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COMPANY REGISTRATION NUMBER: 02670059
Varney Barfield & Co Limited
Filleted Unaudited Financial Statements
31 March 2024
Varney Barfield & Co Limited
Financial Statements
Period from 1 January 2023 to 31 March 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
2
Varney Barfield & Co Limited
Balance Sheet
31 March 2024
31 Mar 24
31 Dec 22
Note
£
£
£
£
Current assets
Debtors
5
139,267
91,334
Cash at bank and in hand
32
32
---------
--------
139,299
91,366
Creditors: amounts falling due within one year
6
( 65,421)
( 17,478)
---------
--------
Net current assets
73,878
73,888
--------
--------
Total assets less current liabilities
73,878
73,888
--------
--------
Capital and reserves
Called up share capital
150
150
Profit and loss account
73,728
73,738
--------
--------
Shareholders funds
73,878
73,888
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 March 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr K C Varney MacLeod
Director
Company registration number: 02670059
Varney Barfield & Co Limited
Notes to the Financial Statements
Period from 1 January 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Debtors
31 Mar 24
31 Dec 22
£
£
Trade debtors
52,834
72,423
Other debtors
86,433
18,911
---------
--------
139,267
91,334
---------
--------
6. Creditors: amounts falling due within one year
31 Mar 24
31 Dec 22
£
£
Corporation tax
233
17,478
Other creditors
65,188
--------
--------
65,421
17,478
--------
--------
7. Related party transactions
During the period the company was recharged £890,000 (2022; £510,000) for services provided by a partnership known as Varney Barfield and Company, of which the director is a partner.