REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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BARKOS LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2021 |
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for |
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BARKOS LIMITED |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
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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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BARKOS LIMITED |
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Company Information |
for the Year Ended 28 February 2021 |
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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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Accountants: |
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First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
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Balance Sheet |
28 February 2021 |
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28/2/21 | 28/2/20 |
Notes | € | € |
FIXED ASSETS |
Investment property | 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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
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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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BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
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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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Barkos 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. |
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The presentation currency of the financial statements is the Euro (€). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Investment property |
Investment properties, which are properties held to earn rentals and /of for capital appreciation, are initially measured at cost and subsequently at fair value. Gains or losses on revaluation are recognised in profit or loss and subsequently transferred to the property revaluation reserve. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
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Cash and cash equivalents |
Cash and cash equivalents comprise of cash at bank. |
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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. |
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Going concern |
The financial statements have been prepared on a going concern basis, notwithstanding net current liabilities of €1,622,537 (2020 €1,567,949). The director has received assurances from the shareholder that it will not recall amounts owing for a period of at least 12 months from the date of these accounts. As a result, the director considers that the use of the going concern basis of accounting is appropriate. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2020 - NIL). |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
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4. | Investment property |
Total |
€ |
Fair value |
At 29 February 2020 |
and 28 February 2021 |
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Net book value |
At 28 February 2021 |
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At 28 February 2020 |
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The investment property was valued at 28 February 2021 by the director on Sales Comparison Method, using the trend and market value of the Italian real estate market in Westhern Italy as assessed by official statistical institution. In director's opinion, the value of the property at 28 February 2021 is approximately the same as the value at 28 February 2020. |
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5. | Debtors: amounts falling due within one year |
28/2/21 | 28/2/20 |
€ | € |
Prepayments |
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6. | Creditors: amounts falling due within one year |
28/2/21 | 28/2/20 |
€ | € |
Amounts owed to beneficial |
owner |
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Trade creditors |
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Accrued expenses |
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The amounts owed to the beneficial owner are unsecured, interest free and repayable on demand. |