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REGISTERED NUMBER: 06137832 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024

FOR

HONEY BARRETT LIMITED

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HONEY BARRETT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr P A J Knight FCA
Miss E H Densley FCA
Mrs A J Newbury FCA
Mr A Bansel FCA
Mrs L J Underdown ACA
Mr D E Carr FCCA
Mrs A J James ACA





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: 06137832 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 1,584
Tangible assets 6 38,071 27,741
Investments 7 49 49
38,120 29,374

CURRENT ASSETS
Debtors 8 679,671 765,289
Cash at bank and in hand 5,378 115,832
685,049 881,121
CREDITORS
Amounts falling due within one year 9 366,196 462,980
NET CURRENT ASSETS 318,853 418,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,973

447,515

PROVISIONS FOR LIABILITIES 12 4,703 983
NET ASSETS 352,270 446,532

CAPITAL AND RESERVES
Called up share capital 13 6,700 6,700
Capital redemption reserve 300 300
Retained earnings 345,270 439,532
SHAREHOLDERS' FUNDS 352,270 446,532

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit & loss account 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:




Mr A Bansel FCA - Director



Mrs L J Underdown ACA - Director


HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Honey Barrett 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents both amounts invoiced and amounts to be invoiced by reference to charge out rates and the time recording system, having regard to irrecoverable time. These amounts are exclusive of Value Added Tax.

Goodwill
Amortisation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of an asset as follows:

Goodwill - over periods of 1 to 10 years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - In accordance with lease term
Furniture and other equipment - 20% on reducing balance
Computer equipment - straight line over 3 years

All fixed assets are initially recorded at cost.

Investments in associates
Investments in associate undertakings are recognised at cost.

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss account, 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.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 49 ) .

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 1,042,766
AMORTISATION
At 1 May 2023 1,041,182
Amortisation for year 1,584
At 30 April 2024 1,042,766
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 1,584

6. TANGIBLE FIXED ASSETS
Furniture
Short and other Computer
leasehold equipment equipment Totals
£    £    £    £   
COST
At 1 May 2023 7,522 91,884 167,399 266,805
Additions - 3,106 22,900 26,006
Disposals - - (1,337 ) (1,337 )
At 30 April 2024 7,522 94,990 188,962 291,474
DEPRECIATION
At 1 May 2023 5,505 73,699 159,860 239,064
Charge for year 587 4,050 10,824 15,461
Eliminated on disposal - - (1,122 ) (1,122 )
At 30 April 2024 6,092 77,749 169,562 253,403
NET BOOK VALUE
At 30 April 2024 1,430 17,241 19,400 38,071
At 30 April 2023 2,017 18,185 7,539 27,741

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 May 2023
and 30 April 2024 49
NET BOOK VALUE
At 30 April 2024 49
At 30 April 2023 49

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 122,347 200,743
Amount recoverable on
contracts 481,156 458,568
Other debtors 872 7,307
Prepayments and accrued income 75,296 98,671
679,671 765,289

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 4,276
Trade creditors 82,019 111,882
Corporation tax 70,474 84,061
PAYE and social security 26,303 25,057
VAT 77,779 101,458
Other creditors 5,004 4,513
Directors' current accounts 9,773 9,193
Accruals and deferred income 94,844 122,540
366,196 462,980

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 104,750 104,750
Between one and five years 419,002 419,002
In more than five years 232,335 337,085
756,087 860,837

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 4,276

The bank loan was secured by a debenture comprising fixed and floating charge over all assets and undertakings of the company including all present and future freehold and leasehold property, book and other debts, chattels, goodwill, uncalled capital both present and future.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 8,825 6,022
Other timing differences (4,122 ) (5,039 )
4,703 983

Deferred
tax
£   
Balance at 1 May 2023 983
Profit & loss account movement 3,720
Balance at 30 April 2024 4,703

HONEY BARRETT LIMITED (REGISTERED NUMBER: 06137832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,000 Ordinary A 10p 1,700 1,700
10,000 Ordinary B 10p 1,000 1,000
10,000 Ordinary C 10p 1,000 1,000
10,000 Ordinary D 10p 1,000 1,000
10,000 Ordinary E 10p 1,000 1,000
10,000 Ordinary F 10p 1,000 1,000
6,700 6,700