REGISTERED NUMBER: 08774535 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2018

for

Barwise Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Barwise

D P Barwise

Mrs J Stark

SECRETARY:

REGISTERED OFFICE:

Creative 7,Miners Park

Llay Industrial Estate

Llay

Wrexham

Clwyd

LL12 0PJ

REGISTERED NUMBER:

08774535 (England and Wales)

ACCOUNTANTS:

Robert Jones Accountants Limited

Chartered Accountants

Office 9, The Neston Centre,

High Street

Neston

Cheshire

CH64 9TZ

FIXED ASSETS

Intangible assets

4

1,018

-

Tangible assets

5

22,066

15,567

Investments

6

180

180

Investment property

7

1,938,536

1,330,000

1,961,800

1,345,747

CURRENT ASSETS

Debtors

8

63,632

80,963

Cash at bank

17,677

4,526

81,309

85,489

CREDITORS

Amounts falling due within one year

9

131,022

71,857

NET CURRENT (LIABILITIES)/ASSETS

(49,713

)

13,632

TOTAL ASSETS LESS CURRENT LIABILITIES

1,912,087

1,359,379

CREDITORS

Amounts falling due after more than one year

10

(938,633

)

(698,750

)

PROVISIONS FOR LIABILITIES

(59,436

)

(56,049

)

NET ASSETS

914,018

604,580

CAPITAL AND RESERVES

Called up share capital

80

80

Fair value reserve

12

151,761

151,342

Retained earnings

762,177

453,158

SHAREHOLDERS' FUNDS

914,018

604,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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.

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

The financial statements were approved by the Board of Directors on 25 October 2018 and were signed on its behalf by:

M D Barwise - Director

1.	STATUTORY INFORMATION

Barwise Holdings 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.

2.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable net of VAT.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially

measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market

value. Deferred tax is provided on these movements. Gains and losses arising from the fair value of investment properties

are included in the Statement of Income and Retained Earnings in the period in which they arise.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

1,131

At 31 January 2018

1,131

AMORTISATION

Charge for year

113

At 31 January 2018

113

NET BOOK VALUE

At 31 January 2018

1,018

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

24,907

Additions

10,929

At 31 January 2018

35,836

DEPRECIATION

At 1 February 2017

9,340

Charge for year

4,430

At 31 January 2018

13,770

NET BOOK VALUE

At 31 January 2018

22,066

At 31 January 2017

15,567

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2017

and 31 January 2018

180

NET BOOK VALUE

At 31 January 2018

180

At 31 January 2017

180

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gadgets UK Internet Limited

Registered office:

Nature of business: Internet sale of goods.

%

Class of shares:

holding

Ordinary

100.00

31.1.18

31.1.17

£

£

Aggregate capital and reserves

1,469,997

1,271,772

Profit for the year

648,225

543,170

Creative 7 UK Limited

Registered office:

Nature of business: Dormant company

%

Class of shares:

holding

Ordinary

100.00

31.1.18

31.1.17

£

£

Aggregate capital and reserves

100

100

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2017

1,330,000

Additions

648,536

Disposals

(40,000

)

At 31 January 2018

1,938,536

NET BOOK VALUE

At 31 January 2018

1,938,536

At 31 January 2017

1,330,000

Fair value at 31 January 2018 is represented by:

£

Valuation in 2017

189,703

Cost

1,748,833

1,938,536

If investment property had not been revalued it would have been included at the following historical cost:

31.1.18

31.1.17

£

£

Cost

1,748,833

1,140,821

Aggregate depreciation

(48,769

)

(27,401

)

Investment property was valued on an open market basis on 31 January 2018 by the directors .

The company purchased a further yard and associated buildings on Miners Road during the year. Further building work was

carried out in order to produce additional units for rental. The work was not complete as at the year end and so the directors

have not revalued that site. It is the intention to revalue this once the works have been completed.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade debtors

4,650

-

Amounts owed by group undertakings

44,702

72,537

Other debtors

14,280

8,426

63,632

80,963

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Bank loans and overdrafts

67,199

44,768

Trade creditors

38,492

-

Amounts owed to group undertakings

100

100

Taxation and social security

14,035

21,592

Other creditors

11,196

5,397

131,022

71,857

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.18

31.1.17

£

£

Bank loans

938,633

698,750

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

645,687

502,174

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.18

31.1.17

£

£

Bank loans

1,005,832

743,518

The bank loan is secured by means of a legal mortgage over the freehold properties at Miners Road owned by the company.

and a fixed and floating charge over all assets of the company.

12.

RESERVES

Fair

value

reserve

£

At 1 February 2017

151,342

Reserve transfer

419

At 31 January 2018

151,761

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 (2017 - £100,000) were paid to the directors .

14.	POST BALANCE SHEET EVENTS

The company has subsequently disposed of one of it's buildings, Aquabourne House. The directors believe the building is

shown at fair value at the balance sheet date.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is M D Barwise.