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REGISTERED NUMBER: 05708050 (England and Wales)















BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: C Hughes
M Barratt





SECRETARY: M Barratt





REGISTERED OFFICE: Unit 6
Bridgeman House
77 Bridgeman Street
Bolton
BL3 6BY





REGISTERED NUMBER: 05708050 (England and Wales)





ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 100,152 73,730
100,152 73,730

CURRENT ASSETS
Inventories 7,200 2,000
Debtors 6 194,185 196,091
Cash at bank and in hand 75,093 16,535
276,478 214,626
CREDITORS
Amounts falling due within one year 7 (176,731 ) (139,556 )
NET CURRENT ASSETS 99,747 75,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,899

148,800

CREDITORS
Amounts falling due after more than one
year

8

(22,502

)

(35,628

)
NET ASSETS 177,397 113,172

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 3,470 3,470
Capital redemption reserve 12 12
Retained earnings 173,815 109,590
SHAREHOLDERS' FUNDS 177,397 113,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





C Hughes - Director


BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Barratt & Hughes Flooring Specialists Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05708050 and its registered office address is Unit 6, Bridgeman House, 77 Bridgeman Street, Bolton, BL3 6BY.

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.

Significant judgements and estimates
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.

Revenue
Revenue represents the value of the sale of goods and services provided, net of value added tax.

Revenue is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value performed. Revenue is not recognised where the right to receive payment is contingent on events outside the control of the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its estimated useful life of ten years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 10% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents actual purchase price and includes any expenditure incurred in bringing the inventories to its present location and condition. Net realisable value is estimated selling price less costs to complete and sell.

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

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 accounts receivable and payable, loans from banks and other third parties and loans from related parties.

Financial assets that are measured at cost and amortised cost 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 recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 the income statement in the period to which they relate.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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.

Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 56,000
AMORTISATION
At 1 March 2023
and 29 February 2024 56,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 March 2023 139,531
Additions 46,000
Disposals (21,930 )
At 29 February 2024 163,601
DEPRECIATION
At 1 March 2023 65,801
Charge for year 16,816
Eliminated on disposal (19,168 )
At 29 February 2024 63,449
NET BOOK VALUE
At 29 February 2024 100,152
At 28 February 2023 73,730

The net book value of assets held under hire purchase contracts at the year end is £9,963 (2023: £13,284).

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 136,459 157,653
Other debtors 57,726 38,438
194,185 196,091

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,189 9,911
Hire purchase contracts (see note 9) 2,965 2,965
Trade creditors 91,417 64,184
Taxation and social security 49,433 30,157
Other creditors 22,727 32,339
176,731 139,556

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,950 24,111
Hire purchase contracts (see note 9) 8,552 11,517
22,502 35,628

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,965 2,965
Between one and five years 8,552 11,517
11,517 14,482

Non-cancellable operating leases
2024 2023
£    £   
Within one year 14,000 13,883
Between one and five years 2,333 16,333
16,333 30,216

BARRATT & HUGHES FLOORING SPECIALISTS
LIMITED (REGISTERED NUMBER: 05708050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 11,517 14,482

Hire purchase contracts are secured over the assets to which they relate.