IRIS Accounts Production v24.1.4.33 09380601 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093806012023-03-31093806012024-03-31093806012023-04-012024-03-31093806012022-03-31093806012022-04-012023-03-31093806012023-03-3109380601ns15:EnglandWales2023-04-012024-03-3109380601ns14:PoundSterling2023-04-012024-03-3109380601ns10:Director12023-04-012024-03-3109380601ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109380601ns10:SmallEntities2023-04-012024-03-3109380601ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109380601ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109380601ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109380601ns10:AbridgedAccounts2023-04-012024-03-3109380601ns10:RegisteredOffice2023-04-012024-03-3109380601ns5:CurrentFinancialInstruments2024-03-3109380601ns5:CurrentFinancialInstruments2023-03-3109380601ns5:Non-currentFinancialInstruments2024-03-3109380601ns5:Non-currentFinancialInstruments2023-03-3109380601ns5:ShareCapital2024-03-3109380601ns5:ShareCapital2023-03-3109380601ns5:RetainedEarningsAccumulatedLosses2024-03-3109380601ns5:RetainedEarningsAccumulatedLosses2023-03-3109380601ns5:ComputerEquipment2023-04-012024-03-31
REGISTERED NUMBER: 09380601 (England and Wales)















BAR ASSOCIATES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BAR ASSOCIATES LTD (REGISTERED NUMBER: 09380601)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BAR ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr R A King





REGISTERED OFFICE: Jacob's Pool House
11 West Street
Okehampton
Devon
EX20 1HQ





REGISTERED NUMBER: 09380601 (England and Wales)





ACCOUNTANTS: My Business Centre Limited
Jacob's Pool House
11 West Street
Okehampton
Devon
EX20 1HQ

BAR ASSOCIATES LTD (REGISTERED NUMBER: 09380601)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 464 816

CURRENT ASSETS
Debtors 26,001 18,457
Cash at bank 34,399 33,610
60,400 52,067
CREDITORS
Amounts falling due within one year 42,197 28,996
NET CURRENT ASSETS 18,203 23,071
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,667

23,887

CREDITORS
Amounts falling due after more than one
year

9,074

16,852
NET ASSETS 9,593 7,035

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,493 6,935
SHAREHOLDERS' FUNDS 9,593 7,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BAR ASSOCIATES LTD (REGISTERED NUMBER: 09380601)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 June 2024 and were signed by:





Mr R A King - Director


BAR ASSOCIATES LTD (REGISTERED NUMBER: 09380601)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

BAR Associates Ltd 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.

BAR have used the time during a slow-down in revenues as a result of COVID-19 and the core market (Defence and Security) undergoing a government spending review, to accelerate the engagement of new clients in order to establish a broader portfolio from which a larger range of opportunity can be generated.

Careful cost control in line with realigning the business has limited the impact of reduced revenues and so presents a solid foundation for re-establishing the business into profit in the coming years. This strategy has seen a significant increase in forecast revenue potential and has attracted the interest of strategic partnerships which offer the potential for international market diversification into the US and Europe. This is being achieved through tighter integration with key Associates who are primed to support this growth and expansion agenda under a shared risk and reward model.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

BAR ASSOCIATES LTD (REGISTERED NUMBER: 09380601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 2,214
DEPRECIATION
At 1 April 2023 1,398
Charge for year 352
At 31 March 2024 1,750
NET BOOK VALUE
At 31 March 2024 464
At 31 March 2023 816