ACCOUNTS - Final Accounts preparation

P. A. BARHAM LIMITED - Company Information

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Registered number: 04775700

P.A. BARHAM LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020

P.A. BARHAM LIMITED

REGISTERED NUMBER: 04775700

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		232		347
			232		347
Current assets
Stocks		1,425		1,600
Cash at bank and in hand	5	5,191		340
		6,616		1,940
Creditors: amounts falling due within one year	6	(40,552)		(32,351)
Net current liabilities			(33,936)		(30,411)
Total assets less current liabilities			(33,704)		(30,064)
Creditors: amounts falling due after more than one year	7		(10,000)		-

Net liabilities			(43,704)		(30,064)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(43,705)	(30,065)
	(43,704)	(30,064)

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P.A. BARHAM LIMITED

REGISTERED NUMBER: 04775700

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

P A Barham

Director

Date: 14 December 2021

The notes on pages 3 to 6 form part of these financial statements.

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P.A. BARHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

P. A. Barham Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The company registration number is 04775700.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

At the balance sheet date the liabilities exceeded the assets by £43,704 (2019: £30,064). The directors consider it appropriate to prepare the financial statements on a going concern basis as the company retains the financial support of the directors in meeting its day to day working capital requirements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

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P.A. BARHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery

33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

P.A. BARHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

4.	Tangible fixed assets

		Plant & machinery
		£
	Cost or valuation
	At 1 January 2020	16,722
	At 31 December 2020	16,722
	Depreciation
	At 1 January 2020	16,375
	Charge for the year on owned assets	115
	At 31 December 2020	16,490
	Net book value
	At 31 December 2020	232
	At 31 December 2019	347

5.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	5,191	340
	5,191	340

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P.A. BARHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Amounts owed to associates	23,232	23,232
Other taxation and social security	37	-
Other creditors	14,523	7,319
Accruals and deferred income	2,760	1,800
	40,552	32,351

7.	Creditors: Amounts falling due after more than one year
		2020	2019
		£	£

Bank loans	10,000	-
	10,000	-

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