Barrington Jarvis Limited - Period Ending 2019-10-31
Barrington Jarvis Limited - Period Ending 2019-10-31
Registration number:
Barrington Jarvis Limited
for the Year Ended 31 October 2019
Barrington Jarvis Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Barrington Jarvis Limited
(Registration number: 02720612)
Balance Sheet as at 31 October 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Page 1 |
Barrington Jarvis Limited
(Registration number: 02720612)
Balance Sheet as at 31 October 2019
For the financial year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
.........................................
Director
Page 2 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Group accounts not prepared
Page 3 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of financial services to the general public, and the servicing of two appointed representatives, within the normal course of the companies activities, as independent financial consultants. Turnover is shown as Commissions net of claw back's and payments to introducer's.
Commissions on transactions in life policies and pension contracts are recognised on a receipts basis as amended for commissions due in the year and confirmed paid after the year end. Commissions on policies written under indemnity terms are reduced by a provision for payment in the event that premiums cease within the indemnity period. At the balance sheet date this provision was not made on the basis of materiality.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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:
Page 4 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Asset class |
Depreciation method and rate |
Leasehold improvements |
25% straight line |
Office equipment |
20% reducing balance |
Other equipment |
25% straight line |
Computer equipment |
33.33% straight line |
Motor cars |
25% reducing balance |
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.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Tangible assets |
Leasehold improvements |
Office equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 November 2018 |
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Additions |
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Disposals |
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- |
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( |
At 31 October 2019 |
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Depreciation |
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At 1 November 2018 |
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Charge for the year |
- |
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Eliminated on disposal |
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( |
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- |
( |
At 31 October 2019 |
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Carrying amount |
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At 31 October 2019 |
- |
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At 31 October 2018 |
- |
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Page 6 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Investments |
2019 |
2018 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 November 2018 |
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Provision |
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Carrying amount |
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At 31 October 2019 |
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At 31 October 2018 |
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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:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2019 |
2018 |
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Subsidiary undertakings |
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Charlotte House,
England and Wales |
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Subsidiary undertakings |
Austin De Vere Limited The principal activity of Austin De Vere Limited is |
Page 7 |
Barrington Jarvis Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of operating lease commitments not included in the balance sheet is £
Page 8 |