Barnsley Precious Metals Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07249328 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2020

for

Barnsley Precious Metals Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Newton

Mrs D F Newton

REGISTERED OFFICE:

21 North Moor Road

Flamborough

Bridlington

YO15 1BQ

REGISTERED NUMBER:

07249328 (England and Wales)

ACCOUNTANTS:

Royston Parkin Limited

2 President Buildings

Savile Street East

Sheffield

South Yorkshire

S4 7UQ

FIXED ASSETS

Property, plant and equipment

4

21,755

27,857

CURRENT ASSETS

Debtors

5

2,680

1,281

Cash at bank

9,577

52,881

12,257

54,162

CREDITORS

Amounts falling due within one year

6

44,374

76,362

NET CURRENT LIABILITIES

(32,117

)

(22,200

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,362

)

5,657

PROVISIONS FOR LIABILITIES

4,134

5,293

NET (LIABILITIES)/ASSETS

(14,496

)

364

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(14,506

)

354

(14,496

)

364

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2021 and were signed on its behalf by:

Mr M Newton - Director

1.	STATUTORY INFORMATION

Barnsley Precious Metals Ltd 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 1 ).

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 June 2019

and 31 May 2020

69,222

DEPRECIATION

At 1 June 2019

41,365

Charge for year

6,102

At 31 May 2020

47,467

NET BOOK VALUE

At 31 May 2020

21,755

At 31 May 2019

27,857

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,680

1,281

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,175

1,215

Taxation and social security

-

38,393

Other creditors

43,199

36,754

44,374

76,362