N V Barden Limited Filleted accounts for Companies House (small and micro)

N V BARDEN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05846776

N V Barden Limited

Filleted Unaudited Financial Statements

31 March 2020

N V Barden Limited

Financial Statements

Year ended 31 March 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

N V Barden Limited

Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	6		41,107	53,178

Current assets

Stocks		11,350	3,500
Debtors	7	21,881	51,998
Cash at bank and in hand		124,458	48,793
		---------	---------
		157,689	104,291

Creditors: amounts falling due within one year	8	94,485		77,587
		---------		---------
Net current assets			63,204	26,704
			---------	--------
Total assets less current liabilities			104,311	79,882

Creditors: amounts falling due after more than one year	9		8,725	17,631

Provisions

Taxation including deferred tax	7,810	10,104
	---------	--------
Net assets	87,776	52,147
	---------	--------

N V Barden Limited

Statement of Financial Position (continued)

31 March 2020

	2020		2019
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	87,676	52,047
	--------	--------
Shareholders funds	87,776	52,147
	--------	--------

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 Section 1A of 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 2020 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 .

These financial statements were approved by the board of directors and authorised for issue on 19 September 2020 , and are signed on behalf of the board by:

Mr K Barden	Mr G Barden
Director	Director

Mrs K Russell
Director

Company registration number: 05846776

N V Barden Limited

Notes to the Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Hockers Lane, Detling, Maidstone, Kent, ME14 3JN.

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Motor vehicles	-	25% reducing balance
Equipment	-	10% 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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 3 (2019: 3 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2019 and 31 March 2020	44,000
	--------
Amortisation
At 1 April 2019 and 31 March 2020	44,000
	--------
Carrying amount
At 31 March 2020	–
	--------
At 31 March 2019	–
	--------

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2019	53,918	13,235	67,153
Additions	–	392	392
	--------	--------	--------
At 31 March 2020	53,918	13,627	67,545
	--------	--------	--------
Depreciation
At 1 April 2019	6,546	7,429	13,975
Charge for the year	11,843	620	12,463
	--------	--------	--------
At 31 March 2020	18,389	8,049	26,438
	--------	--------	--------
Carrying amount
At 31 March 2020	35,529	5,578	41,107
	--------	--------	--------
At 31 March 2019	47,372	5,806	53,178
	--------	--------	--------

7. Debtors

	2020	2019
	£	£
Trade debtors	18,930	46,509
Other debtors	2,951	5,489
	--------	--------
	21,881	51,998
	--------	--------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	8,571	–
Corporation tax	33,718	29,382
Social security and other taxes	6,228	13,773
Other creditors	45,968	34,432
	--------	--------
	94,485	77,587
	--------	--------

9. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Other creditors	8,725	17,631
	-------	--------

10. Related party transactions

At the balance sheet date, the company owed the Directors £5,046 (2019: £3,082).