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Company No: 01362146 (England and Wales)

# BARNBROOK SYSTEMS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

BARNBROOK SYSTEMS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

BARNBROOK SYSTEMS LIMITED

## COMPANY INFORMATION

For the financial year ended 30 June 2025
BARNBROOK SYSTEMS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 June 2025

DIRECTORS | A Barnett
| A Barnett

REGISTERED OFFICE | 25 Fareham Park Road
| Fareham
| Hampshire
| PO15 6LD
| United Kingdom

COMPANY NUMBER | 01362146 (England and Wales)

ACCOUNTANT | S&W Partners LLP
| 4th Floor Cumberland House
| 15-17 Cumberland Place
| Southampton
| Hampshire
| SO15 2BG

BANKERS | National Westminster Bank Plc
| Bay House
| North Harbour Business Park
| Portsmouth
| Hampshire
| PO6 4RS

| Barclays Bank Plc
| 67/69 West Street
| Fareham
| Hampshire
| PO16 0AW

BARNBROOK SYSTEMS LIMITED

## BALANCE SHEET

As at 30 June 2025
BARNBROOK SYSTEMS LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,644,617 |  | 216,809
|  | 1,644,617 |  | 216,809
Current assets |  |  |  |
Stocks |  | 895,238 |  | 540,480
Debtors | 4 | 443,216 |  | 709,740
Cash at bank and in hand |  | 1,802,543 |  | 2,981,698
|  | 3,140,997 |  | 4,231,918
Creditors: amounts falling due within one year | 5 | ( 412,058) |  | ( 285,240)
Net current assets |  | 2,728,939 |  | 3,946,678
Total assets less current liabilities |  | 4,373,556 |  | 4,163,487
Provision for liabilities | 6 | ( 68,993) |  | ( 58,191)
Net assets |  | 4,304,563 |  | 4,105,296
Capital and reserves |  |  |  |
Called-up share capital |  | 2 |  | 2
Profit and loss account |  | 4,304,561 |  | 4,105,294
Total shareholder's funds |  | 4,304,563 |  | 4,105,296

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Barnbrook Systems Limited (registered number: 01362146) were approved and authorised for issue by the Board of Directors on 10 March 2026. They were signed on its behalf by:

A Barnett Director |  | A Barnett Director

BARNBROOK SYSTEMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
BARNBROOK SYSTEMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Barnbrook Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 25 Fareham Park Road, Fareham, Hampshire, PO15 6LD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Barnbrook Systems Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.

##### Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 30 years straight line
Investment property | not depreciated
Plant and machinery | 20 % reducing balance
Vehicles | 20 % reducing balance
Fixtures and fittings | 20 % reducing balance
Office equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate. During the year, the method for estimating provisions for obsolete, slow-moving or defective stock items was revised to better reflect current trading conditions. This change in accounting estimate has been applied prospectively. The impact of the change resulted in a reduction in the provision from £808,974 (under the previous method) to £348,724.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments are equity investments over which the company has no significant influence, joint control or control and are initially measured at transaction price. Transaction price includes transaction costs, except where investments are measured at fair value through profit or loss when transaction costs are expensed to profit or loss as incurred.
Investments are measured at fair value through profit or loss, or cost less impairment if fair value cannot be measured reliably.
The fair value of investments quoted on a recognised stock exchange is the quoted bid price. The fair value of unlisted investments is measured using valuation techniques which include turnover multiple, earnings multiple, net assets or discounted cash flows, as appropriate, based on the nature and circumstances of the investment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### 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.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 42 |  | 31

#### 3. Tangible assets

| Land and buildings |  | Investment property |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost/Valuation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 July 2024 | 0 |  | 0 |  | 187,072 |  | 111,795 |  | 1,117 |  | 291,169 |  | 591,153
Additions | 899,500 |  | 350,000 |  | 4,779 |  | 304,559 |  | 7,805 |  | 9,926 |  | 1,576,569
Disposals | 0 |  | 0 |  | 0 |  | ( 100,131) |  | 0 |  | 0 |  | ( 100,131)
At 30 June 2025 | 899,500 |  | 350,000 |  | 191,851 |  | 316,223 |  | 8,922 |  | 301,095 |  | 2,067,591
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 July 2024 | 0 |  | 0 |  | 111,098 |  | 7,805 |  | 242 |  | 255,199 |  | 374,344
Charge for the financial year | 14,992 |  | 0 |  | 15,692 |  | 34,429 |  | 451 |  | 8,184 |  | 73,748
Disposals | 0 |  | 0 |  | 0 |  | ( 25,118) |  | 0 |  | 0 |  | ( 25,118)
At 30 June 2025 | 14,992 |  | 0 |  | 126,790 |  | 17,116 |  | 693 |  | 263,383 |  | 422,974
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 30 June 2025 | 884,508 |  | 350,000 |  | 65,061 |  | 299,107 |  | 8,229 |  | 37,712 |  | 1,644,617
At 30 June 2024 | 0 |  | 0 |  | 75,974 |  | 103,990 |  | 875 |  | 35,970 |  | 216,809

Investment properties

At the reporting date, the directors consider that the purchase cost continues to reflect fair value and therefore no fair value adjustment has been recognised.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 368,122 |  | 644,703
Other debtors | 75,094 |  | 65,037
| 443,216 |  | 709,740

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 106,821 |  | 98,105
Taxation and social security | 97,468 |  | 136,787
Other creditors | 207,769 |  | 50,348
| 412,058 |  | 285,240

#### 6. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 35,131 |  | 23,014
Product warranty provision | 33,862 |  | 35,177
| 68,993 |  | 58,191

Product warranties

A provision of £33,862 (2024 - £35,177 ) has been recognised for expected warranty claims on goods sold, expected to be incurred in the next financial year.