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REGISTERED NUMBER: 13028102 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

BARRELL CORP LIMITED

BARRELL CORP LIMITED (REGISTERED NUMBER: 13028102)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BARRELL CORP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Ms Y Babich
P A Cooper





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 13028102 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

BARRELL CORP LIMITED (REGISTERED NUMBER: 13028102)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 518 160
Investment property 4 737,000 737,000
737,518 737,160

CURRENT ASSETS
Debtors 5 - 1,109
Cash at bank 1,680 2,516
1,680 3,625
CREDITORS
Amounts falling due within one year 6 285,587 287,722
NET CURRENT LIABILITIES (283,907 ) (284,097 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,611

453,063

CREDITORS
Amounts falling due after more than one
year

7

530,476

530,472
NET LIABILITIES (76,865 ) (77,409 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (76,867 ) (77,411 )
(76,865 ) (77,409 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





P A Cooper - Director


BARRELL CORP LIMITED (REGISTERED NUMBER: 13028102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents rental income.

All income is recognised on a accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022 - 183 183
Additions 180 350 530
At 30 November 2023 180 533 713
DEPRECIATION
At 1 December 2022 - 23 23
Charge for year 34 138 172
At 30 November 2023 34 161 195
NET BOOK VALUE
At 30 November 2023 146 372 518
At 30 November 2022 - 160 160

BARRELL CORP LIMITED (REGISTERED NUMBER: 13028102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 737,000
NET BOOK VALUE
At 30 November 2023 737,000
At 30 November 2022 737,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2022 (55,681 )
Cost 792,681
737,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments - 1,109

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 3,000 -
Directors' loan accounts 265,655 284,775
Accruals and deferred income 15,600 1,687
Accrued expenses 1,332 1,260
285,587 287,722

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 530,476 530,472

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 530,476 530,472

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, P A Cooper & Ms Y Babich decreased their loan to the company. As at 30 November 2023, the company owed them £265,655 (2022:£284,775). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

Also, during the year, the company paid P A Cooper & Ms Y Babich rent amounting to £1,733 (2022:£1,084) as a result of utilising office space within their home.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P A Cooper & Ms Y Babich.

This was by virtue of their 100%. holding of the issued share capital.

BARRELL CORP LIMITED (REGISTERED NUMBER: 13028102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the year the company made a profit of £544, and as at the year end the current liabilities exceeded current assets by £283,907.

The validity of this basis depends upon the continued support of the company's directors. The directors confirm that they will give the required support.