Barkess & Co - Period Ending 2014-04-30

Registration number: 6772024

Barkess & Co

trading as Barkess & Co

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Chris Barkess FCA

Barkess & Co
trading as Barkess & Co
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Barkess & Co
trading as Barkess & Co
for the Year Ended 30 April 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Barkess & Co for the year ended 30 April 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Barkess & Co , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Barkess & Co and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barkess & Co and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Barkess & Co has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Barkess & Co . You consider that Barkess & Co is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Barkess & Co . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Chris Barkess FCA

1 September 2014

Page 1

Barkess & Co
trading as Barkess & Co
(Registration number: 6772024)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					25,000			30,000
Tangible fixed assets					5,400			6,805
Investments					300			300
					30,700			37,105
Current assets
Debtors					71,668			40,577
Creditors: Amounts falling due within one year					(78,134)			(55,227)
Net current liabilities					(6,466)			(14,650)
Total assets less current liabilities					24,234			22,455
Provisions for liabilities					(1,080)			(1,421)
Net assets					23,154			21,034
Capital and reserves
Called up share capital		4			10			10
Profit and loss account					23,144			21,024
Shareholders' funds					23,154			21,034

For the year ending 30 April 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 1 September 2014

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Barkess & Co
trading as Barkess & Co
(Registration number: 6772024)
Abbreviated Balance Sheet at 30 April 2014
......... continued

.........................................
Chris Barkess
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Barkess & Co
trading as Barkess & Co
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% reducing balance
Furniture Fixtures & Fittings	15% reducing balance

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

Barkess & Co
trading as Barkess & Co
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 May 2013		50,000			13,040			300			63,340
At 30 April 2014		50,000			13,040			300			63,340
Depreciation
At 1 May 2013		20,000			6,235			-			26,235
Charge for the year		5,000			1,405			-			6,405
At 30 April 2014		25,000			7,640			-			32,640
Net book value
At 30 April 2014		25,000			5,400			300			30,700
At 30 April 2013		30,000			6,805			300			37,105

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		13,558			14,624

Page 5

Barkess & Co
trading as Barkess & Co
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		10			10			10			10

Page 6