Barrington Inns Limited 03788766 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of property management and investment. Digita Accounts Production Advanced 6.30.9574.0 true 03788766 2022-11-01 2023-10-31 03788766 2023-10-31 03788766 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 03788766 bus:SmallEntities 2022-11-01 2023-10-31 03788766 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 03788766 bus:FullAccounts 2022-11-01 2023-10-31 03788766 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 03788766 bus:RegisteredOffice 2022-11-01 2023-10-31 03788766 bus:Director1 2022-11-01 2023-10-31 03788766 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03788766 countries:EnglandWales 2022-11-01 2023-10-31 03788766 2022-10-31 03788766 2021-11-01 2022-10-31 03788766 2022-10-31 03788766 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 03788766

Prepared for the registrar

Barrington Inns Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Barrington Inns Limited

(Registration number: 03788766)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,200,000

1,200,000

Creditors: Amounts falling due within one year

5

(774,032)

(953,756)

Net assets

 

425,968

246,244

Capital and reserves

 

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 on 29 July 2024
 


P S Roberts
Director

 

Barrington Inns Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Coach House
Gaol Street
Hereford
HR1 2HU

 

2

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
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

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 and loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

4

Investment properties

£

At 1 November 2022 and 31 October 2023

1,200,000

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

 

5

Creditors

2023
 £

2022
 £

Due within one year

Amounts due to related parties

747,673

935,998

Other creditors

26,359

17,758

774,032

953,756

 

6

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.