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REGISTERED NUMBER: 02036636 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Barnard Microsystems Limited

Barnard Microsystems Limited (Registered number: 02036636)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Barnard Microsystems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Dr J A Barnard
D T Barnard





SECRETARY: Mrs A J G Barnard





REGISTERED OFFICE: Stafford House
Blackbrook Park Avenue
TAUNTON
Somerset
TA1 2PX





REGISTERED NUMBER: 02036636 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Barnard Microsystems Limited (Registered number: 02036636)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,605 1
Tangible assets 5 27,061 17,514
54,666 17,515

CURRENT ASSETS
Stocks 618,450 630,304
Debtors 6 183,530 132,116
Cash at bank and in hand 164,143 176,692
966,123 939,112
CREDITORS
Amounts falling due within one year 7 169,624 180,476
NET CURRENT ASSETS 796,499 758,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,165

776,151

PROVISIONS FOR LIABILITIES 1,952 4,378
NET ASSETS 849,213 771,773

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 849,113 771,673
SHAREHOLDERS' FUNDS 849,213 771,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





Dr J A Barnard - Director


Barnard Microsystems Limited (Registered number: 02036636)

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

1. STATUTORY INFORMATION

Barnard Microsystems 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.

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

Computer software has been amortised evenly over its estimated useful life of 6 years.

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 - 10-33% straight line method
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Barnard Microsystems Limited (Registered number: 02036636)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023 32,200
Additions 33,125
At 31 January 2024 65,325
AMORTISATION
At 1 February 2023 32,199
Amortisation for year 5,521
At 31 January 2024 37,720
NET BOOK VALUE
At 31 January 2024 27,605
At 31 January 2023 1

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 62,466 82,745 33,385
Additions 14,560 2,311 402
At 31 January 2024 77,026 85,056 33,787
DEPRECIATION
At 1 February 2023 60,860 75,745 30,570
Charge for year 2,901 7,145 740
At 31 January 2024 63,761 82,890 31,310
NET BOOK VALUE
At 31 January 2024 13,265 2,166 2,477
At 31 January 2023 1,606 7,000 2,815

Barnard Microsystems Limited (Registered number: 02036636)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 3,500 25,309 207,405
Additions - 5,022 22,295
At 31 January 2024 3,500 30,331 229,700
DEPRECIATION
At 1 February 2023 2,054 20,662 189,891
Charge for year 362 1,600 12,748
At 31 January 2024 2,416 22,262 202,639
NET BOOK VALUE
At 31 January 2024 1,084 8,069 27,061
At 31 January 2023 1,446 4,647 17,514

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,427 54,153
Directors' current accounts 3,461 -
Tax 106,910 75,992
Prepayments 1,732 1,971
183,530 132,116

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 135,953 130,507
Social security and other taxes 6,776 5,936
VAT 18,995 32,466
Directors' current accounts - 2,054
Accrued expenses 7,900 9,513
169,624 180,476

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,500 21,500
Between one and five years 43,000 64,500
64,500 86,000

9. RESERVES
Retained
earnings
£   

At 1 February 2023 771,673
Profit for the year 77,440
At 31 January 2024 849,113

Barnard Microsystems Limited (Registered number: 02036636)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the following transactions occurred with Standard Life Trustee Company Limited, the pension scheme, of which Dr J A Barnard, a director, is the beneficiary.

2023 2022
£ £
Rent payable (net of VAT) to the pension scheme21,50022,900

All of these transactions were under normal commercial terms.