Barmar Servicing Limited Filleted accounts for Companies House (small and micro)

BARMAR SERVICING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09576990

Barmar Servicing Limited

Filleted Unaudited Financial Statements

31 March 2023

Barmar Servicing Limited

Financial Statements

Year ended 31 March 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Barmar Servicing Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Current assets

Debtors	5	595,994	293,209
Cash at bank and in hand		17,066	3,985
		---------	---------
		613,060	297,194

Creditors: amounts falling due within one year	6	346,778		–
		---------		---------
Net current assets			266,282	297,194
			---------	---------
Total assets less current liabilities			266,282	297,194
			---------	---------
Net assets			266,282	297,194
			---------	---------

Capital and reserves

Called up share capital	200	200
Share premium account	3,781	3,781
Profit and loss account	262,301	293,213
	---------	---------
Shareholders funds	266,282	297,194
	---------	---------

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 31 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 22 December 2023 , and are signed on behalf of the board by:

Mr M Bithal

Director

Company registration number: 09576990

Barmar Servicing Limited

Notes to the Financial Statements

Year ended 31 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 Scale Space, 58 Wood Lane, London, W12 7RZ, United Kingdom.

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

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.

Going concern

The financial statements have been prepared on a going concern basis as the shareholders will support the company to ensure that its debts are paid as they fall due for at least 12 months from the date of signing the accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).

5. Debtors

	2023	2022
	£	£
Other debtors	595,994	293,209
	---------	---------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	7,182	–
Other creditors	339,596	–
	---------	----
	346,778	–
	---------	----

7. Related party transactions

At the year end the company had loan debtors and creditors of £nil (2022: £nil) and £80,000 (2022: £nil) respectively with companies related by virtue of common control and Directorship.