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COMPANY REGISTRATION NUMBER: 08369410
Barton Ventures Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2023
Barton Ventures Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
1,990,745
1,992,235
Current assets
Debtors
5
9,167
Cash at bank and in hand
50,586
89,249
--------
--------
59,753
89,249
Creditors: amounts falling due within one year
6
1,005,275
1,007,663
------------
------------
Net current liabilities
945,522
918,414
------------
------------
Total assets less current liabilities
1,045,223
1,073,821
Creditors: amounts falling due after more than one year
7
494,869
578,920
------------
------------
Net assets
550,354
494,901
------------
------------
Capital and reserves
Called up share capital
3
3
Revaluation reserve
305,000
305,000
Profit and loss account
245,351
189,898
---------
---------
Shareholders funds
550,354
494,901
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Barton Ventures Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 18 October 2023 , and are signed on behalf of the board by:
C Leak
Director
Company registration number: 08369410
Barton Ventures Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
1,990,000
5,960
1,995,960
------------
-------
------------
Depreciation
At 1 February 2022
3,725
3,725
Charge for the year
1,490
1,490
------------
-------
------------
At 31 January 2023
5,215
5,215
------------
-------
------------
Carrying amount
At 31 January 2023
1,990,000
745
1,990,745
------------
-------
------------
At 31 January 2022
1,990,000
2,235
1,992,235
------------
-------
------------
The freehold property was revalued by the directors on 31 January 2023, on an open market value basis.
5. Debtors
2023
2022
£
£
Other debtors
9,167
-------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,000
6,667
Corporation tax
16,148
16,146
Social security and other taxes
12,883
8,648
Other creditors
968,244
976,202
------------
------------
1,005,275
1,007,663
------------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
494,869
578,920
---------
---------
The bank loan is secured on the freehold property and is repayable by October 2024.
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
A Nicolas
( 322,243)
15,000
( 307,243)
K Nicolas
( 313,817)
( 9,383)
( 323,200)
C Leak
( 314,537)
( 314,537)
---------
--------
---------
( 950,597)
5,617
( 944,980)
---------
--------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
A Nicolas
( 322,243)
( 322,243)
K Nicolas
( 313,817)
( 313,817)
C Leak
( 314,537)
( 314,537)
---------
----
---------
( 950,597)
( 950,597)
---------
----
---------