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Unaudited Financial Statements for the Year Ended 28 February 2021 |
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Barr Priest Ltd |
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Unaudited Financial Statements for the Year Ended 28 February 2021 |
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for |
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Barr Priest Ltd |
Barr Priest Ltd (Registered number: 06093916) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 6 |
Barr Priest Ltd |
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Company Information |
for the Year Ended 28 February 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Barn |
Brighton Road |
Lower Beeding |
Horsham |
West Sussex |
RH13 6PT |
Barr Priest Ltd (Registered number: 06093916) |
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Balance Sheet |
28 February 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Barr Priest Ltd (Registered number: 06093916) |
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Balance Sheet - continued |
28 February 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Barr Priest Ltd (Registered number: 06093916) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
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1. | STATUTORY INFORMATION |
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Barr Priest Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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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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. |
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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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Barr Priest Ltd (Registered number: 06093916) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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COST |
At 1 March 2020 |
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Additions |
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Disposals | ( |
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At 28 February 2021 |
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DEPRECIATION |
At 1 March 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 28 February 2021 |
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NET BOOK VALUE |
At 28 February 2021 |
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At 29 February 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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8. | GOING CONCERN |
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The accounts are prepared on a going concern basis and following the year end the COVID-19 pandemic has meant disruptions and increased pressures for all businesses, but after consideration of all areas of the business, the Director does not feel that at this time there has been any permanent issues that will result in the company being unable to continue operating on a going concern basis in the foreseeable future. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Barr Priest Ltd |
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The following reproduces the text of the report prepared for the director 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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barr Priest Ltd for the year ended 28 February 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Barr Priest Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barr Priest Ltd and state those matters that we have agreed to state to the director of Barr Priest Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barr Priest Ltd and its director for our work or for this report. |
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It is your duty to ensure that Barr Priest Ltd 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 Barr Priest Ltd. You consider that Barr Priest Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Barr Priest Ltd. 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. |
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The Barn |
Brighton Road |
Lower Beeding |
Horsham |
West Sussex |
RH13 6PT |
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