Barnes_Mayer_Ltd_31_Mar_2021_companies_house_set_of_accounts.html
Barnes_Mayer_Ltd_31_Mar_2021_companies_house_set_of_accounts.html
Company registration number:
Report to the board of directors on the preparation of the unaudited statutory financial statements of Barnes Mayer Limited
Year ended 31 March 2021
As described on the statement of financial position, the Board of Directors of Barnes Mayer Limited are responsible for the preparation of the financial statements for the year ended 31 March 2021 , which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
OneSt. Peters RoadMaidenheadSL6 7QUUnited Kingdom
Date:
30 December 2021
Statement of Financial Position
2021 | 2020 | ||||
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Note | £ | £ | |||
Fixed assets | |||||
Intangible assets | 5 |
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Current assets | |||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities | 79,374 | 52,808 | |||
Creditors: amounts falling due after more than one year | 8 |
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Net assets |
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Capital and reserves | |||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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For the year ending 31 March 2021 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These 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.
These financial statements were approved by the board of directors and authorised for issue on 30 December 2021 , and are signed on behalf of the board by:
Director | Director |
Company registration number:
04672956
Notes to the Financial Statements
Year ended 31 March 2021
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is One , St. Peters Road , Maidenhead , SL6 7QU , England.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4 Average number of employees
The average number of persons employed by the company during the year was 3 (2020: 1 ).
5 Intangible assets
Goodwill | ||
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Cost | ||
At |
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Additions |
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Amortisation | ||
At |
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Charge |
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Carrying amount | ||
At |
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At 31 March 2020 | - |
6 Debtors
2021 | 2020 | |||
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£ | £ | |||
Trade debtors |
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Other debtors |
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7 Creditors: amounts falling due within one year
2021 | 2020 | |||
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£ | £ | |||
Bank loans and overdrafts |
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- | ||
Trade creditors |
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- | ||
Taxation and social security |
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Other creditors |
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8 Creditors: amounts falling due after more than one year
2021 | 2020 | |||
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£ | £ | |||
Bank loans and overdrafts |
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