2023-08-012024-07-312024-07-31false12738986BARRETT CONTROL SYSTEMS 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BARRETT CONTROL SYSTEMS LTD

Registered Number
12738986
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

BARRETT CONTROL SYSTEMS LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

J D Barrett

Registered Address

33 Princes Gate
High Wycombe
HP13 7AD

Registered Number

12738986 (England and Wales)
BARRETT CONTROL SYSTEMS LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,4063,906
3,4063,906
Current assets
Debtors4111,136116,417
Cash at bank and on hand22,01623,595
133,152140,012
Creditors amounts falling due within one year5(67,978)(75,032)
Net current assets (liabilities)65,17464,980
Total assets less current liabilities68,58068,886
Net assets68,58068,886
Capital and reserves
Called up share capital11
Profit and loss account68,57968,885
Shareholders' funds68,58068,886
The financial statements were approved and authorised for issue by the Director on 16 April 2025, and are signed on its behalf by:
J D Barrett
Director
Registered Company No. 12738986
BARRETT CONTROL SYSTEMS LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Revenue from sale of goods
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 August 231,8765,5007,376
Additions635-635
At 31 July 242,5115,5008,011
Depreciation and impairment
At 01 August 231,0642,4063,470
Charge for year3627731,135
At 31 July 241,4263,1794,605
Net book value
At 31 July 241,0852,3213,406
At 31 July 238123,0943,906
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables105,218106,831
Other debtors5,9189,586
Total111,136116,417
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables46,59150,907
Bank borrowings and overdrafts8,526-
Taxation and social security12,39423,500
Other creditors467625
Total67,97875,032
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.