Barrie Simons and Associates Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05214350 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

Barrie Simons and Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B W J Simons

B Callister

SECRETARY:

B W J Simons

REGISTERED OFFICE:

First Floor Cef Building

Broomhill Way

Torquay

Devon

TQ2 7QN

BUSINESS ADDRESS:

90 South Street

Exeter

Devon

EX1 1EN

REGISTERED NUMBER:

05214350 (England and Wales)

ACCOUNTANTS:

Mark Ward Chartered Certified Accountants

First Floor Cef Building

Broomhill Way

Torquay

Devon

TQ2 7QN

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

5,027

5,585

5,028

5,586

CURRENT ASSETS

Stocks

17,108

15,747

Debtors

6

61,018

55,534

Cash at bank and in hand

958

982

79,084

72,263

CREDITORS

Amounts falling due within one year

7

54,878

39,735

NET CURRENT ASSETS

24,206

32,528

TOTAL ASSETS LESS CURRENT LIABILITIES

29,234

38,114

CREDITORS

Amounts falling due after more than one year

8

(28,000

)

(36,891

)

PROVISIONS FOR LIABILITIES

(1,061

)

(1,061

)

NET ASSETS

173

162

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

73

62

SHAREHOLDERS' FUNDS

173

162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 14 June 2023 and were signed on its behalf by:

B W J Simons - Director

1.	STATUTORY INFORMATION

Barrie Simons and Associates 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Critical accounting judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Land and buildings

-

Over the term of the lease

Plant and machinery etc

-

10% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company holds the following financial instruments:

- Short term trade and other debtors and creditors;

- Bank loans; and

- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

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.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2021

and 30 September 2022

80,000

1

80,001

AMORTISATION

At 1 October 2021

and 30 September 2022

80,000

-

80,000

NET BOOK VALUE

At 30 September 2022

-

1

1

At 30 September 2021

-

1

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2021

and 30 September 2022

1,349

26,332

27,681

DEPRECIATION

At 1 October 2021

1,348

20,748

22,096

Charge for year

-

558

558

At 30 September 2022

1,348

21,306

22,654

NET BOOK VALUE

At 30 September 2022

1

5,026

5,027

At 30 September 2021

1

5,584

5,585

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

33,306

30,345

Other debtors

27,712

25,189

61,018

55,534

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans and overdrafts

29,335

13,046

Trade creditors

4,178

1,029

Taxation and social security

17,176

21,629

Other creditors

4,189

4,031

54,878

39,735

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Bank loans

28,000

36,891

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2022 and 30 September 2021:

30.9.22

30.9.21

£

£

B W J Simons

Balance outstanding at start of year

17,181

15,181

Amounts advanced

1,400

2,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,581

17,181