Barrington Investments (U.K.) Limited 01775456 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of property maintenance and investment. Digita Accounts Production Advanced 6.30.9574.0 true true 01775456 2022-11-01 2023-10-31 01775456 2023-10-31 01775456 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 01775456 bus:SmallEntities 2022-11-01 2023-10-31 01775456 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 01775456 bus:FullAccounts 2022-11-01 2023-10-31 01775456 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 01775456 bus:RegisteredOffice 2022-11-01 2023-10-31 01775456 bus:Director1 2022-11-01 2023-10-31 01775456 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01775456 countries:EnglandWales 2022-11-01 2023-10-31 01775456 2022-10-31 01775456 2021-11-01 2022-10-31 01775456 2022-10-31 01775456 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 01775456

Prepared for the registrar

Barrington Investments (U.K.) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Barrington Investments (U.K.) Limited

(Registration number: 01775456)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

425,000

425,000

Current assets

 

Cash at bank and in hand

 

33,285

19,866

Creditors: Amounts falling due within one year

5

(713,596)

(711,796)

Net current liabilities

 

(680,311)

(691,930)

Net liabilities

 

(255,311)

(266,930)

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

(256,311)

(267,930)

Shareholders' deficit

 

(255,311)

(266,930)

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 Investments (U.K.) 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Barrington Investments (U.K.) Limited

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

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

At each reporting date, the company reviews the carrying amounts of its investment property to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exisits, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects market assessments of the time value of money and the risks specific to the asset for which the estimate of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

 

3

Staff numbers

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

 

Barrington Investments (U.K.) Limited

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

 

4

Investment properties

£

At 1 November 2022 and 31 October 2023

425,000

On 27 January 2021, the long leasehold investment property was valued by Knight Frank, a third party property consultant. The market value of the property was £425,000.

The carrying value at historical cost is £470,951 (2022 - £470,951).

 

5

Creditors

2023
 £

2022
 £

Due within one year

Amounts due to related parties

711,046

710,246

Other creditors

2,550

1,550

713,596

711,796

 

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.