6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 730,295 73,094 82,914 100,076 820,551 820,551 730,295 xbrli:pure xbrli:shares iso4217:GBP SC208309 2023-04-01 2024-03-31 SC208309 2024-03-31 SC208309 2023-03-31 SC208309 2022-04-01 2023-03-31 SC208309 2023-03-31 SC208309 2022-03-31 SC208309 bus:Director2 2023-04-01 2024-03-31 SC208309 core:LandBuildings 2023-03-31 SC208309 core:PlantMachinery 2023-03-31 SC208309 core:MotorVehicles 2023-03-31 SC208309 core:LandBuildings 2024-03-31 SC208309 core:PlantMachinery 2024-03-31 SC208309 core:MotorVehicles 2024-03-31 SC208309 core:WithinOneYear 2024-03-31 SC208309 core:WithinOneYear 2023-03-31 SC208309 core:ShareCapital 2024-03-31 SC208309 core:ShareCapital 2023-03-31 SC208309 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC208309 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC208309 core:PlantMachinery 2023-04-01 2024-03-31 SC208309 core:MotorVehicles 2023-04-01 2024-03-31 SC208309 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 SC208309 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 SC208309 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 SC208309 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 SC208309 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 SC208309 core:Non-currentFinancialInstruments 2024-03-31 SC208309 core:Non-currentFinancialInstruments 2023-03-31 SC208309 core:PlantMachinery 2023-03-31 SC208309 bus:SmallEntities 2023-04-01 2024-03-31 SC208309 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC208309 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC208309 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC208309 bus:FullAccounts 2023-04-01 2024-03-31 SC208309 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC208309
Bar Knight McLintock Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Bar Knight McLintock Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,246
1,920
Investments
6
820,551
730,295
---------
---------
821,797
732,215
Current assets
Stocks
71,000
67,000
Debtors
7
51,608
77,124
Cash at bank and in hand
409,734
470,081
---------
---------
532,342
614,205
Creditors: amounts falling due within one year
8
148,358
139,040
---------
---------
Net current assets
383,984
475,165
------------
------------
Total assets less current liabilities
1,205,781
1,207,380
------------
------------
Net assets
1,205,781
1,207,380
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,205,681
1,207,280
------------
------------
Shareholders funds
1,205,781
1,207,380
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bar Knight McLintock Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 August 2024 , and are signed on behalf of the board by:
Mrs G Helsby
Director
Company registration number: SC208309
Bar Knight McLintock Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mercantile Chambers, 53 Bothwell Street, Glasgow, G2 6TB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
straight line over life of lease
Plant & Machinery
-
10%, 20% and 33% straight line
Motor Vehichles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 5 ).
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
15,000
94,872
13,987
123,859
--------
--------
--------
---------
Depreciation
At 1 April 2023
15,000
92,952
13,987
121,939
Charge for the year
674
674
--------
--------
--------
---------
At 31 March 2024
15,000
93,626
13,987
122,613
--------
--------
--------
---------
Carrying amount
At 31 March 2024
1,246
1,246
--------
--------
--------
---------
At 31 March 2023
1,920
1,920
--------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023
730,295
Additions
73,094
Disposals
( 82,914)
Revaluations
100,076
---------
At 31 March 2024
820,551
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
820,551
---------
At 31 March 2023
730,295
---------
7. Debtors
2024
2023
£
£
Trade debtors
48,410
74,542
Other debtors
3,198
2,582
--------
--------
51,608
77,124
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
97,611
65,956
Corporation tax
44,222
66,659
Social security and other taxes
2,775
2,675
Other creditors
3,750
3,750
---------
---------
148,358
139,040
---------
---------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
820,551
730,295
---------
---------
10. Related party transactions
L Helsby is a Director and shareholder of LK Needles Limited. During the year the company paid £100,000 in management charges to LK Needles Limited (2023: £100,000) and made purchases of £163,926 (2023: £155,772) from LK Needles Limited. At the year end the company owed LK Needles Limited £86,008 (2023: £54,516). During the year aggregate salaries of £24,000 (2023: £24,000) were paid to the Directors and benefits in kind were £3,089 (2023: £2,984). During the year aggregate dividends of £225,000 (2023: £225,000) were paid to the directors. During the year the company made aggregate contributions to the directors’ pension schemes of £138,000 (2023 : £18,000). No other transactions with related parties were entered into during the year that are required to be disclosed under the terms of FRS 102 Section 1A.