Registered number
12007198
Barber and Smith Tiling Limited
Filleted Accounts
31 May 2024
Barber and Smith Tiling Limited
Registered number: 12007198
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,862 19,855
Current assets
Debtors 4 45,802 54,384
Cash at bank and in hand 4,136 3,883
49,938 58,267
Creditors: amounts falling due within one year 5 (29,353) (34,603)
Net current assets 20,585 23,664
Total assets less current liabilities 39,447 43,519
Creditors: amounts falling due after more than one year 6 (34,167) (39,043)
Net assets 5,280 4,476
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 4,280 3,476
Shareholders' funds 5,280 4,476
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Barber
Director
Approved by the board on 22 February 2025
Barber and Smith Tiling Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 5% on reducing balance basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost or valuation
At 1 June 2023 22,000
At 31 May 2024 22,000
Depreciation
At 1 June 2023 2,145
Charge for the year 993
At 31 May 2024 3,138
Net book value
At 31 May 2024 18,862
At 31 May 2023 19,855
4 Debtors 2024 2023
£ £
Trade debtors - 4,395
Other debtors 45,802 49,989
45,802 54,384
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Taxation and social security costs 23,803 29,102
Other creditors 550 501
29,353 34,603
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,167 39,043
7 Related party transactions
The following ordinary dividends were paid in the year:
Mr G Barber (director) -£14,000 (2023-£30,000)
Mr W Smith (director) - £14,000 (2023- £30,000)
8 Controlling party
The company has no ultimate controlling party.
9 Other information
Barber and Smith Tiling Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Butts Paddock
Canewdon
Rochford
SS4 3QT
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