Barry Norman - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01511132 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2019 TO 31 MARCH 2020

FOR

BARRY NORMAN

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms A E Norman

Ms S J Norman

SECRETARY:

Ms A E Norman

REGISTERED OFFICE:

42 Bury Lane

Datchworth

Hertfordshire

SG3 6ST

REGISTERED NUMBER:

01511132 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

108 High Street

Stevenage

Hertfordshire

SG1 3DW

FIXED ASSETS

Tangible assets

4

103

137

Investments

5

567,798

943,095

567,901

943,232

CURRENT ASSETS

Debtors

6

246,183

406,674

Cash at bank

426,011

72,386

672,194

479,060

CREDITORS

Amounts falling due within one year

7

17,024

82,193

NET CURRENT ASSETS

655,170

396,867

TOTAL ASSETS LESS CURRENT LIABILITIES

1,223,071

1,340,099

PROVISIONS FOR LIABILITIES

23,670

49,130

NET ASSETS

1,199,401

1,290,969

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

100,917

209,449

Retained earnings

8

1,098,384

1,081,420

SHAREHOLDERS' FUNDS

1,199,401

1,290,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 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 25 June 2020 and were signed on its behalf by:

Ms A E Norman - Director

Ms S J Norman - Director

1.	STATUTORY INFORMATION

Barry Norman is a private company , 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 as modified by the revaluation of certain assets.

As at the balance sheet date, the emergence of the COVID-19 pandemic had begun to have a major impact on the

economies of the UK and the World. Accordingly, the directors have assessed the carrying values of all assets

and liabilities and any estimates contained therein as at the balance sheet date so as to reflect the then known

economic conditions and any impact of the virus so far as they could have been reasonably known or anticipated

as at the balance sheet date.

The directors recognise that there will inevitably be an impact on the UK and World economies due to the social

and economic consequences of COVID-19 but in line with some political and economic commentators' views the

directors are hopeful that trading conditions will eventually improve with a consequential positive impact on the

World's stock markets.

Meanwhile the valuation of the company's investment portfolio reflects the market position as at the period end,

which generated a reduction in value.The company's other major non-cash asset is a loan due by Flow Properties

Limited. The recoverabiliy of that loan is underpinned by the property values held by the lendee company and

the directors, also being directors of the lendee, are satisfied that although down the aggregate property values

will be sufficient to support the debt due to this company.

On the basis of all of the foregoing, the financial statements for the period ended 31st March 2020 have been

prepared using the going concern basis of accounting.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates

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

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

considered to be relevant. Actual results may differ from those 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.

Tangible fixed assets

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

Office equipment

-

25% on reducing balance

Financial instruments

The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11

of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and

trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given

the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts.

Provision is made where this is objective evidence to suggest that the company will not be in a position to collect

receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on

identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash

commitments.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 June 2019

and 31 March 2020

12,515

DEPRECIATION

At 1 June 2019

12,378

Charge for period

34

At 31 March 2020

12,412

NET BOOK VALUE

At 31 March 2020

103

At 31 May 2019

137

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2019

943,095

Additions

62,498

Disposals

(303,798

)

Revaluations

(133,997

)

At 31 March 2020

567,798

NET BOOK VALUE

At 31 March 2020

567,798

At 31 May 2019

943,095

Cost or valuation at 31 March 2020 is represented by:

Other

investments

£

Valuation in 2018

295,949

Valuation in 2019

(37,373

)

Valuation in 2020

(133,997

)

Cost

443,219

567,798

Fixed asset investments were valued on an open market basis on 31 March 2020 by Investec Wealth & Investment

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

246,183

406,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

13,843

335

Other creditors

3,181

81,858

17,024

82,193

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 June 2019

1,081,420

209,449

1,290,869

Deficit for the period

(18,038

)

(18,038

)

Dividends

(73,530

)

(73,530

)

Transfer of fair value adjustment on investments net of deferred tax thereon

108,532

(108,532

)

-

At 31 March 2020

1,098,384

100,917

1,199,301