Barlow Technology Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03203951 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Barlow Technology Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I Barlow

Mrs J Barlow

R Barlow

REGISTERED OFFICE:

Durham Tees Valley Business Centre

Orde Wingate Way

Stockton-on-Tees

Cleveland

TS19 0GA

REGISTERED NUMBER:

03203951 (England and Wales)

ACCOUNTANTS:

Davies Tracey

Chartered Accountants and Business Advisers

Swan House

Westpoint Road

Teesdale Business Park

Stockton on Tees

TS17 6BP

FIXED ASSETS

Tangible assets

3

637

1,427

CURRENT ASSETS

Debtors

284,890

240,285

Cash at bank

222,209

152,279

507,099

392,564

CREDITORS

Amounts falling due within one year

441,706

333,671

NET CURRENT ASSETS

65,393

58,893

TOTAL ASSETS LESS CURRENT LIABILITIES

66,030

60,320

PROVISIONS FOR LIABILITIES

127

229

NET ASSETS

65,903

60,091

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

64,903

59,091

SHAREHOLDERS' FUNDS

65,903

60,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its behalf by:

I Barlow - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Foreign exchange transactions

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 profit.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

6,711

Disposals

(1,484

)

At 31 December 2017

5,227

DEPRECIATION

At 1 January 2017

5,284

Charge for year

569

Eliminated on disposal

(1,263

)

At 31 December 2017

4,590

NET BOOK VALUE

At 31 December 2017

637

At 31 December 2016

1,427

4.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £30,000 (2016: £2,783) relating to

amounts payable under operating leases.