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REGISTERED NUMBER: 04792779 (England and Wales)















THE BAROMETER SHOP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE BAROMETER SHOP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C F Jones
Mrs V J Jones





SECRETARY: Mrs V J Jones





REGISTERED OFFICE: 25 Broad Street
Leominster
Herefordshire
HR6 8BT





REGISTERED NUMBER: 04792779 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,861 2,596
1,861 2,596

CURRENT ASSETS
Stock and work in progress 10,500 10,500
Debtors 6 1,372 2,550
Cash at bank and in hand 23,269 16,200
35,141 29,250
CREDITORS
Amounts falling due within one year 7 115,488 127,041
NET CURRENT LIABILITIES (80,347 ) (97,791 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(78,486

)

(95,195

)

CREDITORS
Amounts falling due after more than one
year

8

(4,095

)

(8,306

)

PROVISIONS FOR LIABILITIES (354 ) (493 )
NET LIABILITIES (82,935 ) (103,994 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (83,035 ) (104,094 )
SHAREHOLDERS' FUNDS (82,935 ) (103,994 )

THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 19 March 2025 and were signed on its behalf by:





C F Jones - Director


THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

The Barometer Shop 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been amortised evenly over its estimated useful life of ten years.

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

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stock and work in progress 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 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.

THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 155,728
AMORTISATION
At 1 August 2023
and 31 July 2024 155,728
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 22,048 9,995 559 32,602
DEPRECIATION
At 1 August 2023 20,972 8,662 372 30,006
Charge for year 215 333 187 735
At 31 July 2024 21,187 8,995 559 30,741
NET BOOK VALUE
At 31 July 2024 861 1,000 - 1,861
At 31 July 2023 1,076 1,333 187 2,596

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,181
Prepayments and accrued income 1,372 1,369
1,372 2,550

THE BAROMETER SHOP LTD (REGISTERED NUMBER: 04792779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,207 3,992
Trade creditors 3,154 5,597
Tax 5,080 4,117
Social security and other taxes 402 368
Directors' current accounts 100,432 110,426
Accruals and deferred income 2,213 2,541
115,488 127,041

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounceback loan 1-2 years 4,095 4,095
Bounceback loan 2-5 years - 4,211
4,095 8,306

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 August 2023 (104,094 )
Profit for the year 21,059
At 31 July 2024 (83,035 )