2022-12-012023-11-302023-11-30false13051982RED BARN DEVELOPMENTS (YORK) 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RED BARN DEVELOPMENTS (YORK) LTD

Registered Number
13051982
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

RED BARN DEVELOPMENTS (YORK) LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

NEWBY, Oliver James
PALLENDER, Lee

Registered Address

153 Millgate
Selby
YO8 3LL

Registered Number

13051982 (England and Wales)
RED BARN DEVELOPMENTS (YORK) LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets75,60013,169
5,60013,169
Current assets
Stocks25,00035,001
Debtors824,6714,496
Cash at bank and on hand80,13463,510
129,805103,007
Creditors amounts falling due within one year9(60,295)(63,500)
Net current assets (liabilities)69,51039,507
Total assets less current liabilities75,11052,676
Creditors amounts falling due after one year(1,911)(6,248)
Provisions for liabilities(1,064)(2,502)
Net assets72,13543,926
Capital and reserves
Called up share capital100100
Profit and loss account72,03543,826
Shareholders' funds72,13543,926
The financial statements were approved and authorised for issue by the Board of Directors on 28 February 2024, and are signed on its behalf by:
NEWBY, Oliver James
Director
PALLENDER, Lee
Director

Registered Company No. 13051982
RED BARN DEVELOPMENTS (YORK) LTD
Notes to the Financial Statements
for the year ended 30 November 2023

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
The principal activity of the business during the period was Construction Services
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
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:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles-3
Office Equipment-3
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.
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
6.Employee information

20232022
Average number of employees during the year53
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 December 2225,384
Additions880
At 30 November 2326,264
Depreciation and impairment
At 01 December 2212,215
Charge for year8,449
At 30 November 2320,663
Net book value
At 30 November 235,600
At 30 November 2213,169
8.Debtors

2023

2022

££
Trade debtors / trade receivables24,671500
Other debtors-3,996
Total24,6714,496
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

2023

2022

££
Trade creditors / trade payables12,60410,676
Amounts owed to related parties18,76731,934
Taxation and social security24,58715,158
Finance lease and HP contracts4,3375,732
Total60,29563,500
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.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts1,9116,248