J Barnett Produce Limited 11943596 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Farming Digita Accounts Production Advanced 6.30.9574.0 true true 11943596 2023-04-01 2024-03-31 11943596 2024-03-31 11943596 core:CurrentFinancialInstruments 2024-03-31 11943596 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11943596 core:OtherPropertyPlantEquipment 2024-03-31 11943596 bus:SmallEntities 2023-04-01 2024-03-31 11943596 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11943596 bus:FilletedAccounts 2023-04-01 2024-03-31 11943596 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11943596 bus:RegisteredOffice 2023-04-01 2024-03-31 11943596 bus:CompanySecretary1 2023-04-01 2024-03-31 11943596 bus:Director1 2023-04-01 2024-03-31 11943596 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11943596 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11943596 core:PlantMachinery 2023-04-01 2024-03-31 11943596 countries:England 2023-04-01 2024-03-31 11943596 2023-03-31 11943596 core:OtherPropertyPlantEquipment 2023-03-31 11943596 2022-04-01 2023-03-31 11943596 2023-03-31 11943596 core:CurrentFinancialInstruments 2023-03-31 11943596 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11943596 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11943596

J Barnett Produce Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

J Barnett Produce Limited
(Registration number: 11943596)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

J Barnett Produce Limited
(Registration number: 11943596)

Company Information

Director

Mr J A Barnett

Company secretary

Ms K L Caine

Registered office

Pantile Farm, The Cotes
Soham
Ely
CB7 5EP

Registered number

11943596

 

J Barnett Produce Limited
(Registration number: 11943596)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

14,912

5,765

Current assets

 

Stocks

89,547

88,052

Debtors

5

16,326

11,195

Cash at bank and in hand

 

282,702

167,524

 

388,575

266,771

Creditors: Amounts falling due within one year

6

(125,086)

(97,932)

Net current assets

 

263,489

168,839

Total assets less current liabilities

 

278,401

174,604

Provisions for liabilities

(3,728)

(1,096)

Net assets

 

274,673

173,508

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

274,573

173,408

Shareholders' funds

 

274,673

173,508

 

J Barnett Produce Limited
(Registration number: 11943596)

Balance Sheet as at 31 March 2024

For the financial year 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 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.

Approved and authorised by the director on 27 January 2025
 

.........................................
Mr J A Barnett
Director

 

J Barnett Produce Limited
(Registration number: 11943596)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Pantile Farm, The Cotes
Soham
Ely
CB7 5EP
England

These financial statements were authorised for issue by the director on 27 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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

 

J Barnett Produce Limited
(Registration number: 11943596)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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

Plant and machinery

25% reducing balance

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.

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.

 

J Barnett Produce Limited
(Registration number: 11943596)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

J Barnett Produce Limited
(Registration number: 11943596)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible Assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

12,000

12,000

Additions

13,900

13,900

At 31 March 2024

25,900

25,900

Depreciation

At 1 April 2023

6,234

6,234

Charge for the year

4,754

4,754

At 31 March 2024

10,988

10,988

Carrying amount

At 31 March 2024

14,912

14,912

At 31 March 2023

5,765

5,765

5

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Prepayments

3,796

-

Other debtors

12,530

11,195

 

16,326

11,195

 

J Barnett Produce Limited
(Registration number: 11943596)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

37,549

72,700

Taxation and social security

29,384

6,097

Accruals and deferred income

20,459

19,135

Other creditors

37,694

-

125,086

97,932