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REGISTERED NUMBER: 07249328 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Barnsley Precious Metals Ltd

Barnsley Precious Metals Ltd (Registered number: 07249328)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Barnsley Precious Metals Ltd

Company Information
for the year ended 31 May 2024







DIRECTOR: Mr M Newton





REGISTERED OFFICE: 117 Church Street
Whitby
North Yorkshire
YO22 4DE





REGISTERED NUMBER: 07249328 (England and Wales)





ACCOUNTANTS: Royston Parkin Limited
2 President Buildings
Savile Street East
Sheffield
South Yorkshire
S4 7UQ

Barnsley Precious Metals Ltd (Registered number: 07249328)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 33,044 34,203

CURRENT ASSETS
Inventories 103,229 -
Cash at bank 107,350 28,720
210,579 28,720
CREDITORS
Amounts falling due within one year 5 208,237 41,263
NET CURRENT ASSETS/(LIABILITIES) 2,342 (12,543 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,386

21,660

PROVISIONS FOR LIABILITIES 8,261 6,499
NET ASSETS 27,125 15,161

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 27,105 15,141
27,125 15,161

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Barnsley Precious Metals Ltd (Registered number: 07249328)

Statement of Financial Position - continued
31 May 2024


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 director and authorised for issue on 16 December 2024 and were signed by:





Mr M Newton - Director


Barnsley Precious Metals Ltd (Registered number: 07249328)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Barnsley Precious Metals Ltd 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Barnsley Precious Metals Ltd (Registered number: 07249328)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023 98,422
Additions 6,750
At 31 May 2024 105,172
DEPRECIATION
At 1 June 2023 64,219
Charge for year 7,909
At 31 May 2024 72,128
NET BOOK VALUE
At 31 May 2024 33,044
At 31 May 2023 34,203

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,942 408
Taxation and social security 27,707 21,239
Other creditors 170,588 19,616
208,237 41,263