Barn Glass Group Limited

Barn Glass Group Limited

BARN GLASS GROUP LIMITED - Company Information

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1 April 2018 false Taxfiler 2019.12.Web 00797439business:PrivateLimitedCompanyLtd2018-04-012019-03-30 007974392018-03-31 007974392018-04-012019-03-30 00797439business:AuditExemptWithAccountantsReport2018-04-012019-03-30 00797439business:FullAccounts2018-04-012019-03-30 007974392019-03-30 00797439business:Director12018-04-012019-03-30 00797439business:Director22018-04-012019-03-30 00797439business:RegisteredOffice2018-04-012019-03-30 007974392018-03-31 00797439core:WithinOneYear2019-03-30 00797439core:WithinOneYear2018-03-31 00797439core:ShareCapital2019-03-30 00797439core:ShareCapital2018-03-31 00797439core:RetainedEarningsAccumulatedLosses2019-03-30 00797439core:RetainedEarningsAccumulatedLosses2018-03-31 00797439business:SmallEntities2018-04-012019-03-30 00797439countries:EnglandWales2018-04-012019-03-30 00797439core:LandBuildings2018-04-012019-03-30 00797439core:PlantMachinery2018-04-012019-03-30 00797439core:MotorVehicles2018-04-012019-03-30 00797439core:FurnitureFittings2018-04-012019-03-30 00797439core:ComputerEquipment2018-04-012019-03-30 00797439core:LandBuildings2018-03-31 00797439core:PlantMachinery2018-03-31 00797439core:MotorVehicles2018-03-31 00797439core:FurnitureFittings2018-03-31 00797439core:ComputerEquipment2018-03-31 00797439core:LandBuildings2019-03-30 00797439core:PlantMachinery2019-03-30 00797439core:MotorVehicles2019-03-30 00797439core:FurnitureFittings2019-03-30 00797439core:ComputerEquipment2019-03-30 00797439business:OrdinaryShareClass12018-04-012019-03-30 00797439business:OrdinaryShareClass12017-04-012018-03-31 00797439core:BetweenOneFiveYears2019-03-30 00797439core:BetweenOneFiveYears2018-03-31 00797439core:MoreThanFiveYears2019-03-30 00797439core:MoreThanFiveYears2018-03-31 007974392017-04-012018-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 00797439 (England and Wales)
Barn Glass Group Limited Unaudited accounts for the period from 1 April 2018 to 30 March 2019
Barn Glass Group Limited Unaudited accounts Contents
Page
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Barn Glass Group Limited Company Information for the period from 1 April 2018 to 30 March 2019
Directors
Mr M T Delaiche Mr S P M Delaiche
Company Number
00797439 (England and Wales)
Registered Office
Munro House Portsmouth Road Cobham Surrey KT11 1PP United Kingdom
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Barn Glass Group Limited Statement of financial position as at 30 March 2019
2019 
2018 
Notes
£ 
£ 
Fixed assets
Tangible assets
3
199,893 
212,095 
Investment property
4
- 
732,470 
Investments
5
200 
200 
200,093 
944,765 
Current assets
Inventories
6
45,130 
52,146 
Debtors
7
102,215 
160,422 
Cash at bank and in hand
38 
69,290 
147,383 
281,858 
Creditors: amounts falling due within one year
8
(116,244)
(75,718)
Net current assets
31,139 
206,140 
Net assets
231,232 
1,150,905 
Capital and reserves
Called up share capital
9
5,000 
5,000 
Profit and loss account
226,232 
1,145,905 
Shareholders' funds
231,232 
1,150,905 
For the period ending 30 March 2019 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 7 February 2020.
Mr M T Delaiche Director Company Registration No. 00797439
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Barn Glass Group Limited Notes to the Accounts for the period from 1 April 2018 to 30 March 2019
1
Statutory information
Barn Glass Group Limited is a private company, limited by shares, registered in England and Wales, registration number 00797439. The registered office is Munro House, Portsmouth Road, Cobham, Surrey, KT11 1PP, United Kingdom. The principal place of business is Kimpton Road Industrial Estate, 7 Sandiford Rd, Sutton, Surrey, SM3 9RN.
2
Accounting policies
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The following principal accounting policies have been applied:
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS102. There have been no material deviations from the standard.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Land & buildings
Over the duration of the lease
Plant & machinery
10% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
33.33% straight line
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
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Barn Glass Group Limited Notes to the Accounts for the period from 1 April 2018 to 30 March 2019
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Barn Glass Group Limited Notes to the Accounts for the period from 1 April 2018 to 30 March 2019
3
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2018
325,480 
90,817 
22,794 
18,995 
64,067 
522,153 
Additions
- 
- 
- 
- 
416 
416 
Disposals
- 
(81,389)
- 
(170)
(55,866)
(137,425)
At 30 March 2019
325,480 
9,428 
22,794 
18,825 
8,617 
385,144 
Depreciation
At 1 April 2018
134,622 
86,212 
15,028 
10,847 
63,349 
310,058 
Charge for the period
6,011 
308 
1,942 
1,466 
421 
10,148 
On disposals
- 
(78,923)
- 
(169)
(55,863)
(134,955)
At 30 March 2019
140,633 
7,597 
16,970 
12,144 
7,907 
185,251 
Net book value
At 30 March 2019
184,847 
1,831 
5,824 
6,681 
710 
199,893 
At 31 March 2018
190,858 
4,605 
7,766 
8,148 
718 
212,095 
4
Investment property
2019 
£ 
Fair value at 1 April 2018
732,470 
Disposals
732,470 
At 30 March 2019
- 
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Barn Glass Group Limited Notes to the Accounts for the period from 1 April 2018 to 30 March 2019
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2018
200 
Valuation at 30 March 2019
200 
Details of undertakings Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows: Subsidiary undertakings Barn Glass Works Limited, which the company holds 100 Ordinary shares at £1 each. It's principal activity is trade and retail glazing sales. Barn Glass Limited, which the company holds 100 Ordinary shares at £1 each. It's principal activity is dormant. Both subsidiaries' registered office is Munro House, Portsmouth Road, Cobham, Surrey, KT11 1PP.
6
Inventories
2019 
2018 
£ 
£ 
Work in progress
5,000 
5,000 
Finished goods
40,130 
47,146 
45,130 
52,146 
7
Debtors
2019 
2018 
£ 
£ 
Trade debtors
67,356 
22,607 
Amounts due from group undertakings etc.
- 
84,972 
Accrued income and prepayments
17,223 
31,138 
Other debtors
17,636 
21,705 
102,215 
160,422 
8
Creditors: amounts falling due within one year
2019 
2018 
£ 
£ 
Bank loans and overdrafts
6,569 
- 
Trade creditors
50,781 
39,304 
Amounts owed to group undertakings and other participating interests
8,126 
100 
Taxes and social security
27,436 
14,497 
Other creditors
8,917 
574 
Accruals
14,415 
21,243 
116,244 
75,718 
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Barn Glass Group Limited Notes to the Accounts for the period from 1 April 2018 to 30 March 2019
9
Share capital
2019 
2018 
£ 
£ 
Allotted, called up and fully paid:
5,000 Ordinary shares of £1 each
5,000 
5,000 
10
Operating lease commitments
2019 
2018 
£ 
£ 
At 30 March 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
27,200 
27,200 
Within two to five years
108,800 
108,800 
More than five years
509,606 
532,087 
645,606 
668,087 
11
Transactions with related parties
The company has taken the exemption under FRS102 Section 33.1A not to disclose transactions and balances with other members of the group on the basis they are wholly owned by the parent company. At the year end the directors owed the Company £12,533 (2018: £12,239) which is included in other debtors due within one year. The loan is interest free and has no fixed repayment terms.
12
Controlling party
The ultimate parent undertaking and controlling party is Barn Glass Solutions Limited, a company incorporated in England and Wales. The registered office is Munro House, Portsmouth Road, Cobham, Surrey, KT11 1PP. The principal place of business is 7 Sandiford Road, Kimpton Road Industrial Estate, Sutton, Surrey, SM3 9RN.
13
Average number of employees
During the period the average number of employees was 11 (2018: 20).
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