REGISTERED NUMBER: 05624540 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

BARNES FENCING SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P A Barnes

Mrs P M Barnes

SECRETARY:

Mr P A Barnes

REGISTERED OFFICE:

39 The Metro Centre

Tolpits Lane

Watford

Hertfordshire

WD18 9SB

REGISTERED NUMBER:

05624540 (England and Wales)

ACCOUNTANTS:

Meades Group Limited

39 The Metro Centre

Tolpits Lane

Watford

Hertfordshire

WD18 9SB

FIXED ASSETS

Intangible assets

4

2,875

4,375

Tangible assets

5

127,761

107,991

130,636

112,366

CURRENT ASSETS

Stocks

197,649

158,312

Debtors

6

512,926

448,058

Investments

7

562,000

562,000

Cash at bank and in hand

278,856

205,242

1,551,431

1,373,612

CREDITORS

Amounts falling due within one year

8

496,712

307,906

NET CURRENT ASSETS

1,054,719

1,065,706

TOTAL ASSETS LESS CURRENT LIABILITIES

1,185,355

1,178,072

CREDITORS

Amounts falling due after more than one year

9

(56,727

)

(96,756

)

PROVISIONS FOR LIABILITIES

(31,940

)

(26,998

)

NET ASSETS

1,096,688

1,054,318

CAPITAL AND RESERVES

Called up share capital

201

201

Retained earnings

1,096,487

1,054,117

SHAREHOLDERS' FUNDS

1,096,688

1,054,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2025 and were signed on its behalf by:

Mr P A Barnes - Director

1.	STATUTORY INFORMATION

Barnes Fencing Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the supply of fencing and allied supplies, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments

Current asset investments are included at cost. Income attributable to the asset is written off to the profit and loss in the period it occurs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

30,000

AMORTISATION

At 1st January 2024

25,625

Charge for year

1,500

At 31st December 2024

27,125

NET BOOK VALUE

At 31st December 2024

2,875

At 31st December 2023

4,375

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

7,500

99,508

210,956

9,036

327,000

Additions

-

18,420

35,500

-

53,920

At 31st December 2024

7,500

117,928

246,456

9,036

380,920

DEPRECIATION

At 1st January 2024

7,447

98,152

106,304

7,106

219,009

Charge for year

13

3,793

29,861

483

34,150

At 31st December 2024

7,460

101,945

136,165

7,589

253,159

NET BOOK VALUE

At 31st December 2024

40

15,983

110,291

1,447

127,761

At 31st December 2023

53

1,356

104,652

1,930

107,991

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

16,523

21,731

Other debtors

480,770

413,320

Prepayments

15,633

13,007

512,926

448,058

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Other

562,000

562,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

40,000

40,000

Trade creditors

304,967

121,447

Pension contributions payable

1,623

1,511

Corporation tax

44,823

72,317

VAT

54,031

30,670

Directors' current accounts

51,268

41,961

496,712

307,906

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans more than a year

56,727

96,756

10.	RELATED PARTY DISCLOSURES

The directors' current account balances of £51,268 (2023 - £41,961) have no fixed date for repayment, are repayable upon demand and are non-interest bearing.