Barton Storage Systems Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Barton Storage Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04998042 . The registered office is Barton Industrial Park, Mount Pleasant, Bilston, West Midlands, WV14 7NG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.

2.3. Turnover

Turnover is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised at point of sale when the significant risks and rewards of ownership have passed to the buyer.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Purchased Intangible Assets

Purchased intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortization and impairment losses.

All intangible assets are considered to have a finite useful life. The estimated useful lives are as follows:

Patents – 10 years straight line

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged to profit or loss over the estimated useful economic lives as follows:

Freehold	2% straight line
Plant, Machinery & Equipment	3-15 years straight line
Fixtures & Fittings	6 years straight line

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.

Property Valuation Model

Freehold land and buildings are carried at revalued amounts, being fair value at the date of revaluation less subsequent depreciation on buildings. Fair value is based on market value, usually determined by an independent, professionally qualified valuer. Revaluations are performed with sufficient regularity such that the carrying amount does not differ materially from fair value at the reporting date.

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Barton Storage Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Tangible Fixed Assets and Depreciation - continued

Increases in carrying amount arising on revaluation are recognised in other comprehensive income and accumulated in equity in the revaluation reserve, except to the extent that they reverse a revaluation decrease of the same asset previously recognised in profit or loss. Decreases in carrying amount are recognised in profit or loss, except to the extent that they reverse a previous revaluation surplus on the same asset, in which case the decrease is recognised in other comprehensive income and reduces the revaluation reserve.

On subsequent disposal of a revalued property, the balance on the revaluation reserve relating to that property is transferred directly to retained earnings.

Land is not depreciated. Buildings are depreciated to their estimated residual values on a straight-line basis over their estimated useful lives.

2.6. Leasing and Hire Purchase Contracts

Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.

Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease an an integral part of the total lease expenses.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

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Barton Storage Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.10. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.

2.12. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.13. Related party exemption

The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.

Preparation of consolidated financial statements

The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.

2.14. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

3. Average Number of Employees

Average number of employees during the year was: 26 (2024: 26)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	225

As at 31 March 2025	225

Amortisation
As at 1 April 2024	225

As at 31 March 2025	225

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

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Barton Storage Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	690,000	822,005	1,512,005
Additions	-	292,877	292,877

As at 31 March 2025	690,000	1,114,882	1,804,882

Depreciation
As at 1 April 2024	6,900	547,206	554,106
Provided during the period	13,800	85,579	99,379

As at 31 March 2025	20,700	632,785	653,485

Net Book Value
As at 31 March 2025	669,300	482,097	1,151,397

As at 1 April 2024	683,100	274,799	957,899

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	416,186
Accumulated depreciation and impairment	20,700

Carrying amount	395,486

6. Stocks

	2025	2024
	£	£
Stock	600,448	637,296

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,796,492	2,116,109
Prepayments and accrued income	97,055	92,582
Other debtors	6,158	5,058
Amounts owed by group undertakings	1,958,000	1,608,000

	3,857,705	3,821,749

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Barton Storage Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	885,203	1,255,918
Other taxes and social security	216,761	231,911
Other creditors	1,266,349	1,006,446
Accruals and deferred income	488,867	425,846

	2,857,180	2,920,121

The factoring facility of £1,266,339 (2024 - £917,917) included in other creditors, is secured by a fixed charge on the property, as well as a floating charge on the company's other assets in favour of Barclays Bank Plc, dated 30 June 2023.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	123,475	-
Later than one year and not later than five years	372,363	-

	495,838	-

11. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2024	325,708	2,114,645
Profit for the year and total comprehensive income	-	345,564

Dividends paid	-	(159,900)

As at 31 March 2025	325,708	2,300,309

12. Related Party Transactions

The amounts due by the parent company are interest free and repayable on demand.

No consolidated financial statements are drawn up for any group of which the company is a member.

13. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the parent company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,151,397		957,899

			1,151,397		957,899
CURRENT ASSETS
Stocks	6	600,448		637,296
Debtors	7	3,857,705		3,821,749
Cash at bank and in hand		36,847		94,217

		4,495,000		4,553,262
Creditors: Amounts Falling Due Within One Year	8	(2,857,180 )		(2,920,121 )

NET CURRENT ASSETS (LIABILITIES)			1,637,820		1,633,141

TOTAL ASSETS LESS CURRENT LIABILITIES			2,789,217		2,591,040

PROVISIONS FOR LIABILITIES
Deferred Taxation			(163,000 )		(150,487 )

NET ASSETS			2,626,217		2,440,553

CAPITAL AND RESERVES
Called up share capital	9		200		200
Revaluation reserve	11		325,708		325,708
Profit and Loss Account			2,300,309		2,114,645

SHAREHOLDERS' FUNDS			2,626,217		2,440,553