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Registration number: 03948400

Barr Gazetas Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Barr Gazetas Limited

Contents

Company Information

1

Abridged Statement Of Financial Position

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Barr Gazetas Limited

Company Information

Directors

Mr T Lacey

Mr J Allwood

Mr J Eaglesham

Mr T Jordan

Registered office

35 Heddon Street
London
W1B 4BP

Accountants

CPP,
Chartered Accountants
79 Essex Road
Islington
London
N1 2SF

 

Barr Gazetas Limited

(Registration number: 03948400)
Abridged Statement Of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

296,207

399,545

Current assets

 

Debtors

1,318,256

1,144,460

Cash at bank and in hand

 

365,617

712,920

 

1,683,873

1,857,380

Prepayments and accrued income

 

284,938

271,480

Creditors: Amounts falling due within one year

(595,437)

(527,523)

Net current assets

 

1,373,374

1,601,337

Total assets less current liabilities

 

1,669,581

2,000,882

Accruals and deferred income

 

(413,956)

(436,195)

Net assets

 

1,255,625

1,564,687

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,255,624

1,564,686

Shareholders' funds

 

1,255,625

1,564,687

 

Barr Gazetas Limited

(Registration number: 03948400)
Abridged Statement Of Financial Position as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement Of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 8 November 2024 and signed on its behalf by:
 

.........................................

Mr J Eaglesham

Director

 

Barr Gazetas Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 Heddon Street
London
W1B 4BP
England

These financial statements were authorised for issue by the Board on 8 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Barr Gazetas Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33%, straight line.

Fixtures and fittings

20%, straight line.

Leasehold improvements

Write-down over length of lease.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Research and development
Expenditure on research and development is written off against profits in the year in which it is incurred.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2023 - 52).

 

Barr Gazetas Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

275,000

At 31 March 2024

275,000

Amortisation

At 1 April 2023

275,000

At 31 March 2024

275,000

Carrying amount

At 31 March 2024

-

5

Tangible assets

Furniture, fittings and equipment
 £

Leasehold Improvements
£

Total
£

Cost or valuation

At 1 April 2023

648,030

24,938

672,968

Additions

2,015

-

2,015

Disposals

(64,914)

-

(64,914)

At 31 March 2024

585,131

24,938

610,069

Depreciation

At 1 April 2023

269,682

3,741

273,423

Charge for the year

100,301

4,987

105,288

Eliminated on disposal

(64,849)

-

(64,849)

At 31 March 2024

305,134

8,728

313,862

Carrying amount

At 31 March 2024

279,997

16,210

296,207

At 31 March 2023

378,348

21,197

399,545

6

Financial commitments, guarantees and contingencies

At the end of the period, the company had total commitments under operating leases of £661,119 (2023: £742,280).

At the end of the period, the company had total commitments under finance leases of £2,208 (2023: £26,496).