Registered number
SC404059
BARRY FIMISTER AUTOTINT LTD
Report and Accounts
31 March 2024
BARRY FIMISTER AUTOTINT LTD
Profit and Loss Account
for the year ended 31 March 2024
2024 2023
£ £
Turnover 61,608 59,630
Cost of sales (7,544) (8,711)
Gross profit 54,064 50,919
Administrative expenses (33,334) (30,048)
Other operating income - 5,508
Operating profit 20,730 26,379
Profit on ordinary activities before taxation 20,730 26,379
Tax on profit on ordinary activities (3,954) (5,318)
Profit for the financial year 16,776 21,061
BARRY FIMISTER AUTOTINT LTD
Registered number: SC404059
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 27,960 27,960
Tangible assets 4 2,799 3,499
30,759 31,459
Current assets
Stocks 1,800 1,800
Debtors 5 23,985 10,822
Cash at bank and in hand 7,133 14,184
32,918 26,806
Creditors: amounts falling due within one year 6 (4,624) (5,988)
Net current assets 28,294 20,818
Net assets 59,053 52,277
Capital and reserves
Called up share capital 1 1
Profit and loss account 59,052 52,276
Shareholder's funds 59,053 52,277
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
BARRY FIMISTER
Director
Approved by the board on 9 October 2023
BARRY FIMISTER AUTOTINT LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The 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.
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 20% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 27,960
At 31 March 2024 27,960
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 27,960
At 31 March 2023 27,960
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 3,592 5,500 9,092
At 31 March 2024 899 5,500 6,399
Depreciation
At 1 April 2023 3,357 2,236 5,593
Charge for the year 47 653 700
On disposals (2,693) - (2,693)
At 31 March 2024 711 2,889 3,600
Net book value
At 31 March 2024 188 2,611 2,799
At 31 March 2023 235 3,264 3,499
5 Debtors 2024 2023
£ £
Other debtors 23,985 10,822
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 3,954 5,318
Other creditors 670 670
4,624 5,988
UNIT 14 KIRKCALDY ENTERPRISE CENTRE
MITCHELSTON INDUSTRIAL ESTATE
KIRKCALDY
FIFE
KY1 3NF
BARRY FIMISTER AUTOTINT LTD SC404059 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2022 BARRY FIMISTER No description of principal activity SC404059 2022-04-01 2023-03-31 SC404059 core:WithinOneYear 2023-03-31 SC404059 core:ShareCapital 2023-03-31 SC404059 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC404059 2023-04-01 2024-03-31 SC404059 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC404059 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC404059 bus:Director40 2023-04-01 2024-03-31 SC404059 core:PlantMachinery 2023-04-01 2024-03-31 SC404059 core:Vehicles 2023-04-01 2024-03-31 SC404059 bus:FRS102 2023-04-01 2024-03-31 SC404059 bus:FullAccounts 2023-04-01 2024-03-31 SC404059 2024-03-31 SC404059 core:WithinOneYear 2024-03-31 SC404059 core:ShareCapital 2024-03-31 SC404059 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC404059 core:Goodwill 2024-03-31 SC404059 core:PlantMachinery 2024-03-31 SC404059 core:Vehicles 2024-03-31 SC404059 2023-03-31 SC404059 core:Goodwill 2023-03-31 SC404059 core:PlantMachinery 2023-03-31 SC404059 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure