Barclay Bros. Limited - Abbreviated accounts 16.1
Barclay Bros. Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| BARCLAY BROS. LIMITED |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| BARCLAY BROS. LIMITED (REGISTERED NUMBER: SC129773) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| BARCLAY BROS. LIMITED |
| Company Information |
| for the Year Ended 31 March 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| SOLICITORS: |
| BARCLAY BROS. LIMITED (REGISTERED NUMBER: SC129773) |
| Abbreviated Balance Sheet |
| 31 March 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| BARCLAY BROS. LIMITED (REGISTERED NUMBER: SC129773) |
| Abbreviated Balance Sheet - continued |
| 31 March 2016 |
| The financial statements were approved by the Board of Directors on |
| BARCLAY BROS. LIMITED (REGISTERED NUMBER: SC129773) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 March 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents sale of goods and services provided net of Value Added Tax and trade discounts. Turnover |
| is recognised when the goods and services are physically provided to the customer. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business, is not being amortised as the |
| Directors consider the life of this asset is so long, and residual value is so high, that amortisation is insignificant. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net |
| realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow |
| moving, obsolete or damaged stock where the net realisable value is less than cost. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
| respect of all timing differences that have originated but not reversed at the Balance Sheet date. However, |
| deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that |
| there will be suitable taxable profits from which the future reversal of the underlying timing differences can be |
| deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates that are expected to |
| apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially |
| enacted at the Balance Sheet date. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
| commitment to sell the assets. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| BARCLAY BROS. LIMITED (REGISTERED NUMBER: SC129773) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 March 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | ULTIMATE CONTROLLING PARTY |
| No one individual has ultimate control of the company. |
| 6. | BOND AND FLOATING CHARGE |
| The Royal Bank of Scotland holds a Bond and Floating Charge over the assets of the company together with a |
| Standard Security. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Barclay Bros. Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Barclay Bros. Limited for the year ended 31 March 2016 which comprise the Profit and Loss |
| Account, the Balance Sheet, and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
| This report is made solely to the Board of Directors of Barclay Bros. Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barclay Bros. Limited and state those matters that we have agreed to state to the Board of Directors of Barclay Bros. Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Barclay Bros. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barclay Bros. Limited. You consider that Barclay Bros. Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Barclay Bros. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 14 June 2016 |