Barbican Research Associates Limited Filleted accounts for Companies House (small and micro)

Barbican Research Associates Limited Filleted accounts for Companies House (small and micro)


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COMPANY REGISTRATION NUMBER: 03929951
BARBICAN RESEARCH ASSOCIATES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
BARBICAN RESEARCH ASSOCIATES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2023
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
BARBICAN RESEARCH ASSOCIATES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
Current assets
Debtors
5
206
Cash at bank and in hand
5,079
16,478
-------
--------
5,079
16,684
Creditors: amounts falling due within one year
6
1,131
1,558
-------
--------
Net current assets
3,948
15,126
-------
--------
Total assets less current liabilities
3,948
15,126
-------
--------
Net assets
3,948
15,126
-------
--------
Capital and reserves
Called up share capital
30
30
Profit and loss account
3,918
15,096
-------
--------
Shareholders funds
3,948
15,126
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2023 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 were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Dr. P.S.W. Guest
Director
Company registration number: 03929951
BARBICAN RESEARCH ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Lady Bay Road, West Bridgford, Nottingham, Nottinghamshire, NG2 5BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(i) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(ii) Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(iii) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
(iv) Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
(v) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Debtors
2023
2022
£
£
Other debtors
206
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
( 25)
Social security and other taxes
422
Other creditors
1,156
1,136
-------
-------
1,131
1,558
-------
-------
7. Directors' advances, credits and guarantees
There were no transactions during the year which need to be reported upon.
8. Related party transactions
The company was under the joint control of the directors throughout the current and previous year. During the year, transactions took place between the company and the directors acting through their personal businesses as specialist consultants as follows:
2023 2022
£ £
Dr P.S.W. Guest 8,000
Ms Q.A. Mould 405
All transactions were undertaken on normal commercial terms.