Registered number
11123434
Barry's Cash & Carry Ltd
Report and Abridged Accounts
31 January 2023
Barry's Cash & Carry Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6
Barry's Cash & Carry Ltd
Company Information
Directors
Miss Sajidah Khatoon Khaliq
Accountants
Abacus Business Advisors Ltd
166 King Cross Road
Halifax
West Yorkshire
HX1 3LN
Bankers
Barclay's
Registered office
163 King Cross Road
Halifax
West Yorkshire
HX1 3LN
Registered number
11123434
Barry's Cash & Carry Ltd
Registered number: 11123434
Directors' Report
The directors present their report and abridged accounts for the year ended 31 January 2023.
Principal activities
The company's principal activity during the year continued to be sale of Confectionery items.
Directors
The following persons served as directors during the year:
Miss Sajidah Khatoon Khaliq
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 28 August 2024 and signed on its behalf.
Miss Sajidah Khatoon Khaliq
Director
Barry's Cash & Carry Ltd
Abridged Profit and Loss Account
for the year ended 31 January 2023
2023 2022
£ £
Gross profit 244,592 123,221
Administrative expenses (200,782) (104,858)
Other operating income 11,874 5,850
Operating profit 55,684 24,213
Profit before taxation 55,684 24,213
Tax on profit (10,790) (4,863)
Profit for the financial year 44,894 19,350
Barry's Cash & Carry Ltd
Registered number: 11123434
Abridged Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 22,000 12,000
Tangible assets 4 4,424 5,530
26,424 17,530
Current assets
Stocks 88,000 78,000
Debtors 30,000 -
Cash at bank and in hand 22,339 44,338
140,339 122,338
Creditors: amounts falling due within one year (127,886) (95,894)
Net current assets 12,453 26,444
Total assets less current liabilities 38,877 43,974
Creditors: amounts falling due after more than one year (32,476) (43,467)
Net assets 6,401 507
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,301 407
Shareholders' funds 6,401 507
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Miss Sajidah Khatoon Khaliq
Director
Approved by the board on 28 August 2024
Barry's Cash & Carry Ltd
Statement of Changes in Equity
for the year ended 31 January 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2021 100 - - 1,557 1,657
Profit for the period 19,350 19,350
Dividends (20,500) (20,500)
At 31 January 2022 100 - - 407 507
At 1 February 2022 100 - - 407 507
Profit for the financial year 44,894 44,894
Dividends (39,000) (39,000)
At 31 January 2023 100 - - 6,301 6,401
Barry's Cash & Carry Ltd
Notes to the Abridged Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 12,000
Additions 10,000
At 31 January 2023 22,000
Amortisation
At 31 January 2023 -
Net book value
At 31 January 2023 22,000
At 31 January 2022 12,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Total
£
Cost
At 1 February 2022 11,000
At 31 January 2023 11,000
Depreciation
At 1 February 2022 5,470
Charge for the year 1,106
At 31 January 2023 6,576
Net book value
At 31 January 2023 4,424
At 31 January 2022 5,530
5 Other information
Barry's Cash & Carry Ltd is a private company limited by shares and incorporated in England. Its registered office is:
163 King Cross Road
Halifax
West Yorkshire
HX1 3LN
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