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Registration number: 03927344

Barnvale Engineering & Supply Company Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Barnvale Engineering & Supply Company Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Barnvale Engineering & Supply Company Ltd

Company Information

Director

Mr N Simmonds

Company secretary

Mrs C A Simmonds

Registered office

14 Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA

Solicitors

Forbes Hall
New City House
71 Rivington Street
London
EC2A 3AY

Accountants

Blitz Gooday Ltd
Chartered Certified Accountants
62 Queens Road
Buckhurst Hill
Essex
IG9 5BY

 

Barnvale Engineering & Supply Company Ltd

(Registration number: 03927344)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

136,954

142,527

Current assets

 

Stocks

5

398,141

372,916

Debtors

6

928,981

963,864

Cash at bank and in hand

 

34,768

964

 

1,361,890

1,337,744

Creditors: Amounts falling due within one year

7

(715,782)

(797,150)

Net current assets

 

646,108

540,594

Total assets less current liabilities

 

783,062

683,121

Creditors: Amounts falling due after more than one year

7

(1,590)

(11,539)

Net assets

 

781,472

671,582

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

781,372

671,482

Shareholders' funds

 

781,472

671,582

For the financial year ending 31 March 2025 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 3 June 2025
 

.........................................
Mr N Simmonds
Director

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
14 Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA
UK

These financial statements were authorised for issue by the director on 3 June 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 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.

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Land and buildings

50 years straight line

Furniture, fittings and equipment

2 to 3 years straight line

Motor vehicles

3 years straight line

Other property, plant and equipment

1 to 8 years straight line

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.

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.

Borrowings

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 22 (2024 - 23).

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

173,444

102,803

36,580

128,713

441,540

Additions

-

17,526

-

11,052

28,578

At 31 March 2025

173,444

120,329

36,580

139,765

470,118

Depreciation

At 1 April 2024

64,175

94,186

31,405

109,248

299,014

Charge for the year

3,468

8,417

4,140

18,125

34,150

At 31 March 2025

67,643

102,603

35,545

127,373

333,164

Carrying amount

At 31 March 2025

105,801

17,726

1,035

12,392

136,954

At 31 March 2024

109,270

8,617

5,175

19,465

142,527

Included within the net book value of land and buildings above is £105,801 (2024 - £109,270) in respect of freehold land and buildings.
 

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

2025
£

2024
£

Other inventories

398,141

372,916

6

Debtors

Current

2025
£

2024
£

Trade debtors

846,945

914,490

Prepayments

56,763

10,170

Other debtors

25,273

39,204

 

928,981

963,864

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

9,727

117,913

Trade creditors

 

559,568

515,371

Taxation and social security

 

130,203

159,276

Accruals and deferred income

 

2,950

4,590

Other creditors

 

13,334

-

 

715,782

797,150

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

1,590

11,539

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

1,590

11,539

Current loans and borrowings

2025
£

2024
£

Bank borrowings

9,727

10,823

Bank overdrafts

-

107,090

9,727

117,913

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £56.3876 (2024 - £20.00) per each Ordinary

5,639

2,000

 

 

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £9,018 (2024 - £4,706).

12

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Repayments by director
£

At 31 March 2025
£

Mr N Simmonds

Interest free loan

29,283

(13,193)

16,090

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr N Simmonds

Interest free loan

39,473

(10,190)

29,283

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

83,117

91,724

Contributions paid to money purchase schemes

12,789

8,085

95,906

99,809

Dividends paid to the director

 

Barnvale Engineering & Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2025
£

2024
£

Mr N Simmonds

Interim dividends

5,639

2,000