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REGISTERED NUMBER: 04231277 (England and Wales)















GEORGE BARNSDALE COMMERCIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






GEORGE BARNSDALE COMMERCIAL LIMITED (REGISTERED NUMBER: 04231277)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


GEORGE BARNSDALE COMMERCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S C Wright
Mr S Dixon
Mr T Wright
Mr L Kam



SECRETARY: Mr J A Walton



REGISTERED OFFICE: High Street
Donington
Spalding
Lincs
PE11 4TA



REGISTERED NUMBER: 04231277 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT



SOLICITORS: Chattertons
28 Wide Bargate
Boston
Lincolnshire
PE21 6RT

GEORGE BARNSDALE COMMERCIAL LIMITED (REGISTERED NUMBER: 04231277)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,291 -

CURRENT ASSETS
Stocks 1,278,360 755,000
Debtors 5 318,808 83,127
Cash at bank 267,361 224,464
1,864,529 1,062,591
CREDITORS
Amounts falling due within one year 6 1,579,925 829,027
NET CURRENT ASSETS 284,604 233,564
TOTAL ASSETS LESS CURRENT LIABILITIES 285,895 233,564

PROVISIONS FOR LIABILITIES 258 -
NET ASSETS 285,637 233,564

CAPITAL AND RESERVES
Called up share capital 8 140 140
Capital redemption reserve 40 40
Retained earnings 285,457 233,384
SHAREHOLDERS' FUNDS 285,637 233,564

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

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

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 11 November 2024 and were signed on its behalf by:




Mr S C Wright - Director



Mr T Wright - Director


GEORGE BARNSDALE COMMERCIAL LIMITED (REGISTERED NUMBER: 04231277)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

George Barnsdale Commercial 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.

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 amounts chargeable to customers for the installation of timber windows during the year, excluding value added tax. Revenue is recognised in the period in which windows are installed.

Stocks
Work in progress is valued at the lower of cost and estimated selling price less cost to sell.

Cost is calculated using the first-in, first-out method and includes all purchases, transport, and handling costs in bringing the stock to their present location and condition.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 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.

GEORGE BARNSDALE COMMERCIAL LIMITED (REGISTERED NUMBER: 04231277)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 1,516
At 31 March 2024 1,516
DEPRECIATION
Charge for year 225
At 31 March 2024 225
NET BOOK VALUE
At 31 March 2024 1,291

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,105 18,433
Other debtors 185,703 64,694
318,808 83,127

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 980,576 651,705
Taxation and social security 20,749 14,811
Other creditors 578,600 162,511
1,579,925 829,027

7. SECURED DEBTS

A debenture dated 6 April 2010 is in place in relation to Lloyds TSB Bank plc. This is a fixed and floating charge over the undertaking and includes all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

An Omnibus guarantee and set-off agreement was put in place on 12 June 2018. The agreement is between George Barnsdale Commercial Limited (previously known as George Barnsdale & Sons Limited) and Others and Lloyds Bank plc.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
140 Ordinary £1 140 140