REGISTERED NUMBER: 02443566 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024

FOR

BARNETT ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B W T Barnett

D I Barnett

S W Barnett

SECRETARY:

B W T Barnett

REGISTERED OFFICE:

25 Grosvenor Road

Wrexham

LL11 1BT

REGISTERED NUMBER:

02443566 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

HSBC Bank plc.

17-19 Regent Street

Wrexham

LL11 1RY

FIXED ASSETS

Intangible assets

4

3,722

4,426

Tangible assets

5

86,533

61,640

90,255

66,066

CURRENT ASSETS

Stocks

6

7,000

7,000

Debtors

7

488,808

202,780

Cash at bank and in hand

190,502

330,621

686,310

540,401

CREDITORS

Amounts falling due within one year

8

350,138

267,124

NET CURRENT ASSETS

336,172

273,277

TOTAL ASSETS LESS CURRENT LIABILITIES

426,427

339,343

CREDITORS

Amounts falling due after more than one year

9

(3,724

)

-

PROVISIONS FOR LIABILITIES

10

(18,651

)

(11,711

)

NET ASSETS

404,052

327,632

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

403,952

327,532

SHAREHOLDERS' FUNDS

404,052

327,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 14th October 2025 and were signed on its behalf by:

S W Barnett - Director

1.	STATUTORY INFORMATION

Barnett Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods, excluding value added tax adjusted for bad debts.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

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

Leasehold improvements

-

10% on cost

Plant, fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Work in progress comprises direct materials, direct labour and attributable production and other overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st December 2023

19,751

Additions

1,412

At 30th November 2024

21,163

AMORTISATION

At 1st December 2023

15,325

Charge for year

2,116

At 30th November 2024

17,441

NET BOOK VALUE

At 30th November 2024

3,722

At 30th November 2023

4,426

5.	TANGIBLE FIXED ASSETS

Plant,

fixtures

Leasehold

and

Motor

improvements

fittings

vehicles

Totals

£

£

£

£

COST

At 1st December 2023

67,706

287,836

117,769

473,311

Additions

-

1,115

44,032

45,147

Disposals

-

-

(10,195

)

(10,195

)

At 30th November 2024

67,706

288,951

151,606

508,263

DEPRECIATION

At 1st December 2023

67,674

244,496

99,501

411,671

Charge for year

-

11,888

8,366

20,254

Eliminated on disposal

-

-

(10,195

)

(10,195

)

At 30th November 2024

67,674

256,384

97,672

421,730

NET BOOK VALUE

At 30th November 2024

32

32,567

53,934

86,533

At 30th November 2023

32

43,340

18,268

61,640

6.

STOCKS

30.11.24

30.11.23

£

£

Gas, oil and diesel

2,500

2,500

Raw materials and consumables

4,500

4,500

7,000

7,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade debtors

479,329

197,593

Directors' current accounts

3,676

-

Prepayments

5,803

5,187

488,808

202,780

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade creditors

67,665

71,084

Tax

36,704

43,206

Social security and other taxes

6,766

8,572

Wages control account

-

4,725

VAT

84,437

34,807

Other creditors

16,661

16,711

Deferred government grants

1,303

-

Directors' current accounts

64,048

78,123

Accrued expenses

72,554

9,896

350,138

267,124

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.11.23

£

£

Deferred government grants

3,724

-

10.	PROVISIONS FOR LIABILITIES

30.11.24

30.11.23

£

£

Deferred tax

Accelerated capital allowances

18,651

11,711

Deferred

tax

£

Balance at 1st December 2023

11,711

Movement in the year due to:

changes in allowances

3,242

changes in tax rates

3,698

Balance at 30th November 2024

18,651

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.24

30.11.23

value:

£

£

100

Ordinary

£1

100

100

12.	CAPITAL COMMITMENTS

30.11.24

30.11.23

£

£

Contracted but not provided for in the

financial statements

-

-

13.	RELATED PARTY DISCLOSURES