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 2020

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 2020.

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 2020 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

27 September 2021

TURNOVER

3

8,528

17,924

Cost of sales

(23,117

)

(15,411

)

GROSS (LOSS)/PROFIT

(14,589

)

2,513

Administrative expenses

(6,936

)

(6,119

)

OPERATING LOSS

5

(21,525

)

(3,606

)

Gain/loss on revaluation of investment property

7,651

-

LOSS BEFORE TAXATION

(13,874

)

(3,606

)

Tax on loss

6

(419

)

137

LOSS FOR THE FINANCIAL YEAR

(14,293

)

(3,469

)

LOSS FOR THE YEAR

(14,293

)

(3,469

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(14,293

)

(3,469

)

FIXED ASSETS

Tangible assets

7

6,313

4,104

Investment property

8

475,000

465,554

481,313

469,658

CURRENT ASSETS

Stocks

9

22,584

22,584

Debtors

10

23,227

54,066

Cash at bank

19,977

12,418

65,788

89,068

CREDITORS

Amounts falling due within one year

11

(6,679

)

(6,225

)

NET CURRENT ASSETS

59,109

82,843

TOTAL ASSETS LESS CURRENT LIABILITIES

540,422

552,501

CREDITORS

Amounts falling due after more than one year

12

(450,000

)

(450,000

)

PROVISIONS FOR LIABILITIES

13

(2,994

)

(780

)

NET ASSETS

87,428

101,721

CAPITAL AND RESERVES

Called up share capital

14

100

100

Fair value reserve

15

7,651

-

Retained earnings

15

79,677

101,621

SHAREHOLDERS' FUNDS

16

87,428

101,721

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 27 September 2021 and were signed on its behalf by:

Mrs G A Haskey - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2019

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

Changes in equity

Total comprehensive income

-

(21,944

)

7,651

(14,293

)

Balance at 31 December 2020

100

79,677

7,651

87,428

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 as modified by the revaluation of certain assets.

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 amounts derived from Royalty income from various projects including book sales and income derived from the use of land.

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 1 (2019 - NIL ) .

2020

2019

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

2020

2019

£

£

Depreciation - owned assets

1,114

724

6.

TAXATION

Analysis of the tax charge/(credit)

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

2020

2019

£

£

Deferred tax:

(Reversal)/ Origination of timing difference

419

(137

)

Tax on loss

419

(137

)

Reconciliation of total tax charge/(credit) 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:

2020

2019

£

£

Loss before tax

(13,874

)

(3,606

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2019 - 19%)

(2,636

)

(685

)

Effects of:

Depreciation in excess of capital allowances

420

138

Utilisation of tax losses

762

547

Deferred tax

419

(137

)

Revaluation of investment property

1,454

-

Total tax charge/(credit)

419

(137

)

7.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 January 2020

10,510

Additions

3,323

At 31 December 2020

13,833

DEPRECIATION

At 1 January 2020

6,406

Charge for year

1,114

At 31 December 2020

7,520

NET BOOK VALUE

At 31 December 2020

6,313

At 31 December 2019

4,104

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

465,554

Revaluations

9,446

At 31 December 2020

475,000

NET BOOK VALUE

At 31 December 2020

475,000

At 31 December 2019

465,554

The directors consider that the market value at 31 December 2020 to be £475,000.

Fair value at 31 December 2020 is represented by:

£

Valuation in 2020

9,446

Cost

465,554

475,000

9.

STOCKS

2020

2019

£

£

Work-in-progress

22,584

22,584

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors.

-

7,391

Prepayments

23,227

46,675

23,227

54,066

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

274

53

Directors' current accounts

5,000

5,000

Accrued expenses

1,405

1,172

6,679

6,225

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Shareholders loan

450,000

450,000

13.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

Accelerated capital allowances

1,199

780

Other deferred tax

1,795

-

2,994

780

Deferred

tax

£

Balance at 1 January 2020

780

Provided during year

2,214

Balance at 31 December 2020

2,994

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

15.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2020

101,621

-

101,621

Deficit for the year

(14,293

)

(14,293

)

Revaluation reserve

(7,651

)

7,651

-

At 31 December 2020

79,677

7,651

87,328

16.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2020

2019

£

£

Loss for the financial year

(14,293

)

(3,469

)

Net reduction of shareholders' funds

(14,293

)

(3,469

)

Opening shareholders' funds

101,721

105,190

Closing shareholders' funds

87,428

101,721

17.	GOING CONCERN

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