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Brecon Cathedral Tithebarn Company Limited
Unaudited Financial Statements
for the
Year Ended 28 February 2023
Brecon Cathedral Tithebarn Company Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Brecon Cathedral Tithebarn Company Limited
Company Information
Directors |
Very Revd Dr P Shackerley The Ven A N Jevons The Revd Canon P Brooks The Revd Canon H Lervy |
Registered office |
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Accountants |
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Brecon Cathedral Tithebarn Company Limited
(Registration number: 03014602)
Balance Sheet
as at 28 February 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net (liabilities)/assets |
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Capital and reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Brecon Cathedral Tithebarn Company Limited
(Registration number: 03014602)
Balance Sheet
as at 28 February 2023
Approved and authorised by the
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Very Revd Dr P Shackerley
Director
Brecon Cathedral Tithebarn Company Limited
Notes to the Financial Statements
for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis.
Changes in accounting policy
New standards, interpretations and amendments effective
The following have been applied for the first time from 1 March 2022 and have had an effect on the financial statements:
Revenue recognition
Turnover represents amounts chargeable in respect of the sale of goods and services to customers, and donations towards the Heritage Centre, excluding Value Added Tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Brecon Cathedral Tithebarn Company Limited
Notes to the Financial Statements
for the Year Ended 28 February 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold property |
2% on cost |
Fixtures and fittings |
20% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Brecon Cathedral Tithebarn Company Limited
Notes to the Financial Statements
for the Year Ended 28 February 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 March 2022 |
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At 28 February 2023 |
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Depreciation |
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At 1 March 2022 |
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Charge for the year |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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At 28 February 2022 |
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Included within the net book value of land and buildings above is £267,334 (2022 - £278,711) in respect of long leasehold land and buildings.
Debtors |
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2022 |
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Trade debtors |
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Brecon Cathedral Tithebarn Company Limited
Notes to the Financial Statements
for the Year Ended 28 February 2023
Creditors |
Creditors: amounts falling due within one year
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2022 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2022 |
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Due after one year |
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Deferred income |
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