COMPANY REGISTRATION NUMBER:
13548168
Barwick Plant Holdings Limited
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Filleted Unaudited Financial Statements
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Barwick Plant Holdings Limited
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Period from 4 August 2021 to 30 June 2022
Statement of financial position
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1
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Notes to the financial statements
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3
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Barwick Plant Holdings Limited
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Statement of Financial Position
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30 June 2022
Fixed assets
Tangible assets
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5
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478,718
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Investments
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6
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20,400
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---------
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499,118
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Current assets
Debtors
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7
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1,760,700
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Cash at bank and in hand
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54,673
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------------
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1,815,373
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Creditors: amounts falling due within one year
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8
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277,697
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Net current assets
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1,537,676
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Total assets less current liabilities
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2,036,794
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Provisions
Taxation including deferred tax
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3,357
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Net assets
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2,033,437
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Capital and reserves
Called up share capital
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20,401
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Revaluation reserve
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272,982
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Profit and loss account
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1,740,054
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Shareholders funds
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2,033,437
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Barwick Plant Holdings Limited
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Statement of Financial Position (continued)
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30 June 2022
These financial statements were approved by the
board of directors
and authorised for issue on
23 February 2023
, and are signed on behalf of the board by:
Company registration number:
13548168
Barwick Plant Holdings Limited
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Notes to the Financial Statements
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Period from 4 August 2021 to 30 June 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wellhead Farm, Wingham Well, Canterbury, CT3 1NS, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the hire of plant and management services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery
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25% reducing balance
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Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4.
Staff numbers
The average number of persons employed by the company during the period, including the director, amounted to 1.
5.
Tangible assets
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Plant and machinery
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£
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Cost or valuation
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At 4 August 2021
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–
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Additions
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237,650
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Revaluations
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272,982
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At 30 June 2022
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510,632
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Depreciation
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At 4 August 2021
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–
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Charge for the period
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31,914
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At 30 June 2022
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31,914
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Carrying amount
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At 30 June 2022
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478,718
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6.
Investments
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Shares in group undertakings
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£
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Cost
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At 4 August 2021
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–
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Additions
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20,400
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At 30 June 2022
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20,400
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Impairment
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At 4 August 2021 and 30 June 2022
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–
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Carrying amount
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At 30 June 2022
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20,400
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7.
Debtors
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30 Jun 22
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£
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Amounts owed by group undertakings and undertakings in which the company has a participating interest
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1,760,700
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8.
Creditors:
amounts falling due within one year
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30 Jun 22
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£
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Corporation tax
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12,484
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Social security and other taxes
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22,064
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Other creditors
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243,149
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277,697
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9.
Related party transactions
During the period the Director transferred plant and machinery to the Company at their tax written down value of nil. At the period end the Company owed the Director £237,649.
At the period end the Company was owed £1,760,700 by a company under common control.