Company Registration No. 12448919 (England and Wales)
BAREFOOT BARNS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
BAREFOOT BARNS LTD
COMPANY INFORMATION
Directors
Mrs Emma Dowinton
Mr Roy Dowinton
Company number
12448919
Registered office
Barefoot Barns Figsbury Ring
Firsdown
Salisbury
Wiltshire
SP4 6DT
Accountants
Peter Leach
Unit D1 Wagon Yard
London Road
Marlborough
Wiltshire
SN8 1LH
BAREFOOT BARNS LTD
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 5
BAREFOOT BARNS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -
The directors present their annual report and financial statements for the year ended 28 February 2023.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs Emma Dowinton
Mr Roy Dowinton
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs Emma Dowinton
Mr Roy Dowinton
Director
Director
3 January 2024
BAREFOOT BARNS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
2023
2022
£
£
Turnover
4,080
-
Cost of sales
3,635
Gross profit
7,715
-
Administrative expenses
(2,367)
Profit before taxation
5,348
Tax on profit
Profit for the financial year
5,348
BAREFOOT BARNS LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,600
4,800
Current assets
Stocks
23,948
19,000
Cash at bank and in hand
19
23,967
19,000
Creditors: amounts falling due within one year
4
(724)
195
Net current assets
23,243
19,195
Total assets less current liabilities
26,843
23,995
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
26,743
23,895
Total equity
26,843
23,995
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 3 January 2024 and are signed on its behalf by:
Mrs Emma Dowinton
Mr Roy Dowinton
Director
Director
Company Registration No. 12448919
BAREFOOT BARNS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information
Barefoot Barns Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Barefoot Barns Figsbury Ring, Firsdown, Salisbury, Wiltshire, SP4 6DT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
BAREFOOT BARNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 and 28 February 2023
4,800
Depreciation and impairment
At 1 March 2022
Depreciation charged in the year
1,200
At 28 February 2023
1,200
Carrying amount
At 28 February 2023
3,600
At 28 February 2022
4,800
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
724
(195)