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Registration number: 12665489

Barcud Coch Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Barcud Coch Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Barcud Coch Ltd

Company Information

Director

Mr Marcus Francis

Registered office

Tŷ Harford,
Sgwâr Harford
Lampeter
SA48 7HD

 

Barcud Coch Ltd

(Registration number: 12665489)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

15,727

15,233

Current assets

 

Stocks

6

1,500

21,011

Debtors

7

21,179

19,569

Cash at bank and in hand

 

12,614

19,411

 

35,293

59,991

Creditors: Amounts falling due within one year

8

(24,721)

(72,229)

Net current assets/(liabilities)

 

10,572

(12,238)

Total assets less current liabilities

 

26,299

2,995

Provisions for liabilities

(2,988)

(2,894)

Net assets

 

23,311

101

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

23,211

1

Total equity

 

23,311

101

For the financial year ending 30 June 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 and the option not to file the Profit and Loss Account has been taken.

 

Barcud Coch Ltd

(Registration number: 12665489)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 19 March 2025
 

.........................................
Mr Marcus Francis
Director

   
     
 

Barcud Coch Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Tŷ Harford,
Sgwâr Harford
Lampeter
SA48 7HD

These financial statements were authorised for issue by the director on 19 March 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).

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

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.

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.

 

Barcud Coch Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

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

Motor vehicles

20% reducing balance

Plant and machinery

20% 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Barcud Coch Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,431

3,295

 

Barcud Coch Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

2,929

21,865

24,794

Additions

2,405

12,000

14,405

Disposals

-

(21,865)

(21,865)

At 30 June 2024

5,334

12,000

17,334

Depreciation

At 1 July 2023

175

9,386

9,561

Charge for the year

832

600

1,432

Eliminated on disposal

-

(9,386)

(9,386)

At 30 June 2024

1,007

600

1,607

Carrying amount

At 30 June 2024

4,327

11,400

15,727

At 30 June 2023

2,754

12,479

15,233

6

Stocks

2024
£

2023
£

Other inventories

1,500

21,011

7

Debtors

2024
£

2023
£

Trade debtors

688

-

Prepayments

90

-

Other debtors

20,401

19,569

21,179

19,569

 

Barcud Coch Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

8,392

19,989

Taxation and social security

 

2,710

-

Other related parties

 

5,862

41,961

Corporation tax liability

 

5,507

8,134

Other creditors

 

2,250

2,145

 

24,721

72,229

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

10

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr Gary Evans

Directors loan account

(24,112)

31,450

(7,338)

-

         
       

Mr Marcus Francis

Directors loan account

(17,849)

26,980

(14,994)

(5,862)

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr Gary Evans

Directors loan account

(21,116)

39,702

(42,698)

(24,112)

         
       

Mr Marcus Francis

Directors loan account

(15,341)

40,091

(42,599)

(17,849)