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REGISTERED NUMBER: 01071493 (England and Wales)













Financial Statements

for the Year Ended 31 March 2024

for

S.B.Barker (Electrical and T.V) Limited

S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


S.B.Barker (Electrical and T.V) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr C Kirk
Mr A R Money
Ms A Kirk



SECRETARY: Ms A Kirk



REGISTERED OFFICE: Old Boston Road
Coningsby
LINCOLN
Lincolnshire
LN4 4SX



REGISTERED NUMBER: 01071493 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Barclays Bank plc
35 High Street
HORNCASTLE
Lincolnshire
LN9 5HS

S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

Abridged Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,089 20,890

CURRENT ASSETS
Stocks 77,422 78,736
Debtors 83,250 73,596
Cash in hand 1,393 502
162,065 152,834
CREDITORS
Amounts falling due within one year 120,425 121,878
NET CURRENT ASSETS 41,640 30,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,729

51,846

CREDITORS
Amounts falling due after more than
one year

(11,562

)

(24,031

)

PROVISIONS FOR LIABILITIES (2,908 ) (3,965 )
NET ASSETS 44,259 23,850

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 44,159 23,750
SHAREHOLDERS' FUNDS 44,259 23,850

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.

S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 December 2024 and were signed on its behalf by:





Ms A Kirk - Director


S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

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

1. STATUTORY INFORMATION

S.B.Barker (Electrical and T.V) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 15% - 33% reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.


S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Assets held for use in operating leases are included in fixed assets at cost and depreciated over their useful lives. Rental income from operating leases and finance leases are recognised on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 66,747
Additions 2,647
At 31 March 2024 69,394
DEPRECIATION
At 1 April 2023 45,857
Charge for year 6,448
At 31 March 2024 52,305
NET BOOK VALUE
At 31 March 2024 17,089
At 31 March 2023 20,890

Included in plant and machinery are assets at a cost of £24,637 (2023 £21,990) which are held for use under operating leases. In respect of assets held for use under operating leases the depreciation charge for the year is £2,413 (2023 £2,297) and the net book value is £4,898 (2023 £4,664).

5. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Amounts due within one year 7,484 18,024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
Mr A R Money
Balance outstanding at start of year 10,327 10,519
Amounts advanced 5,914 5,858
Amounts repaid (8,538 ) (6,050 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,703 10,327

This directors loan account is not secured and interest free.

S.B.Barker (Electrical and T.V) Limited (Registered number: 01071493)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RELATED PARTY DISCLOSURES

Included in creditors are directors loan account for Mr C Kirk amounting to £6,088 (2023 £9,319). This directors loan account is not secured and interest free.

During the year, rent of £4,200 has been paid to Mr C Kirk - director, (2023 £3,600), under an informal lease; in respect of premises occupied by the company.