Company registration number 00778478 (England and Wales)
F BARBER PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
F BARBER PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
F BARBER PROPERTIES LTD (REGISTERED NUMBER: 00778478)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,400,000
1,400,000
Current assets
Debtors
4
4,724
3,959
Cash at bank and in hand
313,445
290,200
318,169
294,159
Creditors: amounts falling due within one year
5
(5,147)
26,141
Net current assets
313,022
320,300
Total assets less current liabilities
1,713,022
1,720,300
Provisions for liabilities
(340,307)
(340,307)
Net assets
1,372,715
1,379,993
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
6
1,046,523
1,046,523
Distributable profit and loss reserves
326,092
333,370
Total equity
1,372,715
1,379,993
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
F BARBER PROPERTIES LTD (REGISTERED NUMBER: 00778478)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
C T Barber
Director
F BARBER PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
F Barber Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bidborough Close, Franks Hollow Road, Tunbridge Wells, Kent, TN3 0UD.
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 £1.
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 the 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.
The following criteria must also be met before turnover is recognised:
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measured reliably
- It is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property is not subject to depreciation.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
F BARBER PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
1,400,000
Investment property comprises a residential property valued at £1,400k. The property has been valued by a director by reference to the sold values of similar properties in the area .
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,795
2,190
Other debtors
1,929
1,769
4,724
3,959
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
127
Other creditors
5,020
(26,141)
5,147
(26,141)
F BARBER PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
1,046,523
-
Non distributable profits in the year
-
1,046,523
At the end of the year
1,046,523
1,046,523
7
Related party transactions
Mr C T Barber had a loan outstanding with the company at 31 December 2022 of £30,000. The loan was repaid in full by 30 September 2023.