Barnard Design Consultancy Limited - Limited company accounts 16.3
Barnard Design Consultancy Limited - Limited company accounts 16.3
| REGISTERED NUMBER: |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| BARNARD DESIGN CONSULTANCY LIMITED |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Other Comprehensive Income | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8 |
| Reconciliation of Equity | 13 |
| Reconciliation of Profit | 15 |
| BARNARD DESIGN CONSULTANCY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Bedford Row |
| London |
| WC1R 4TQ |
| BANKERS: |
| 9 Nelson Street |
| Bradford |
| BD1 5AN |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2016. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of design and engineering consultants. |
| REVIEW OF BUSINESS |
| The results for the year and financial position of the company are as shown in the annexed financial statements. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this |
| report. |
| FIXED ASSETS |
| Changes of fixed assets are shown in notes 8 to the financial statements. |
| RELATED PARTY TRANSACTIONS |
| There were no related party transactions during the year. |
| TAXATION STATUS |
| The company is a close company within the provision of the Corporation Taxes Act 2010. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| OPERATING PROFIT/(LOSS) | 4 | ( |
) |
| Gain on sale of investments | 5 |
| 21,323 | 123,796 |
| Income from fixed asset investments |
| Interest receivable and similar income |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Stocks | 9 |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS | 15 |
| 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. |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| The financial statements were approved by the Board of Directors on by: |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2015 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 31 December 2015 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 31 December 2016 |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Barnard Design Consultancy Limited is a |
| 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 |
| The financial statements have been prepared in accordance with applicable Accounting Standards in the United |
| Kingdom. A summary of more important policies which have been applied consistently is set out below: |
| Turnover |
| Turnover represents the amount derived from the sale of services within the company's ordinary activities after |
| deducting value added tax. |
| Tangible fixed assets |
| Furniture and equipment | - |
| Stock & work in progress |
| Stock and Work in Progress represents all costs associated with projects conducted. |
| Stock and Work in Progress is valued at cost and written off when the project comes to fruition. |
| 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. |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments |
| Investments reflected as current assets are stated at cost less provision for impairment. |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2015 - operating loss) is stated after charging: |
| 2016 | 2015 |
| £ | £ |
| Depreciation - owned assets |
| 5. | EXCEPTIONAL ITEMS |
| 2016 | 2015 |
| £ | £ |
| Gain on sale of investments |
| 6. | TAXATION |
| Analysis of the tax (credit)/charge |
| The tax (credit)/charge on the profit for the year was as follows: |
| 2016 | 2015 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax: |
| (Reversal)/ Origination of timing difference | ( |
) |
| Tax on profit | ( |
) |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 6. | TAXATION - continued |
| Reconciliation of total tax (credit)/charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is |
| explained below: |
| 2016 | 2015 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2015 - |
| Effects of: |
| Income not taxable for tax purposes |
| Depreciation in excess of capital allowances |
| Utilisation of tax losses | ( |
) | ( |
) |
| Deferred tax | (185 | ) | 455 |
| Total tax (credit)/charge | (185 | ) | 21,093 |
| 7. | DIVIDENDS |
| 2016 | 2015 |
| £ | £ |
| Interim |
| 8. | TANGIBLE FIXED ASSETS |
| Furniture |
| and |
| equipment |
| £ |
| COST |
| At 1 January 2016 |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 9. | STOCKS |
| 2016 | 2015 |
| £ | £ |
| Work-in-progress |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors. |
| Social security & other taxes | - | 352 |
| VAT |
| Prepayments |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| VAT | 3,681 | - |
| Accrued expenses |
| 12. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | 1,046 | 1,231 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Provided during year | ( |
) |
| Balance at 31 December 2016 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 14. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2016 |
| Profit for the year |
| At 31 December 2016 |
| 15. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
| 2016 | 2015 |
| £ | £ |
| Profit for the financial year |
| Dividends | ( |
) |
| Net addition/(reduction) to shareholders' funds | 21,508 | (497,022 | ) |
| Opening shareholders' funds | 152,240 | 649,262 |
| Closing shareholders' funds | 173,748 | 152,240 |
| 16. | FIRST YEAR ADOPTION |
| The Company has adopted FRS 102 1A for the year ended 31 December 2016 and there are no transitional |
| adjustment arising due the FRS 102 1A adoption. |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| RECONCILIATION OF EQUITY |
| 1 JANUARY 2015 |
| (DATE OF TRANSITION TO FRS 102) |
| Effect of |
| UK | transition |
| GAAP | to FRS 102 | FRS 102 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 | 3,879 | 3,879 |
| CURRENT ASSETS |
| Stocks | 10 | 24,520 | 24,520 |
| Debtors | 11 | 59,188 | 59,188 |
| Investments | 12 | 117,996 | 117,996 |
| Cash at bank | 449,876 | 449,876 |
| 651,580 | 651,580 |
| CREDITORS |
| Amounts falling due within one year | 13 | (5,421 | ) | (5,421 | ) |
| NET CURRENT ASSETS | 646,159 | 646,159 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
650,038 |
650,038 |
| PROVISIONS FOR LIABILITIES | 15 | (776 | ) | (776 | ) |
| NET ASSETS | 649,262 | 649,262 |
| CAPITAL AND RESERVES |
| Called up share capital | 16 | 100 | 100 |
| Retained earnings | 17 | 649,162 | 649,162 |
| SHAREHOLDERS' FUNDS | 649,262 | 649,262 |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| RECONCILIATION OF EQUITY - continued |
| 31 DECEMBER 2015 |
| Effect of |
| UK | transition |
| GAAP | to FRS 102 | FRS 102 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 | 6,155 | 6,155 |
| CURRENT ASSETS |
| Stocks | 10 | 31,727 | 31,727 |
| Debtors | 11 | 60,301 | 60,301 |
| Cash at bank | 75,923 | 75,923 |
| 167,951 | 167,951 |
| CREDITORS |
| Amounts falling due within one year | 13 | (20,635 | ) | (20,635 | ) |
| NET CURRENT ASSETS | 147,316 | 147,316 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
153,471 |
153,471 |
| PROVISIONS FOR LIABILITIES | 15 | (1,231 | ) | (1,231 | ) |
| NET ASSETS | 152,240 | 152,240 |
| CAPITAL AND RESERVES |
| Called up share capital | 16 | 100 | 100 |
| Retained earnings | 17 | 152,140 | 152,140 |
| SHAREHOLDERS' FUNDS | 152,240 | 152,240 |
| BARNARD DESIGN CONSULTANCY LIMITED (REGISTERED NUMBER: 01459398) |
| RECONCILIATION OF PROFIT |
| FOR THE YEAR ENDED 31 DECEMBER 2015 |
| Effect of |
| UK | transition |
| GAAP | to FRS 102 | FRS 102 |
| £ | £ | £ |
| TURNOVER | 1,803 | 1,803 |
| Cost of sales | (669 | ) | (669 | ) |
| GROSS PROFIT | 1,134 | 1,134 |
| Administrative expenses | (11,507 | ) | (11,507 | ) |
| OPERATING LOSS | (10,373 | ) | (10,373 | ) |
| Gain on sale of investments | 134,169 | 134,169 |
| Income from fixed asset investments | 249 | 249 |
| Interest receivable and similar income | 26 | 26 |
| and |
| PROFIT BEFORE TAXATION | 124,071 | 124,071 |
| Tax on profit | (21,093 | ) | (21,093 | ) |
| PROFIT FOR THE FINANCIAL YEAR | 102,978 | 102,978 |