IRIS Accounts Production v24.3.0.553 04249019 director 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042490192023-07-31042490192024-07-31042490192023-08-012024-07-31042490192022-07-31042490192022-08-012023-07-31042490192023-07-3104249019ns15:EnglandWales2023-08-012024-07-3104249019ns14:PoundSterling2023-08-012024-07-3104249019ns10:Director12023-08-012024-07-3104249019ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3104249019ns10:SmallEntities2023-08-012024-07-3104249019ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3104249019ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3104249019ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3104249019ns10:FullAccounts2023-08-012024-07-3104249019ns10:RegisteredOffice2023-08-012024-07-3104249019ns5:CurrentFinancialInstruments2024-07-3104249019ns5:CurrentFinancialInstruments2023-07-3104249019ns5:ShareCapital2024-07-3104249019ns5:ShareCapital2023-07-3104249019ns5:RetainedEarningsAccumulatedLosses2024-07-3104249019ns5:RetainedEarningsAccumulatedLosses2023-07-3104249019ns5:FurnitureFittings2023-08-012024-07-3104249019ns5:ComputerEquipment2023-08-012024-07-3104249019ns5:FurnitureFittings2023-07-3104249019ns5:ComputerEquipment2023-07-3104249019ns5:FurnitureFittings2024-07-3104249019ns5:ComputerEquipment2024-07-3104249019ns5:FurnitureFittings2023-07-3104249019ns5:ComputerEquipment2023-07-3104249019ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-07-3104249019ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3104249019ns5:CurrentFinancialInstruments2023-08-012024-07-31
















BARRON FINANCIAL SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024






BARRON FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 04249019)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BARRON FINANCIAL SOLUTIONS LTD

COMPANY INFORMATION
for the Year Ended 31st July 2024







DIRECTOR: Mr D J Barron





REGISTERED OFFICE: Heritage House
9b Hoghton Street
Southport
Merseyside
PR9 0TE





REGISTERED NUMBER: 04249019 (England and Wales)





ACCOUNTANTS: Garner & Associates Ltd
Liverpool Road Studios
Suites 3 & 4
113 Liverpool Road
Crosby
Merseyside
L23 5TD

BARRON FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 04249019)

BALANCE SHEET
31st July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,395 18,165

CURRENT ASSETS
Debtors 5 46,878 453,290
Cash at bank 71,755 220,487
118,633 673,777
CREDITORS
Amounts falling due within one year 6 52,453 265,456
NET CURRENT ASSETS 66,180 408,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,575

426,486

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80,475 426,386
SHAREHOLDERS' FUNDS 80,575 426,486

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st November 2024 and were signed by:





Mr D J Barron - Director


BARRON FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 04249019)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Barron Financial Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents commissions and fees receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% 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.

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.

BARRON FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 04249019)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to third parties.

Debt instruments (other than those wholly repayable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in the income statement and retained earnings.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the income statement and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognized as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st August 2023
and 31st July 2024 135,456 51,514 186,970
DEPRECIATION
At 1st August 2023 132,681 36,124 168,805
Charge for year 695 3,075 3,770
At 31st July 2024 133,376 39,199 172,575
NET BOOK VALUE
At 31st July 2024 2,080 12,315 14,395
At 31st July 2023 2,775 15,390 18,165

BARRON FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 04249019)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st July 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,878 453,290

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 39,631 166,026
Taxation and social security 12,822 99,430
52,453 265,456