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REGISTERED NUMBER: 09966433 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2023

for

HAWTHORN BARNS LTD

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)






Contents of the Financial Statements
for the year ended 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAWTHORN BARNS LTD

Company Information
for the year ended 28 FEBRUARY 2023







DIRECTORS: S L Welman
A E Welman





REGISTERED OFFICE: Thistle Down Barn
Holcot Lane
Sywell
Northants
Northamptonshire
NN6 0BG





REGISTERED NUMBER: 09966433 (England and Wales)





ACCOUNTANTS: Elsby & Co
Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Balance Sheet
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 426,533 343,865
Investment property 5 955,381 910,510
1,381,914 1,254,375

CURRENT ASSETS
Stocks 10,038 9,560
Debtors 6 26,563 54,598
Cash at bank 15,469 19,284
52,070 83,442
CREDITORS
Amounts falling due within one year 7 831,469 655,914
NET CURRENT LIABILITIES (779,399 ) (572,472 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,515

681,903

CREDITORS
Amounts falling due after more than one year 8 (425,141 ) (491,752 )

PROVISIONS FOR LIABILITIES (38,576 ) (45,215 )
NET ASSETS 138,798 144,936

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Fair value reserve 11 95,308 95,308
Retained earnings 41,490 47,628
SHAREHOLDERS' FUNDS 138,798 144,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Balance Sheet - continued
28 FEBRUARY 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





S L Welman - Director


HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements
for the year ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Hawthorn Barns Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance

During the year the decision has been made to amend the depreciation policy from 25% straight line to 25% reducing balance as this reflects the lifetime use of the assets which will hold a residual value after 4 years.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

There has been no material change in fair value since the most recent valuation.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 316,207 178,403 494,610
Additions 182,759 - 182,759
At 28 February 2023 498,966 178,403 677,369
DEPRECIATION
At 1 March 2022 124,031 26,714 150,745
Charge for year 62,169 37,922 100,091
At 28 February 2023 186,200 64,636 250,836
NET BOOK VALUE
At 28 February 2023 312,766 113,767 426,533
At 28 February 2022 192,176 151,689 343,865

The net book value of tangible fixed assets includes £ 277,015 (2022 - £ 227,425 ) in respect of assets held under hire purchase contracts.

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 910,510
Additions 44,871
At 28 February 2023 955,381
NET BOOK VALUE
At 28 February 2023 955,381
At 28 February 2022 910,510

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2019 103,677
Valuation in 2020 13,987
Cost 837,717
955,381

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

2023 2022
£    £   
Cost 789,951 789,951

Investment property was valued on an open market basis on 28 February 2020 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,166 -
Other debtors 23,397 54,598
26,563 54,598

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 37,060 35,955
Hire purchase contracts 29,745 41,467
Trade creditors 146,855 20,890
Taxation and social security 486 324
Other creditors 617,323 557,278
831,469 655,914

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 290,475 327,341
Hire purchase contracts 134,666 164,411
425,141 491,752

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 138,159 172,382

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 327,494 363,296
Hire purchase contracts 164,411 205,878
491,905 569,174

The bank loan is secured on the investment property held in the accounts.

The 3 hire purchase loans are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £1 2,000 2,000

11. RESERVES
Fair
value
reserve
£   
At 1 March 2022
and 28 February 2023 95,308

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 28 FEBRUARY 2023

12. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 134,700

Last year, the Company entered into a contract to purchase an item of plant and equipment for a total of £159,500. The Company was invoiced a deposit of £24,800. This amount was recognised within other debtors. The full amount of £159,500 was included within fixed assets this year.