2023-11-012024-10-312024-10-31false12318590BARCEM 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BARCEM LTD

Registered Number
12318590
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

BARCEM LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Baris Senli

Registered Address

11 Richmond Road
Kingston Upon Thames
KT2 5BW

Registered Number

12318590 (England and Wales)
BARCEM LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3280,058301,980
280,058301,980
Current assets
Stocks4351,451289,402
Debtors5743,682492,865
Cash at bank and on hand11,6137,574
1,106,746789,841
Creditors amounts falling due within one year6(818,176)(733,726)
Net current assets (liabilities)288,57056,115
Total assets less current liabilities568,628358,095
Creditors amounts falling due after one year7(206,451)(63,620)
Net assets362,177294,475
Capital and reserves
Called up share capital100100
Profit and loss account362,077294,375
Shareholders' funds362,177294,475
The financial statements were approved and authorised for issue by the Director on 19 March 2025, and are signed on its behalf by:
Baris Senli
Director
Registered Company No. 12318590
BARCEM LTD
Notes to the Financial Statements
for the year ended 31 October 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Plant and machinery18-
Fixtures and fittings18-
Vehicles18-
Office Equipment18-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year913
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 November 23180,23254,28948,311149,218-432,050
Additions-9,270-4,5001,16614,936
At 31 October 24180,23263,55948,311153,7181,166446,986
Depreciation and impairment
At 01 November 2326,28424,00721,36358,416-130,070
Charge for year9,01227,846---36,858
At 31 October 2435,29651,85321,36358,416-166,928
Net book value
At 31 October 24144,93611,70626,94895,3021,166280,058
At 31 October 23153,94830,28226,94890,802-301,980
4.Stocks

2024

2023

££
Finished goods351,451289,402
Total351,451289,402
5.Debtors: amounts due after one year

2024

2023

££
Other debtors717,977468,298
Total717,977468,298
Other Debtor contains related party balance of £717,976.92
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables527,396431,924
Bank borrowings and overdrafts9,1079,761
Taxation and social security96,65077,972
Finance lease and HP contracts735,918
Other creditors175,860190,179
Accrued liabilities and deferred income9,09017,972
Total818,176733,726
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts159,14018,510
Other creditors47,31145,110
Total206,45163,620
Other Creditors contains related party balance of £47,310.84
8.Related party transactions
The companies mentioned below are under the control and significant influence of the Director, Baris Senli. During the year the company entered into the transactions with related parties and at the year end, the following balances were outstanding: Amount owed by connected companies: Barcem Express Ltd £104,920 Barcem Properties Ltd £176,821 Barcem Sutton Ltd £69,462 Richmond Hills Properties Ltd £366,773 Amount due to connected companies: SNL Bistro Ltd £47,311