Barry Norman - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01511132 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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

49

65

Investments

5

219,965

314,047

220,014

314,112

CURRENT ASSETS

Cash at bank

12,315

8,711

CREDITORS

Amounts falling due within one year

6

12,350

10,473

NET CURRENT LIABILITIES

(35

)

(1,762

)

TOTAL ASSETS LESS CURRENT LIABILITIES

219,979

312,350

PROVISIONS FOR LIABILITIES

13,231

26,035

NET ASSETS

206,748

286,315

CAPITAL AND RESERVES

Called up share capital

7

198

204

Capital redemption reserve

8

102

96

Fair value reserve

8

56,404

110,993

Retained earnings

8

150,044

175,022

SHAREHOLDERS' FUNDS

206,748

286,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 11 August 2023 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.

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 economic conditions as at the balance sheet date.

The valuation of the company's investment portfolio reflects the market position as at the year end,

The financial statements for the period ended 31st March 2023 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2022

and 31 March 2023

12,515

DEPRECIATION

At 1 April 2022

12,450

Charge for year

16

At 31 March 2023

12,466

NET BOOK VALUE

At 31 March 2023

49

At 31 March 2022

65

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2022

314,047

Additions

16,588

Disposals

(43,277

)

Revaluations

(67,393

)

At 31 March 2023

219,965

NET BOOK VALUE

At 31 March 2023

219,965

At 31 March 2022

314,047

Cost or valuation at 31 March 2023 is represented by:

Other

investments

£

Valuation in 2023

69,635

Cost

150,330

219,965

Fixed asset investments were valued on an open market basis on 31 March 2023 by Investec Wealth & Investment .

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

12,350

10,473

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

198

204

8.

RESERVES

Capital

Fair

Retained

redemption

value

earnings

reserve

reserve

Totals

£

£

£

£

At 1 April 2022

175,022

96

110,993

286,111

Deficit for the year

(79,567

)

(79,567

)

Purchase of own shares

-

6

-

6

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

54,589

-

(54,589

)

-

At 31 March 2023

150,044

102

56,404

206,550