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REGISTERED NUMBER: 10270842 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Team Barr Property Ltd

Team Barr Property Ltd (Registered number: 10270842)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Team Barr Property Ltd

Company Information
for the year ended 31 July 2023







Directors: Mrs T M Barr
A J Barr





Registered office: Rudgleigh House
Cross Lanes
Pill
Bristol
BS20 0JJ





Registered number: 10270842 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Team Barr Property Ltd (Registered number: 10270842)

Abridged Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 272,560 262,072
272,560 262,072

CURRENT ASSETS
Debtors 2,729 1,267
Cash at bank 37,124 51,413
39,853 52,680
CREDITORS
Amounts falling due within one year (102,924 ) (102,825 )
NET CURRENT LIABILITIES (63,071 ) (50,145 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,489

211,927

CREDITORS
Amounts falling due after more than one
year

7

(221,555

)

(221,555

)
NET LIABILITIES (12,066 ) (9,628 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (12,166 ) (9,728 )
SHAREHOLDERS' FUNDS (12,066 ) (9,628 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Team Barr Property Ltd (Registered number: 10270842)

Abridged Balance Sheet - continued
31 July 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2024 and were signed on its behalf by:




Mrs T M Barr - Director



A J Barr - Director


Team Barr Property Ltd (Registered number: 10270842)

Notes to the Financial Statements
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Team Barr Property 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Computer equipment - 33% on cost

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Team Barr Property Ltd (Registered number: 10270842)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 August 2022
and 31 July 2023 1,006
Depreciation
At 1 August 2022
and 31 July 2023 1,006
Net book value
At 31 July 2023 -
At 31 July 2022 -

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 August 2022 267,420
Additions 10,488
At 31 July 2023 277,908
Depreciation
At 1 August 2022
and 31 July 2023 5,348
Net book value
At 31 July 2023 272,560
At 31 July 2022 262,072

No adjustments are considered necessary to the carrying value of the investment properties as the directors consider that the fair values are unchanged in the period under review.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Other loans more 5yrs instal 221,555 221,555

Team Barr Property Ltd (Registered number: 10270842)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 221,555 221,555

Paragon Bank PLC and Paragon Mortgages (2010) Limited hold the floating charge of all property or undertaking of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100