Registered number
SC303172
Martin Barr & Son Ltd
Filleted Accounts
31 May 2024
Martin Barr & Son Ltd
Registered number: SC303172
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,394 24,070
Current assets
Stocks 3,500 3,500
Debtors 4 21,628 27,133
Cash at bank and in hand 150,797 114,593
175,925 145,226
Creditors: amounts falling due within one year 5 (16,124) (30,185)
Net current assets 159,801 115,041
Total assets less current liabilities 177,195 139,111
Creditors: amounts falling due after more than one year 6 (56,112) (27,767)
Net assets 121,083 111,344
Capital and reserves
Called up share capital 100 100
Profit and loss account 120,983 111,244
Shareholders' funds 121,083 111,344
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.
Martin Barr
Director
Approved by the board on 24 October 2024
Martin Barr & Son Ltd
Notes to the Accounts
for the year ended 31 May 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 18 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 83,328 33,476 116,804
Disposals (2,083) - (2,083)
At 31 May 2024 81,245 33,476 114,721
Depreciation
At 1 June 2023 71,783 20,951 92,734
Charge for the year 2,666 3,131 5,797
On disposals (1,204) - (1,204)
At 31 May 2024 73,245 24,082 97,327
Net book value
At 31 May 2024 8,000 9,394 17,394
At 31 May 2023 11,545 12,525 24,070
4 Debtors 2024 2023
£ £
Trade debtors 21,628 27,133
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 989 16,160
Taxation and social security costs 15,135 14,025
16,124 30,185
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 56,112 27,767
7 Other information
Martin Barr & Son Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
50 Caledonain Road
Wishaw
Lanarkshire
ML2 8AR
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