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Registration number: 13199949

Heronslea Services Limited

trading as Barkess & Co

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Heronslea Services Limited

trading as Barkess & Co

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Heronslea Services Limited

trading as Barkess & Co

Company Information

Director

Chris Barkess FCA

Company secretary

Christine Barkess

Registered office

Stockton Business Centre, Unit123
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

Accountants

Barkess & Co
Stockton Business Centre
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

 

Heronslea Services Limited

trading as Barkess & Co

(Registration number: 13199949)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

91,229

52,250

Tangible assets

5

9,179

10,234

 

100,408

62,484

Current assets

 

Debtors

6

31,794

29,821

Cash at bank and in hand

 

1,069

468

 

32,863

30,289

Creditors: Amounts falling due within one year

7

(71,849)

(42,989)

Net current liabilities

 

(38,986)

(12,700)

Total assets less current liabilities

 

61,422

49,784

Provisions for liabilities

(2,295)

(1,944)

Net assets

 

59,127

47,840

Capital and reserves

 

Called up share capital

8

120

120

Retained earnings

59,007

47,720

Shareholders' funds

 

59,127

47,840

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Heronslea Services Limited

trading as Barkess & Co

(Registration number: 13199949)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 19 January 2025
 

.........................................
Chris Barkess FCA
Director

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Stockton Business Centre, Unit123
70-74 Brunswick Street
Stockton on Tees
TS18 1DW
England

These financial statements were authorised for issue by the director on 19 January 2025.

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current and deferred 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.

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

15% reducing balance

Furniture, fittings & equipment

25% reducing balance

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line (10 years)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

66,000

66,000

Additions acquired separately

50,643

50,643

At 30 April 2024

116,643

116,643

Amortisation

At 1 May 2023

13,750

13,750

Amortisation charge

11,664

11,664

At 30 April 2024

25,414

25,414

Carrying amount

At 30 April 2024

91,229

91,229

At 30 April 2023

52,250

52,250

The abovementioned amortisation charge is included in the 'Administrative expenses' line item of the Profit and Loss Account, (page 4).

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

15,526

15,526

Additions

1,225

1,225

At 30 April 2024

16,751

16,751

Depreciation

At 1 May 2023

5,292

5,292

Charge for the year

2,280

2,280

At 30 April 2024

7,572

7,572

Carrying amount

At 30 April 2024

9,179

9,179

At 30 April 2023

10,234

10,234

6

Debtors

Current

2024
£

2023
£

Trade debtors

21,519

21,189

Prepayments

1,535

1,536

Other debtors

8,740

7,096

 

31,794

29,821

7

Creditors

Creditors: amounts falling due within one year

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,390

952

Trade creditors

 

3,209

7,305

Taxation and social security

 

27,885

23,348

Accruals and deferred income

 

1,884

1,884

Other creditors

 

37,481

9,500

 

71,849

42,989

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

2024
£

2023
£

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

36

36

36

36

Ordinary B shares of £1 each

84

84

84

84

120

120

120

120

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

476

952

Bank overdrafts

914

-

1,390

952

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary A share

-

-

Interim dividend of £Nil per each Ordinary B shares

-

-

-

-

 

Heronslea Services Limited

trading as Barkess & Co

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Related party transactions

Transactions with the director

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Chris Barkess FCA

Director's current account

7,616

(7,616)

-

Dividends paid to the director

2024
£

2023
£

Chris Barkess FCA

Interim dividends

-

-