Craig Barnes Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05512950 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Craig Barnes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A Barnes

A B Carter

SECRETARY:

Mrs C P Barnes

REGISTERED OFFICE:

Breeze Hill

Gregson Lane

Hoghton

Preston

Lancashire

PR5 0LE

REGISTERED NUMBER:

05512950 (England and Wales)

ACCOUNTANTS:

Egan Roberts Limited

Chartered Accountants

Suite 46

Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

FIXED ASSETS

Tangible assets

4

11,827

10,261

CURRENT ASSETS

Stocks

702

1,782

Debtors

5

358,505

314,053

Cash at bank

313,440

53,470

672,647

369,305

CREDITORS

Amounts falling due within one year

6

121,052

76,034

NET CURRENT ASSETS

551,595

293,271

TOTAL ASSETS LESS CURRENT LIABILITIES

563,422

303,532

PROVISIONS FOR LIABILITIES

2,270

1,935

NET ASSETS

561,152

301,597

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

560,952

301,397

561,152

301,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 27 April 2018 and were signed on its behalf by:

A B Carter - Director

1.	STATUTORY INFORMATION

Craig Barnes 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 4 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

3,894

822

31,681

6,919

43,316

Additions

4,689

-

-

610

5,299

At 31 December 2017

8,583

822

31,681

7,529

48,615

DEPRECIATION

At 1 January 2017

3,134

758

24,328

4,835

33,055

Charge for year

779

25

1,839

1,090

3,733

At 31 December 2017

3,913

783

26,167

5,925

36,788

NET BOOK VALUE

At 31 December 2017

4,670

39

5,514

1,604

11,827

At 31 December 2016

760

64

7,353

2,084

10,261

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2017

21,936

Reclassification/transfer

(21,936

)

At 31 December 2017

-

DEPRECIATION

At 1 January 2017

14,995

Reclassification/transfer

(14,995

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

6,941

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

325,960

290,238

Intercompany loan account

100

100

VAT

32,445

23,715

358,505

314,053

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

8,298

Tax

109,561

59,149

Social security and other taxes

311

471

Directors' current accounts

8,645

5,806

Accrued expenses

2,535

2,310

121,052

76,034