Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Lauren Barber 03/01/2019 Paul Barber 31/03/2009 27 March 2025 The principal activity of the Company during the financial year was that of insurance claim building contractors. 06863821 2024-06-30 06863821 bus:Director1 2024-06-30 06863821 bus:Director2 2024-06-30 06863821 2023-06-30 06863821 core:CurrentFinancialInstruments 2024-06-30 06863821 core:CurrentFinancialInstruments 2023-06-30 06863821 core:Non-currentFinancialInstruments 2024-06-30 06863821 core:Non-currentFinancialInstruments 2023-06-30 06863821 core:ShareCapital 2024-06-30 06863821 core:ShareCapital 2023-06-30 06863821 core:RetainedEarningsAccumulatedLosses 2024-06-30 06863821 core:RetainedEarningsAccumulatedLosses 2023-06-30 06863821 core:LeaseholdImprovements 2023-06-30 06863821 core:PlantMachinery 2023-06-30 06863821 core:Vehicles 2023-06-30 06863821 core:FurnitureFittings 2023-06-30 06863821 core:OfficeEquipment 2023-06-30 06863821 core:LeaseholdImprovements 2024-06-30 06863821 core:PlantMachinery 2024-06-30 06863821 core:Vehicles 2024-06-30 06863821 core:FurnitureFittings 2024-06-30 06863821 core:OfficeEquipment 2024-06-30 06863821 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-06-30 06863821 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-06-30 06863821 bus:OrdinaryShareClass1 2024-06-30 06863821 bus:OrdinaryShareClass2 2024-06-30 06863821 core:WithinOneYear 2024-06-30 06863821 core:WithinOneYear 2023-06-30 06863821 core:BetweenOneFiveYears 2024-06-30 06863821 core:BetweenOneFiveYears 2023-06-30 06863821 2023-07-01 2024-06-30 06863821 bus:FilletedAccounts 2023-07-01 2024-06-30 06863821 bus:SmallEntities 2023-07-01 2024-06-30 06863821 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06863821 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06863821 bus:Director1 2023-07-01 2024-06-30 06863821 bus:Director2 2023-07-01 2024-06-30 06863821 core:LeaseholdImprovements core:TopRangeValue 2023-07-01 2024-06-30 06863821 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 06863821 core:Vehicles core:TopRangeValue 2023-07-01 2024-06-30 06863821 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 06863821 core:OfficeEquipment core:TopRangeValue 2023-07-01 2024-06-30 06863821 2022-07-01 2023-06-30 06863821 core:LeaseholdImprovements 2023-07-01 2024-06-30 06863821 core:PlantMachinery 2023-07-01 2024-06-30 06863821 core:Vehicles 2023-07-01 2024-06-30 06863821 core:FurnitureFittings 2023-07-01 2024-06-30 06863821 core:OfficeEquipment 2023-07-01 2024-06-30 06863821 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 06863821 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06863821 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06863821 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 06863821 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06863821 (England and Wales)

T W BARBER LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

T W BARBER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

T W BARBER LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
T W BARBER LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 86,636 123,844
Investment property 4 10,000 350,000
96,636 473,844
Current assets
Debtors 5 2,940,911 3,079,761
Cash at bank and in hand 272,393 91,445
3,213,304 3,171,206
Creditors: amounts falling due within one year 6 ( 2,515,339) ( 2,659,482)
Net current assets 697,965 511,724
Total assets less current liabilities 794,601 985,568
Creditors: amounts falling due after more than one year 7 ( 100,470) ( 325,618)
Provision for liabilities 8 ( 16,359) ( 24,222)
Net assets 677,772 635,728
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 676,772 634,728
Total shareholders' funds 677,772 635,728

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of T W Barber Limited (registered number: 06863821) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Lauren Barber
Director
T W BARBER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
T W BARBER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T W Barber Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Sebert Road, London, E7 0NQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 5 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 25

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 July 2023 95,728 13,019 65,448 9,017 93,881 277,093
Additions 0 0 0 1,139 4,127 5,266
At 30 June 2024 95,728 13,019 65,448 10,156 98,008 282,359
Accumulated depreciation
At 01 July 2023 73,616 9,786 27,962 3,372 38,513 153,249
Charge for the financial year 9,706 2,598 11,575 1,991 16,604 42,474
At 30 June 2024 83,322 12,384 39,537 5,363 55,117 195,723
Net book value
At 30 June 2024 12,406 635 25,911 4,793 42,891 86,636
At 30 June 2023 22,112 3,233 37,486 5,645 55,368 123,844

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 350,000
Additions 539,768
Disposals (879,768)
As at 30 June 2024 10,000

5. Debtors

2024 2023
£ £
Trade debtors 260,984 454,802
Amounts owed by related parties 971,056 314,510
Other debtors 1,708,871 2,310,449
2,940,911 3,079,761

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 174,485 315,077
Trade creditors 1,233,173 1,307,368
Amounts owed to related parties 352 352
Taxation and social security 799,364 705,267
Obligations under finance leases and hire purchase contracts 4,928 4,928
Other creditors 303,037 326,490
2,515,339 2,659,482

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 12,681 17,608
Other creditors 87,789 308,010
100,470 325,618

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 16,359 24,222

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50,000 A ordinary shares of £ 0.01 each 500 500
50,000 B ordinary shares of £ 0.01 each 500 500
1,000 1,000

10. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 47,240 67,079

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 21,758 36,808
between one and five years 25,482 30,271
47,240 67,079

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Due from/(to) key management personnel (805) (300)

Other related party transactions

2024 2023
£ £
Due from/(to) entities under common control 970,704 314,158