Registration number:
Prepared for the registrar
for the
Year Ended 31 October 2023
Barrington Inns Limited
(Registration number: 03788766)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment property |
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|
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
2 |
2 |
|
Profit and loss account |
425,966 |
246,242 |
|
Shareholders' funds |
425,968 |
246,244 |
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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.
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.
Approved and authorised by the
Director
Barrington Inns Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover represents rental income from the Company's portfolio of investment properties, recharged utility and related costs, arising from operating leases, excluding VAT. The Company recognises such revenue on a straight line accruals basis.
Tax
The tax expense for the period comprises current corporation tax and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Barrington Inns Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Financial instruments
Classification
Recognition and measurement
Impairment
Investment property
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
£ |
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At 1 November 2022 and 31 October 2023 |
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Investment properties with a carrying amount of £1,200,000 were valued at 3 November 2020 by McCartneys LLP, independent valuers not connected with the company, on a market value basis. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
Investment properties are carried at valuation. If investment properties were measured using the cost model, the carrying amount would have been £2,177,474 (2022 - £2,177,474).
Barrington Inns Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Creditors |
2023 |
2022 |
|
Due within one year |
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Amounts due to related parties |
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Other creditors |
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Parent and ultimate parent undertaking |
The company's immediate parent is C F Roberts (Holdings) Limited, incorporated in England and Wales.
The ultimate parent is Third Generation Investments Limited, incorporated in England and Wales.