Company Registration No. 09477848 (England and Wales)
BARRON RESIDENTIAL PROPERTIES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BARRON RESIDENTIAL PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BARRON RESIDENTIAL PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
4
1,203,822
1,203,822
Current assets
Cash at bank and in hand
33,978
23,864
Creditors: amounts falling due within one year
5
(362,899)
(385,302)
Net current liabilities
(328,921)
(361,438)
Total assets less current liabilities
874,901
842,384
Creditors: amounts falling due after more than one year
6
(650,000)
(650,000)
Net assets
224,901
192,384
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
224,899
192,382
Total equity
224,901
192,384

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 October 2023 and are signed on its behalf by:
Mr A Barron
Director
Company registration number 09477848 (England and Wales)
BARRON RESIDENTIAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Barron Residential Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Newstead House, Pelham Road, Nottingham, NG5 1AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BARRON RESIDENTIAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
1

 

 

4
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
1,203,822

The lnvestment comprise of various properties owned by the Company. All properties are valued at cost and the directors believe this remains the fair value of the properties. Any further valuation would involve undue cost.

 

5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
8,527
8,522
Other creditors
354,372
376,780
362,899
385,302
BARRON RESIDENTIAL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
650,000
650,000
2023-03-312022-04-01false11 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr A BarronMrs W BarronMr I R SmithMrs R C  SmithMs J Barron094778482022-04-012023-03-31094778482023-03-31094778482022-03-3109477848core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109477848core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3109477848core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3109477848core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3109477848core:CurrentFinancialInstruments2023-03-3109477848core:CurrentFinancialInstruments2022-03-3109477848core:ShareCapital2023-03-3109477848core:ShareCapital2022-03-3109477848core:RetainedEarningsAccumulatedLosses2023-03-3109477848core:RetainedEarningsAccumulatedLosses2022-03-3109477848bus:Director12022-04-012023-03-31094778482021-04-012022-03-31094778482022-03-3109477848core:Non-currentFinancialInstruments2023-03-3109477848core:Non-currentFinancialInstruments2022-03-3109477848bus:PrivateLimitedCompanyLtd2022-04-012023-03-3109477848bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3109477848bus:FRS1022022-04-012023-03-3109477848bus:AuditExemptWithAccountantsReport2022-04-012023-03-3109477848bus:Director22022-04-012023-03-3109477848bus:Director32022-04-012023-03-3109477848bus:Director42022-04-012023-03-3109477848bus:CompanySecretary12022-04-012023-03-3109477848bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP