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Financial Statements |
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for the Year Ended 31st March 2022 |
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for |
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THE BARR COMMON TRADING CO LIMITED |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31st March 2022 |
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for |
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THE BARR COMMON TRADING CO LIMITED |
THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Contents of the Financial Statements |
for the year ended 31st March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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THE BARR COMMON TRADING CO LIMITED |
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Company Information |
for the year ended 31st March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Statutory Auditor |
Baker (Midlands) Limited) |
3rd Floor |
International House |
Hatherton Street |
Walsall |
WS4 2LA |
THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Balance Sheet |
31st March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Notes to the Financial Statements |
for the year ended 31st March 2022 |
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1. | STATUTORY INFORMATION |
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The Barr Common Trading Co Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about The Barr Common Trading Co Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates. |
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Turnover |
Turnover represents the invoiced amount of goods sold,services provided and rental income exclusive of Value Added Tax to United Kingdom customers. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are initially recognised at fair value which is normally the transaction price. |
At each balance sheet date the investments are reviewed for any indication of impairment. If such indication exists then where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account. |
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Investment property |
Investment property is recognized at cost or fair value if materially different where the value can be measured reliably without undue cost or effort with changes in fair value recognised in profit or loss. |
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THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Cash and cash equivalents |
Cash comprise cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2022 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1st April 2021 |
and 31st March 2022 |
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NET BOOK VALUE |
At 31st March 2022 |
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At 31st March 2021 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2021 |
and 31st March 2022 |
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NET BOOK VALUE |
At 31st March 2022 |
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At 31st March 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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THE BARR COMMON TRADING CO LIMITED (REGISTERED NUMBER: 00661185) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2022 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 16,256 | 16,256 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | GUARANTEE |
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The company has provided a guarantee relating to underwriting liabilities of a subsidiary undertaking, Nameco(No964)Limited, up to £600,000. The guarantee is supported by the company's bankers. |