Registered number
06821363
M W Barber Associates Limited
Unaudited Filleted Accounts
31 March 2024
M W Barber Associates Limited
Registered number: 06821363
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 12,499 29,166
Tangible assets 4 1 319
12,500 29,485
Current assets
Debtors 5 169,209 69,673
Cash at bank and in hand 12,586 41,172
181,795 110,845
Creditors: amounts falling due within one year 6 (132,793) (107,847)
Net current assets 49,002 2,998
Total assets less current liabilities 61,502 32,483
Creditors: amounts falling due after more than one year 7 (12,656) (24,903)
Provisions for liabilities (58) (58)
Net assets 48,788 7,522
Capital and reserves
Called up share capital 100 100
Profit and loss account 48,688 7,422
Shareholders' funds 48,788 7,522
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.
M W Barber
Director
Approved by the board on 22 November 2024
M W Barber Associates Limited
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.
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:
Plant and machinery 20% straight line
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.
Government grants
Government grants are recognised at a fair value of the assest received or receivable, when there is reasonable assurance that the company will comply with the conditions attaching to the them and the grants will be received using the performance/accrual model.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 250,000
At 31 March 2024 250,000
Amortisation
At 1 April 2023 220,834
Provided during the year 16,667
At 31 March 2024 237,501
Net book value
At 31 March 2024 12,499
At 31 March 2023 29,166
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 7,978
At 31 March 2024 7,978
Depreciation
At 1 April 2023 7,659
Charge for the year 318
At 31 March 2024 7,977
Net book value
At 31 March 2024 1
At 31 March 2023 319
5 Debtors 2024 2023
£ £
Trade debtors 52,677 35,325
Other debtors 116,532 34,348
169,209 69,673
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 46,651 30,470
Trade creditors 1,920 9,046
Corporation tax 58,845 38,759
Other taxes and social security costs 19,181 24,071
Other creditors 6,196 5,501
132,793 107,847
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,656 24,903
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 59,307 55,373
Bank loans and overdrafts are secured by personal guarantees given by its directors.
9 Loans to directors
Interest free loans B/fwd Paid Repaid C/fwd
£ £ £ £
M W Barber
Loan 1 17,174 - (17,174) -
Loan 2 - 58,266 - 58,266
J Barber
Loan 1 17,174 - (17,174) -
Loan 2 - 58,266 - 58,266
34,348 116,532 (34,348) 116,532
10 Related party transactions
During the year MW Barber and J Barber directors received dividends amounting to £35,000 each.
11 Other information
M W Barber Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
33A Market street
Marple
Cheshire
SK6 1NB
M W Barber Associates Limited 06821363 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 M W Barber No description of principal activity 06821363 2022-04-01 2023-03-31 06821363 core:WithinOneYear 2023-03-31 06821363 core:AfterOneYear 2023-03-31 06821363 core:ShareCapital 2023-03-31 06821363 core:RetainedEarningsAccumulatedLosses 2023-03-31 06821363 2023-04-01 2024-03-31 06821363 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06821363 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06821363 bus:Director40 2023-04-01 2024-03-31 06821363 1 2023-04-01 2024-03-31 06821363 2 2023-04-01 2024-03-31 06821363 core:Goodwill 2023-04-01 2024-03-31 06821363 core:PlantMachinery 2023-04-01 2024-03-31 06821363 bus:Director1 2023-04-01 2024-03-31 06821363 bus:Director1 1 2023-04-01 2024-03-31 06821363 bus:Director1 2 2023-04-01 2024-03-31 06821363 bus:Director2 2023-04-01 2024-03-31 06821363 bus:Director2 1 2023-04-01 2024-03-31 06821363 bus:Director2 2 2023-04-01 2024-03-31 06821363 countries:England 2023-04-01 2024-03-31 06821363 bus:FRS102 2023-04-01 2024-03-31 06821363 bus:FilletedAccounts 2023-04-01 2024-03-31 06821363 2024-03-31 06821363 core:WithinOneYear 2024-03-31 06821363 core:AfterOneYear 2024-03-31 06821363 core:ShareCapital 2024-03-31 06821363 core:RetainedEarningsAccumulatedLosses 2024-03-31 06821363 core:Goodwill 2024-03-31 06821363 core:PlantMachinery 2024-03-31 06821363 bus:Director1 1 2024-03-31 06821363 bus:Director1 2 2024-03-31 06821363 bus:Director2 1 2024-03-31 06821363 bus:Director2 2 2024-03-31 06821363 2023-03-31 06821363 core:Goodwill 2023-03-31 06821363 core:PlantMachinery 2023-03-31 06821363 bus:Director1 1 2023-03-31 06821363 bus:Director1 2 2023-03-31 06821363 bus:Director2 1 2023-03-31 06821363 bus:Director2 2 2023-03-31 iso4217:GBP xbrli:pure