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REGISTERED NUMBER:
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GEORGE BARNSDALE & SONS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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REGISTERED NUMBER:
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GEORGE BARNSDALE & SONS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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GEORGE BARNSDALE & SONS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
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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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5 Resolution Close |
Endeavour Park |
Boston |
Lincolnshire |
PE21 7TT |
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BANKERS: |
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Hall Place |
Spalding |
Lincolnshire |
PE11 1SF |
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SOLICITORS: |
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28 Wide Bargate |
Boston |
Lincolnshire |
PE21 6RT |
GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2019 |
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2019 | 2018 |
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 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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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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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2019 |
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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 and authorised for issue by the Board of Directors on
were signed on its behalf by: |
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GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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George Barnsdale & Sons Limited is a
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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 Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced and accrued sales of goods, excluding value added tax. Revenue is |
recognised at the point of sale. |
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Tangible fixed assets |
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Freehold land and buildings | - |
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Plant and machinery | - |
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Stocks |
Stock is valued at the lower of cost and sales price less estimated cost to sell. Cost is determined on an average |
cost basis and, where applicable, includes all direct expenditure and an appropriate proportion of overheads. |
Work in progress is valued at cost of materials and an uplifted labour charge to cover overheads. |
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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 statement of financial position 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 |
statement of financial position 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. |
GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial |
position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the |
shorter. |
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The interest element of these obligations is charged to the income statement over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Government grants |
Government grants relate to revenue items and are recognised in the income statement on an income basis. |
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Grant funding |
Grant funding relates to capital expenditure and is recognised in the income statement over the useful |
economic lives of the assets to which it relates. |
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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 the income statement 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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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Plant and machinery includes assets held under a finance lease, which have a net book value of £95,946 (2018 |
- £103,089). |
GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Finance leases |
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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 |
2019 | 2018 |
£ | £ |
Bank loans |
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Finance leases |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 23,683 | 74,011 |
GEORGE BARNSDALE & SONS LIMITED (REGISTERED NUMBER: 02487250) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdraft |
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Bank loans |
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Finance leases | 60,115 | 101,443 |
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Liabilities under finance leases and hire purchase contracts are secured on the assets to which they relate. |
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The bank overdraft and loan facilities are secured by way of the following: |
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1) | an unlimited debenture dated 17 April 1990; |
2) | an unlimited charge dated 21 July 1993; |
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An Omnibus guarantee and set-off agreement was put in place on 12 June 2018. The agreement is
between George Barnsdale & Sons Limited and Others and Lloyds Bank plc. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 140,000 | 140,000 |