Bartley Industries Limited Filleted accounts for Companies House (small and micro)

BARTLEY INDUSTRIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00798651

BARTLEY INDUSTRIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2019

BARTLEY INDUSTRIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2019

	2019		2018
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		551,748		578,160

CURRENT ASSETS

Stocks		80,683	88,789
Debtors	6	822,347	909,242
Cash at bank and in hand		732,024	455,085
		------------	------------
		1,635,054	1,453,116

CREDITORS: amounts falling due within one year	7	359,560		326,616
		------------		------------
NET CURRENT ASSETS			1,275,494		1,126,500
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,827,242		1,704,660

CREDITORS: amounts falling due after more than one year	8		40,000		64,000

PROVISIONS	31,364	34,277
	------------	------------
NET ASSETS	1,755,878	1,606,383
	------------	------------

CAPITAL AND RESERVES

Called up share capital	209,443	209,443
Share premium account	11,155	11,155
Other reserves	24,133	24,133
Profit and loss account	1,511,147	1,361,652
	------------	------------
SHAREHOLDERS FUNDS	1,755,878	1,606,383
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BARTLEY INDUSTRIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 4 December 2019 , and are signed on behalf of the board by:

Mr D J Seddon Mr R C P Seddon

Director Director

Company registration number: 00798651

BARTLEY INDUSTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2019

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 138 Northampton Road, Kettering, Northamptonshire, NN15 7JY.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Leasehold improvements	-	Over the period of the lease
Plant and machinery	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 39 (2018: 34 ).

5. TANGIBLE ASSETS

	Freehold property	Long leasehold property	Plant and machinery	Total
	£	£	£	£
Cost
At 1 April 2018	403,942	53,370	356,446	813,758
Additions	–	–	13,000	13,000
	---------	--------	---------	---------
At 31 March 2019	403,942	53,370	369,446	826,758
	---------	--------	---------	---------
Depreciation
At 1 April 2018	14,201	53,370	168,027	235,598
Charge for the year	9,638	–	29,774	39,412
	---------	--------	---------	---------
At 31 March 2019	23,839	53,370	197,801	275,010
	---------	--------	---------	---------
Carrying amount
At 31 March 2019	380,103	–	171,645	551,748
	---------	--------	---------	---------
At 31 March 2018	389,741	–	188,419	578,160
	---------	--------	---------	---------

6. DEBTORS

	2019	2018
	£	£
Trade debtors	639,013	716,741
Amounts owed by group undertakings and undertakings in which the company has a participating interest	152,284	152,284
Other debtors	31,050	40,217
	---------	---------
	822,347	909,242
	---------	---------

7. CREDITORS: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	24,000	24,000
Trade creditors	145,858	120,297
Corporation tax	41,205	28,797
Social security and other taxes	106,370	102,226
Other creditors	42,127	51,296
	---------	---------
	359,560	326,616
	---------	---------

8. CREDITORS: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	40,000	64,000
	--------	--------

9. RELATED PARTY TRANSACTIONS

Advantage has been taken of the exemption conferred by FRS 102 to subsidiary undertakings, of whose voting rights are controlled within the group, not to disclose transactions with other group companies.

10. CONTROLLING PARTY

The company's ultimate parent company is Phoenix Executive Services Limited which is incorporated in England.