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

REGISTERED NUMBER: 01511132 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

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

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

FIXED ASSETS

Tangible assets

4

77

103

Investments

5

596,003

567,798

596,080

567,901

CURRENT ASSETS

Debtors

6

-

246,183

Cash at bank

16,368

426,011

16,368

672,194

CREDITORS

Amounts falling due within one year

7

8,021

17,024

NET CURRENT ASSETS

8,347

655,170

TOTAL ASSETS LESS CURRENT LIABILITIES

604,427

1,223,071

PROVISIONS FOR LIABILITIES

38,326

23,670

NET ASSETS

566,101

1,199,401

CAPITAL AND RESERVES

Called up share capital

8

204

100

Capital redemption reserve

9

96

-

Fair value reserve

9

163,392

100,917

Retained earnings

9

402,409

1,098,384

SHAREHOLDERS' FUNDS

566,101

1,199,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 16 September 2021 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 is continuing 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 economic conditions and any impact of the virus so far as they can have been reasonably known or anticipated as at the balance sheet date.

The valuation of the company's investment portfolio reflects the market position as at the year end, which generated an increase in overall value.The company's other major non-cash asset is a loan due by Flow Properties Limited. The recoverabilty 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 2021 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2020

and 31 March 2021

12,515

DEPRECIATION

At 1 April 2020

12,412

Charge for year

26

At 31 March 2021

12,438

NET BOOK VALUE

At 31 March 2021

77

At 31 March 2020

103

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2020

567,798

Additions

264,165

Disposals

(313,096

)

Revaluations

77,136

At 31 March 2021

596,003

NET BOOK VALUE

At 31 March 2021

596,003

At 31 March 2020

567,798

Cost or valuation at 31 March 2021 is represented by:

Other

investments

£

Valuation in 2018

295,949

Valuation in 2019

(37,373

)

Valuation in 2020

(133,997

)

Valuation in 2021

77,136

Cost

394,288

596,003

Fixed asset investments were valued on an open market basis on 31 March 2021 by Investec Wealth & Investment .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

-

246,183

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

4,250

13,843

Other creditors

3,771

3,181

8,021

17,024

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

204

100

During the year there was a 2:1 bonus issue of shares, whereby 200 new £1 ordinary shares were issued and allotted. The company subsequently purchased back 96 shares for £400,000 and those shares were duly cancelled.

9.

RESERVES

Capital

Fair

Retained

redemption

value

earnings

reserve

reserve

Totals

£

£

£

£

At 1 April 2020

1,098,384

-

100,917

1,199,301

Deficit for the year

(201,300

)

(201,300

)

Dividends

(30,000

)

(30,000

)

Bonus share issue

(200

)

-

-

(200

)

Purchase of own shares

(402,000

)

96

-

(401,904

)

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

(62,475

)

-

62,475

-

At 31 March 2021

402,409

96

163,392

565,897