Barrett Europe Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02974250 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

BARRETT EUROPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Certified Accountants' Report

7

DIRECTOR:

Mrs H J Barrett

SECRETARY:

P A Bradshaw

REGISTERED OFFICE:

Market House

21 Lenten Street

Alton

Hampshire

GU34 1HG

REGISTERED NUMBER:

02974250 (England and Wales)

ACCOUNTANTS:

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

BANKERS:

Lloyds Bank

FIXED ASSETS

Tangible assets

4

18,430

23,608

CURRENT ASSETS

Debtors

5

81,668

103,963

Cash at bank

96,201

80,005

177,869

183,968

CREDITORS

Amounts falling due within one year

6

147,392

160,708

NET CURRENT ASSETS

30,477

23,260

TOTAL ASSETS LESS CURRENT LIABILITIES

48,907

46,868

PROVISIONS FOR LIABILITIES

3,203

3,905

NET ASSETS

45,704

42,963

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

45,702

42,961

SHAREHOLDERS' FUNDS

45,704

42,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 August 2017 and were signed by:

Mrs H J Barrett - Director

1.	STATUTORY INFORMATION

Barrett Europe Limited is a private company, limited by shares , 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment

-

25% on reducing balance

Furniture and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 7 .

4.	TANGIBLE FIXED ASSETS

Furniture

Plant and

and

Computer

equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2016

21,618

31,624

65,471

118,713

Additions

-

-

1,038

1,038

At 30 June 2017

21,618

31,624

66,509

119,751

DEPRECIATION

At 1 July 2016

16,549

26,536

52,020

95,105

Charge for year

1,289

1,285

3,642

6,216

At 30 June 2017

17,838

27,821

55,662

101,321

NET BOOK VALUE

At 30 June 2017

3,780

3,803

10,847

18,430

At 30 June 2016

5,069

5,088

13,451

23,608

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

-

37,158

Other debtors

81,668

66,805

81,668

103,963

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

14,062

33,838

Amounts owed to group undertakings

89,499

-

Taxation and social security

2,020

10,006

Other creditors

41,811

116,864

147,392

160,708

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 July 2016

42,961

Profit for the year

2,741

At 30 June 2017

45,702

9.	RELATED PARTY DISCLOSURES

The immediate and ultimate parent undertaking and controlling party is Barrett Communications Pty Ltd, which

prepares group financial statements. Copies can be obtained from 47 Discovery Lake, WA 6163, Australia.

During the year the company derived income in the form of marketing fees from Barrett Communications Pty

Ltd, the parent company, totalling £886,000 (2016: £1,031,500). At the balance sheet date the amount owed to

Barrett Communications Pty Ltd was £89,499 (2016: 37,158 owed by Barrett Communications Pty Ltd). The

company is renting offices from Tom & Joy Investments (UK) Limited at a market rent and service charge of

£56,130 per annum (2016: £56,165).

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Barrett Europe Limited for the year ended 30 June 2017 which comprise the Income Statement,

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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Barrett Europe Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barrett Europe Limited and state those matters that we have agreed to state to the director of Barrett Europe Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Barrett Europe 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 Barrett Europe Limited. You consider that Barrett Europe 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 Barrett Europe 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.

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

18 August 2017