2022-01-012022-12-312022-12-31false08703296TOWER HILL BARNS 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TOWER HILL BARNS LIMITED

Registered Number
08703296
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

TOWER HILL BARNS LIMITED
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

MARSHALL, Andrew Julian
MARSHALL, Sally

Registered Address

Tower Hill Barns
Llangollen Road
Trevor
LL20 7TN

Registered Number

08703296 (England and Wales)
TOWER HILL BARNS LIMITED
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets62,498,0712,516,161
2,498,0712,516,161
Current assets
Stocks74,295-
Debtors8342,038292,796
Cash at bank and on hand327,325438,469
673,658731,265
Creditors amounts falling due within one year9(279,823)(227,351)
Net current assets (liabilities)393,835503,914
Total assets less current liabilities2,891,9063,020,075
Creditors amounts falling due after one year10(1,093,652)(1,228,645)
Net assets1,798,2541,791,430
Capital and reserves
Called up share capital100100
Revaluation reserve1,076,0001,076,000
Profit and loss account722,154715,330
Shareholders' funds1,798,2541,791,430
The financial statements were approved and authorised for issue by the Board of Directors on 28 September 2023, and are signed on its behalf by:
MARSHALL, Andrew Julian
Director
MARSHALL, Sally
Director

Registered Company No. 08703296
TOWER HILL BARNS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
Wedding Services & Venue Hire
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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 policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year3915
6.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 222,510,985101,468498,68710,1733,121,313
Additions11,8534,6622,365-18,880
Disposals-(15,000)--(15,000)
At 31 December 222,522,83891,130501,05210,1733,125,193
Depreciation and impairment
At 01 January 22105,41563,826431,7954,116605,152
Charge for year1,7971,71016,9491,51421,970
At 31 December 22107,21265,536448,7445,630627,122
Net book value
At 31 December 222,415,62625,59452,3084,5432,498,071
At 31 December 212,405,57037,64266,8926,0572,516,161
7.Stocks

2022

2021

££
Work in progress4,295-
Total4,295-
8.Debtors

2022

2021

££
Trade debtors / trade receivables40,77921,881
Other debtors301,259270,488
Prepayments and accrued income-427
Total342,038292,796
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables25,19470,487
Taxation and social security241,021144,052
Other creditors11,53310,737
Accrued liabilities and deferred income2,0752,075
Total279,823227,351
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts1,093,6521,228,645
Total1,093,6521,228,645
Included in Other Creditors falling due after 1 Year are the following balances as at 31/12/2022 - HSBC £866,298 & Coronavirus Business Loan £ £179,592
11.Finance lease and HP contracts after one year
Included in Other Creditors falling due after 1 Year are the following balances as at 31/12/2022Hire purchase loans £59,982