Barrie Simons and Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05214350 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Barrie Simons and Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B W J Simons

B Callister

SECRETARY:

B W J Simons

REGISTERED OFFICE:

First Floor Cef Building

Broomhill Way

Torquay

Devon

TQ2 7QN

REGISTERED NUMBER:

05214350 (England and Wales)

ACCOUNTANTS:

Mark Ward Chartered Certified Accountants

First Floor Cef Building

Broomhill Way

Torquay

Devon

TQ2 7QN

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

5,324

5,915

5,325

5,916

CURRENT ASSETS

Stocks

10,032

10,296

Debtors

6

45,993

51,349

Cash in hand

677

870

56,702

62,515

CREDITORS

Amounts falling due within one year

7

57,976

61,692

NET CURRENT (LIABILITIES)/ASSETS

(1,274

)

823

TOTAL ASSETS LESS CURRENT LIABILITIES

4,051

6,739

CREDITORS

Amounts falling due after more than one year

8

(2,039

)

(5,190

)

PROVISIONS FOR LIABILITIES

(1,011

)

(1,124

)

NET ASSETS

1,001

425

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

901

325

SHAREHOLDERS' FUNDS

1,001

425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2020 and were signed on its behalf by:

B W J Simons - Director

1.	STATUTORY INFORMATION

Barrie Simons and Associates 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.

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.

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

amounts in these financial statements are rounded to the nearest £1.

Critical accounting judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and

assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period,

or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Land and buildings

-

Over the term of the lease

Plant and machinery etc

-

10% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

The company holds the following financial instruments:

- Short term trade and other debtors and creditors;

- Bank loans; and

- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the

instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets

expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of

liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs,

and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be

paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried

at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. Thus the

directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

80,000

1

80,001

AMORTISATION

At 1 October 2018

and 30 September 2019

80,000

-

80,000

NET BOOK VALUE

At 30 September 2019

-

1

1

At 30 September 2018

-

1

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

1,349

24,919

26,268

DEPRECIATION

At 1 October 2018

1,348

19,005

20,353

Charge for year

-

591

591

At 30 September 2019

1,348

19,596

20,944

NET BOOK VALUE

At 30 September 2019

1

5,323

5,324

At 30 September 2018

1

5,914

5,915

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

25,965

31,788

Other debtors

20,028

19,561

45,993

51,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

33,058

34,932

Trade creditors

1,663

1,531

Taxation and social security

20,295

19,881

Other creditors

2,960

5,348

57,976

61,692

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans

2,039

5,190

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2019 and

30 September 2018:

30.9.19

30.9.18

£

£

B W J Simons

Balance outstanding at start of year

12,771

10,096

Amounts advanced

-

2,675

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,771

12,771