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REGISTERED NUMBER: 11091173 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BARNES CAPITAL LIMITED

BARNES CAPITAL LIMITED (REGISTERED NUMBER: 11091173)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BARNES CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S J Barnes
E L Barnes





REGISTERED OFFICE: Fourth Floor St James House
St. James Square
Cheltenham
Gloucestershire
GL50 3PR





REGISTERED NUMBER: 11091173 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

BARNES CAPITAL LIMITED (REGISTERED NUMBER: 11091173)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Property, plant and equipment 4 36,459 47,677
Investment property 5 1,434,600 1,424,600
1,471,059 1,472,277

CURRENT ASSETS
Cash at bank 12,626 3,225

CREDITORS
Amounts falling due within one year 6 (563,107 ) (568,651 )
NET CURRENT LIABILITIES (550,481 ) (565,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

920,578

906,851

CREDITORS
Amounts falling due after more than one
year

7

(850,767

)

(850,767

)

PROVISIONS FOR LIABILITIES (41,286 ) (41,177 )
NET ASSETS 28,525 14,907

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 96,515 89,429
Retained earnings (68,090 ) (74,622 )
SHAREHOLDERS' FUNDS 28,525 14,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

BARNES CAPITAL LIMITED (REGISTERED NUMBER: 11091173)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





S J Barnes - Director


BARNES CAPITAL LIMITED (REGISTERED NUMBER: 11091173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Barnes Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

The following principal accounting policies have been applied:

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantially enacted at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

BARNES CAPITAL LIMITED (REGISTERED NUMBER: 11091173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Motor
vehicles
£
COST
At 1 January 2023
and 31 December 2023 56,090
DEPRECIATION
At 1 January 2023 8,413
Charge for year 11,218
At 31 December 2023 19,631
NET BOOK VALUE
At 31 December 2023 36,459
At 31 December 2022 47,677

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023 1,424,600
Revaluations 10,000
At 31 December 2023 1,434,600
NET BOOK VALUE
At 31 December 2023 1,434,600
At 31 December 2022 1,424,600

Fair value at 31 December 2023 is represented by:
£
Valuation in 2022 1,424,600
Valuation in 2023 10,000
1,434,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other creditors 563,107 568,651

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other creditors 850,767 850,767