J.N. Barber Limited 05872522 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is retail of tobacconist products. Digita Accounts Production Advanced 6.30.9574.0 true true 05872522 2023-09-01 2024-08-31 05872522 2024-08-31 05872522 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-08-31 05872522 core:CurrentFinancialInstruments 2024-08-31 05872522 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05872522 core:Goodwill 2024-08-31 05872522 core:OtherPropertyPlantEquipment 2024-08-31 05872522 bus:SmallEntities 2023-09-01 2024-08-31 05872522 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05872522 bus:FilletedAccounts 2023-09-01 2024-08-31 05872522 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05872522 bus:RegisteredOffice 2023-09-01 2024-08-31 05872522 bus:Director1 2023-09-01 2024-08-31 05872522 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-09-01 2024-08-31 05872522 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05872522 core:Goodwill 2023-09-01 2024-08-31 05872522 core:FurnitureFittings 2023-09-01 2024-08-31 05872522 core:OfficeEquipment 2023-09-01 2024-08-31 05872522 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 05872522 countries:EnglandWales 2023-09-01 2024-08-31 05872522 2023-08-31 05872522 core:Goodwill 2023-08-31 05872522 core:OtherPropertyPlantEquipment 2023-08-31 05872522 2022-09-01 2023-08-31 05872522 2023-08-31 05872522 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-31 05872522 core:CurrentFinancialInstruments 2023-08-31 05872522 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05872522 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05872522

J.N. Barber Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

J.N. Barber Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

J.N. Barber Limited

(Registration number: 05872522)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,982

224

Current assets

 

Stocks

6

518,989

354,682

Debtors

7

367,786

319,094

Cash at bank and in hand

 

64,708

220,090

 

951,483

893,866

Creditors: Amounts falling due within one year

8

(146,640)

(186,927)

Net current assets

 

804,843

706,939

Total assets less current liabilities

 

813,825

707,163

Provisions for liabilities

(2,246)

(42)

Net assets

 

811,579

707,121

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

811,479

707,021

Shareholders' funds

 

811,579

707,121

For the financial year ending 31 August 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 March 2025
 

.........................................
Mr James Barber
Director

 

J.N. Barber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
63-65 Cold Bath Road
Harrogate
North Yorkshire
HG2 0NX
United Kingdom

These financial statements were authorised for issue by the director on 27 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

The financial statements have been prepared on a going concern basis.

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.

 

J.N. Barber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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

Furniture and fittings

Straight line over 4 years

Office equipment

Straight line over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 5 years

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.

Trade 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.

 

J.N. Barber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

Trade 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 4).

 

J.N. Barber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

90,000

90,000

At 31 August 2024

90,000

90,000

Amortisation

At 1 September 2023

90,000

90,000

At 31 August 2024

90,000

90,000

Carrying amount

At 31 August 2024

-

-

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

31,707

31,707

Additions

12,145

12,145

At 31 August 2024

43,852

43,852

Depreciation

At 1 September 2023

31,483

31,483

Charge for the year

3,387

3,387

At 31 August 2024

34,870

34,870

Carrying amount

At 31 August 2024

8,982

8,982

At 31 August 2023

224

224

6

Stocks

2024
£

2023
£

Other inventories

518,989

354,682

 

J.N. Barber Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors

2024
£

2023
£

Trade debtors

2,687

362

Prepayments

3,107

2,862

Other debtors

361,992

315,870

367,786

319,094

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

68,558

123,675

Taxation and social security

74,701

60,307

Accruals and deferred income

2,608

2,458

Other creditors

773

487

146,640

186,927

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Off-balance sheet arrangements

Lessee
At the reporting date the company had outstanding commitments for future minimum lease payments under
non-cancellable operating leases of £15,250 (2023; £30,500), of which £15,250 (2023; £15,250) was re-payable within 1 year.