Barkers of Faversham Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04620456 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

BARKERS OF FAVERSHAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S H Barker

SECRETARY:

Mrs N K Barker

REGISTERED OFFICE:

5 Preston Street

Faversham

Kent

ME13 8NS

REGISTERED NUMBER:

04620456 (England and Wales)

ACCOUNTANTS:

Michael Martin Partnership

Chartered Certified Accountants

18/20 Canterbury Road

Whitstable

Kent

CT5 4EY

BANKERS:

HSBC

9 Rose Lane

Canterbury

Kent

CT1 2JP

FIXED ASSETS

Tangible assets

4

703

936

CURRENT ASSETS

Stocks

68,419

70,336

Debtors

5

9,509

2,125

Cash in hand

750

575

78,678

73,036

CREDITORS

Amounts falling due within one year

6

74,839

69,447

NET CURRENT ASSETS

3,839

3,589

TOTAL ASSETS LESS CURRENT LIABILITIES

4,542

4,525

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,442

4,425

SHAREHOLDERS' FUNDS

4,542

4,525

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 director acknowledges his 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 26 September 2018 and were signed by:

Mr S H Barker - Director

1.	STATUTORY INFORMATION

Barkers of Faversham 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

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.

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 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2017

and 31 December 2017

14,223

25,851

1,484

41,558

DEPRECIATION

At 1 January 2017

14,222

24,957

1,443

40,622

Charge for year

-

223

10

233

At 31 December 2017

14,222

25,180

1,453

40,855

NET BOOK VALUE

At 31 December 2017

1

671

31

703

At 31 December 2016

1

894

41

936

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

2,125

2,125

Other debtors

7,384

-

9,509

2,125

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

13,649

14,279

Trade creditors

23,158

19,076

Taxation

1,503

2,460

Social security and other taxes

5,362

9,300

Sundry creditors

4,338

4,092

Directors' current accounts

26,829

20,240

74,839

69,447