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BARRY MILLERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2024






BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

BARRY MILLERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: S B Miller
Mrs S T Miller





REGISTERED OFFICE: 40 - 42 High Street South
Rushden
Northamptonshire
NN10 0QX





REGISTERED NUMBER: 08608072 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,336 38,711
31,336 38,711

CURRENT ASSETS
Stocks 6 28,910 31,488
Debtors 7 25,075 26,150
Cash at bank and in hand 3,318 6,324
57,303 63,962
CREDITORS
Amounts falling due within one year 8 34,459 36,668
NET CURRENT ASSETS 22,844 27,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,180

66,005

CREDITORS
Amounts falling due after more than one
year

9

(34,766

)

(49,599

)

PROVISIONS FOR LIABILITIES (5,954 ) (7,355 )
NET ASSETS 13,460 9,051

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 13,458 9,049
SHAREHOLDERS' FUNDS 13,460 9,051

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 directors acknowledge their 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.

BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

BALANCE SHEET - continued
31ST JULY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th November 2024 and were signed on its behalf by:




S B Miller - Director



Mrs S T Miller - Director


BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Barry Millers Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents hairdressing services provided to the general public, the sale of salon products and rent received from the hire of shop chairs, stated net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historic cost less accumulated depreciation and any accumulated impairment losses.

Historic cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The board's policy is to only capitalise improvements to rental assets of more than £150 in value, expenditure below this value is treated as revenue expenditure.

Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 40,000
AMORTISATION
At 1st August 2023
and 31st July 2024 40,000
NET BOOK VALUE
At 31st July 2024 -
At 31st July 2023 -

BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st August 2023
and 31st July 2024 10,116 49,590 59,706
DEPRECIATION
At 1st August 2023 6,448 14,547 20,995
Charge for year 366 7,009 7,375
At 31st July 2024 6,814 21,556 28,370
NET BOOK VALUE
At 31st July 2024 3,302 28,034 31,336
At 31st July 2023 3,668 35,043 38,711

The net book value of tangible fixed assets includes £ 28,034 (2023 - £ 35,043 ) in respect of assets held under hire purchase contracts.

6. STOCKS
2024 2023
£    £   
Stocks 28,910 31,488

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,184
Directors' current accounts 22,990 23,447
Prepayments 2,085 519
25,075 26,150

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,802 10,207
Hire purchase contracts 6,032 5,756
Trade creditors 1,672 927
Corporation tax 9,473 9,588
Social security and other taxes 997 535
VAT 1,932 5,354
Other creditors 3,628 2,551
Accrued expenses 1,923 1,750
34,459 36,668

BARRY MILLERS LIMITED (REGISTERED NUMBER: 08608072)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 10,391 19,192
Hire purchase contracts 24,375 30,407
34,766 49,599

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2024 and 31st July 2023:

2024 2023
£    £   
S B Miller
Balance outstanding at start of year 13,439 14,354
Amounts advanced 13,488 17,124
Amounts repaid (13,439 ) (18,039 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,488 13,439

Mrs S T Miller
Balance outstanding at start of year 10,008 9,642
Amounts advanced 9,502 17,131
Amounts repaid (10,008 ) (16,765 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,502 10,008

Interest was charged on the overdrawn balance at a rate of 2.75%.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S B Miller.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BARRY MILLERS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barry Millers Limited for the year ended 31st July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Barry Millers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barry Millers Limited and state those matters that we have agreed to state to the Board of Directors of Barry Millers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barry Millers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Barry Millers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barry Millers Limited. You consider that Barry Millers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barry Millers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


14th November 2024