSETS 1,065,706 1,028,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,178,072

1,186,675

CREDITORS
Amounts falling due after more
than one year

9

(96,756

)

(136,717

)

PROVISIONS FOR LIABILITIES (26,998 ) (29,028 )
NET ASSETS 1,054,318 1,020,930

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

BALANCE SHEET - continued
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings 1,054,117 1,020,729
SHAREHOLDERS' FUNDS 1,054,318 1,020,930

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 9th August 2024 and were signed on its behalf by:





Mr P A Barnes - Director


BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Barnes Fencing Supplies 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.

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 for the supply of fencing and allied supplies, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 stocks to their present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Current asset investments
Current asset investments are included at cost. Income attributable to the asset is written off to the profit and loss in the period it occurs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 30,000
AMORTISATION
At 1st January 2023 24,125
Charge for year 1,500
At 31st December 2023 25,625
NET BOOK VALUE
At 31st December 2023 4,375
At 31st December 2022 5,875

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 7,500 99,508 235,956 9,036 352,000
Disposals - - (25,000 ) - (25,000 )
At 31st December
2023

7,500

99,508

210,956

9,036

327,000
DEPRECIATION
At 1st January 2023 7,429 97,700 87,630 6,462 199,221
Charge for year 18 452 35,800 644 36,914
Eliminated on disposal - - (17,126 ) - (17,126 )
At 31st December
2023

7,447

98,152

106,304

7,106

219,009
NET BOOK VALUE
At 31st December
2023

53

1,356

104,652

1,930

107,991
At 31st December
2022

71

1,808

148,326

2,574

152,779

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 21,731 30,681
Other debtors 413,320 344,664
Directors' current accounts - 28,599
Prepayments 13,007 13,898
448,058 417,842

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 562,000 547,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 121,447 199,509
Pension contributions payable 1,511 1,574
Corporation tax 72,317 58,275
VAT 30,670 42,842
Directors' current accounts 41,961 -
Accrued expenses - 787
307,906 342,987

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans more than a year 96,756 136,717

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
Mr P A Barnes and Mrs P M Barnes
Balance outstanding at start of year 28,599 39,688
Amounts advanced 49,991 58,671
Amounts repaid (120,551 ) (69,760 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (41,961 ) 28,599

BARNES FENCING SUPPLIES LIMITED (REGISTERED NUMBER: 05624540)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

11. RELATED PARTY DISCLOSURES

The directors' current account balances included within creditors of £41,961 (2022- debtors of £28,599) have no fixed date for repayment, are repayable upon demand and are non-interest bearing.