Barnard Design Consultancy Limited - Limited company accounts 20.1

REGISTERED NUMBER: 01459398 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

BARNARD DESIGN CONSULTANCY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

7

Notes to the Financial Statements

8

DIRECTORS:

Miss J E Barnard

M E Barnard

Mrs G A Haskey

SECRETARY:

Mrs G A Haskey

REGISTERED OFFICE:

24 Bedford Row

London

WC1R 4TQ

REGISTERED NUMBER:

01459398 (England and Wales)

ACCOUNTANTS:

Mehta & Tengra

Chartered Accountants

24 Bedford Row

London

WC1R 4TQ

BANKERS:

Cater Allen Private Bank

9 Nelson Street

Bradford

BD1 5AN

The directors present their report with the financial statements of the company for the year ended 31 December 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of design and engineering consultants.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2019 to the date of this report.

Miss J E Barnard

M E Barnard

Mrs G A Haskey

FIXED ASSETS

Changes of fixed assets are shown in notes 7 & 8 to the financial statements.

RELATED PARTY TRANSACTIONS

There were no related party transactions during the year.

TAXATION STATUS

The company is a close company within the provision of the Corporation Taxes Act 2010.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs G A Haskey - Director

30 September 2020

TURNOVER

3

17,924

863

Cost of sales

(15,411

)

(300

)

GROSS PROFIT

2,513

563

Administrative expenses

(6,119

)

(4,293

)

OPERATING LOSS and

LOSS BEFORE TAXATION

(3,606

)

(3,730

)

Tax on loss

6

137

(266

)

LOSS FOR THE FINANCIAL YEAR

(3,469

)

(3,996

)

LOSS FOR THE YEAR

(3,469

)

(3,996

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(3,469

)

(3,996

)

FIXED ASSETS

Tangible assets

8

4,104

4,828

Investment property

9

465,554

465,554

469,658

470,382

CURRENT ASSETS

Stocks

10

22,584

22,472

Debtors

11

54,066

63,279

Cash at bank

12,418

2,315

89,068

88,066

CREDITORS

Amounts falling due within one year

12

(6,225

)

(452,341

)

NET CURRENT ASSETS/(LIABILITIES)

82,843

(364,275

)

TOTAL ASSETS LESS CURRENT LIABILITIES

552,501

106,107

CREDITORS

Amounts falling due after more than one year

13

(450,000

)

-

PROVISIONS FOR LIABILITIES

14

(780

)

(917

)

NET ASSETS

101,721

105,190

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

16

101,621

105,090

SHAREHOLDERS' FUNDS

17

101,721

105,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2020 and were signed on its behalf by:

Mrs G A Haskey - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2018

100

149,086

149,186

Changes in equity

Dividends

-

(40,000

)

(40,000

)

Total comprehensive income

-

(3,996

)

(3,996

)

Balance at 31 December 2018

100

105,090

105,190

Changes in equity

Total comprehensive income

-

(3,469

)

(3,469

)

Balance at 31 December 2019

100

101,621

101,721

1.	STATUTORY INFORMATION

Barnard Design Consultancy 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 have been prepared in accordance with applicable Accounting Standards in the United Kingdom. A summary of more important policies which have been applied consistently is set out below:

Turnover

Turnover represents the amount derived from the sale of services within the company's ordinary activities after deducting value added tax.

Tangible fixed assets

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

Furniture and equipment

-

10% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock & work in progress

Stock and Work in Progress represents all costs associated with projects conducted.

Stock and Work in Progress is valued at cost and written off when the project comes to fruition.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a small self administered pension scheme for its directors. The company operates a group money purchase scheme for one of its employees. The funds are held separately from the company in independently administered funds. Contributions are charged to the profit and loss account.

Investments

Investments reflected as current assets are stated at cost less provision for impairment.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

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

2019

2018

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

2019

2018

£

£

Depreciation - owned assets

724

852

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2019

2018

£

£

Deferred tax:

(Reversal)/ Origination of timing difference

(137

)

266

Tax on loss

(137

)

266

Reconciliation of total tax (credit)/charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2019

2018

£

£

Loss before tax

(3,606

)

(3,730

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2018 - 19%)

(685

)

(709

)

Effects of:

Depreciation in excess of capital allowances

138

162

Utilisation of tax losses

547

1,079

Deferred tax

(137

)

(266

)

Total tax (credit)/charge

(137

)

266

7.

DIVIDENDS

2019

2018

£

£

Interim

-

40,000

8.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 January 2019

and 31 December 2019

10,510

DEPRECIATION

At 1 January 2019

5,682

Charge for year

724

At 31 December 2019

6,406

NET BOOK VALUE

At 31 December 2019

4,104

At 31 December 2018

4,828

9.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

and 31 December 2019

465,554

NET BOOK VALUE

At 31 December 2019

465,554

At 31 December 2018

465,554

The above represents the cost of the investment property,

The directors consider that the market value at 31 December 2019 to be is similar to that of the cost.

10.

STOCKS

2019

2018

£

£

Work-in-progress

22,584

22,472

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors.

7,391

863

Prepayments

46,675

62,416

54,066

63,279

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

53

-

Directors' current accounts

5,000

450,000

Accrued expenses

1,172

2,341

6,225

452,341

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Shareholders loan

450,000

-

14.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

780

917

Deferred

tax

£

Balance at 1 January 2019

917

Provided during year

(137

)

Balance at 31 December 2019

780

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

16.

RESERVES

Retained

earnings

£

At 1 January 2019

105,090

Deficit for the year

(3,469

)

At 31 December 2019

101,621

17.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2019

2018

£

£

Loss for the financial year

(3,469

)

(3,996

)

Dividends

-

(40,000

)

Net reduction of shareholders' funds

(3,469

)

(43,996

)

Opening shareholders' funds

105,190

149,186

Closing shareholders' funds

101,721

105,190

18.	GOING CONCERN

The directors have agreed not to withdraw their loans to the company until the company is in a liquid position.