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Financial Statements for the Year Ended 30 June 2021 |
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BARTEC TECHNOLOGIES LIMITED |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 June 2021 |
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for |
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BARTEC TECHNOLOGIES LIMITED |
BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Balance Sheet |
30 June 2021 |
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30.6.21 | 30.6.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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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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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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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 Board of Directors and authorised for issue on
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BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
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1. | STATUTORY INFORMATION |
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Bartec Technologies Limited is a
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Registered number: |
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Registered office: |
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Principal activity |
The principal activity of the company in the year under review was that of providing and maintaining computer systems for the medical and healthcare industry. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The outbreak of the Coronavirus in the UK from March 2020 onwards has impacted the whole country and the related disruption is affecting the general economy. The directors have carefully considered the likely effect of Covid-19 on the Company's future financial performance. The Company has a strong customer base and order book, is continuing to trade profitably and continues to maintain significant levels of cash across the group. The directors has therefore concluded that despite the ongoing difficulties affecting the UK economy, the Company will continue to have sufficient working capital to settle it's liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements, and on this basis it is therefore appropriate that they are prepared on a going concern basis. |
BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Revenue recognition |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: |
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Sale of goods |
Turnover from the sale of goods is recognised when all of the following conditions are satisfied: |
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- the Company has transferred the significant risks and rewards of ownership to the buyer; |
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- the amount of turnover can be measured reliably; |
- it is probable that the Company will receive the consideration due under the transaction; and |
- the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Rendering of services |
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
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- the amount of turnover can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. |
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Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure. |
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Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. |
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Depreciation is provided on the following bases: |
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Plant and equipment | 25 % |
Fixtures and fittings | 25 % |
Motor vehicles | 25 % |
Computer equipment | 25 % |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. |
BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. |
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At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
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Taxation |
Tax is recognised in the Statement of Income and Retained Earnings. |
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The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but no reversed by the Balance Sheet date, except that: |
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- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits ; and |
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- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
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Deferred tax balances are not recognised in respect of permanent differences. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
The company's functional and presentational currency is pounds sterling. |
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Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions and foreign currency balances at the each period end are translated into the presentation currency using the closing rate. |
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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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Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis over the period of the lease. |
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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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BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2020 |
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Additions |
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Disposals |
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At 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Fixtures |
and |
fittings |
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COST |
At 1 July 2020 |
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Transfer to ownership | (3,327 | ) |
At 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Transfer to ownership | (1,180 | ) |
At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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BARTEC TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03616847) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Other tax and social security |
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Other creditors |
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Accruals and deferred income |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.21 | 30.6.20 |
£ | £ |
Accruals and deferred income |
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8. | SECURED DEBTS |
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Included within other creditors are amounts due in respect of hire purchase contracts totalling £ nil (2020: £693) which are secured against the underlying assets. |
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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. | OTHER FINANCIAL COMMITMENTS |
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The company has total commitments under non-cancellable operating leases as follows: |
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30.6.21 | 30.6.20 |
£ | £ |
Due date within 1 year | 986 | 15,000 |
Due date between 1 and 5 years | - | 986 |
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11. | CONTROLLING PARTY |
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The immediate and ultimate parent undertaking is Lablogic Group Holdings Limited, whose registered office address is Paradigm House, 3 Melbourne Avenue, Sheffield, S10 2QJ. The group financial statements of Lablogic Group Holdings Limited are publicly available. |