Barn Glass Group Limited - Period Ending 2016-03-31

Registration number: 00797439

Barn Glass Group Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

James Worley & Sons
Chartered Accountants
9 Bridle Close
Surbiton Road
Kingston Upon Thames
Surrey
KT1 2JW

Barn Glass Group Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Barn Glass Group Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Barn Glass Group Limited for the year ended 31 March 2016 set out on pages 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Barn Glass Group Limited, as a body, in accordance with the terms of our engagement letterdated 15 April 2008. Our work has been undertaken solely to prepare for your approval the accounts of Barn Glass Group Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barn Glass Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Barn Glass Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Barn Glass Group Limited. You consider that Barn Glass Group 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 accounts of Barn Glass Group 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 accounts.

......................................

James Worley & Sons
Chartered Accountants
9 Bridle Close
Surbiton Road
Kingston Upon Thames
Surrey
KT1 2JW

15 December 2016

Page 1

Barn Glass Group Limited
(Registration number: 00797439)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					962,980			954,000
Investments					200			200
					963,180			954,200
Current assets
Stocks					72,041			58,780
Debtors					124,523			225,708
Cash at bank and in hand					261,296			244,202
					457,860			528,690
Creditors: Amounts falling due within one year					(89,514)			(91,072)
Net current assets					368,346			437,618
Net assets					1,331,526			1,391,818
Capital and reserves
Called up share capital		3			5,000			5,000
Profit and loss account					1,326,526			1,386,818
Shareholders' funds					1,331,526			1,391,818

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 December 2016 and signed on its behalf by:

.........................................
Mr M T Delaiche
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Barn Glass Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover presents the amounts receivable for goods and services supplied in the ordinary course of business, excluding value added tax.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.

Asset class	Depreciation method and rate
Plant and machinery	10% pa straight line
Fixtures and fittings	10% pa straight line
Motor vehicles	20%pa reducing balance
Office equipment	33% pa straight line
Short leasehold premises	Over remiander of the lease

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of the freehold investment property. This treatment as regards the company's investment property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, this property is not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock and work in progress

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 3

Barn Glass Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timimg differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the duration of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		1,231,169			200			1,231,369
Additions		24,067			-			24,067
Disposals		(11,819)			-			(11,819)
At 31 March 2016		1,243,417			200			1,243,617
Depreciation
At 1 April 2015		277,169			-			277,169
Charge for the year		15,087			-			15,087
Eliminated on disposals		(11,819)			-			(11,819)
At 31 March 2016		280,437			-			280,437
Net book value
At 31 March 2016		962,980			200			963,180
At 31 March 2015		954,000			200			954,200

Page 4

Barn Glass Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Barn Glass Works Limited		Ordinary £1	100%	the manufacture, installation and retail of glazing products
Barn Glass Limited		Ordinary £1	100%	dormant

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		5,000			5,000			5,000			5,000

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr M T Delaiche
Loan	36,378	-	29,123	-
Mr S P M Delaiche
Loan	18,202	-	18,197	-

Page 5