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Company registration number: 14686643
Dronfield Hall Barn Limited
Trading as Dronfield Hall Barn
Unaudited filleted financial statements
31 December 2023
Dronfield Hall Barn Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Dronfield Hall Barn Limited
Directors and other information
Directors Mr. Alan Powell
Ms. Lisa Mason
Company number 14686643
Registered office Unit 8, Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB
Business address High Street
Dronfield
Derbyshire
S18 1PX
Accountants Henry Bramall & Co Limited
Unit 8, Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
Dronfield Hall Barn Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Dronfield Hall Barn Limited
Period ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dronfield Hall Barn Limited for the period ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Dronfield Hall Barn Limited, as a body, in accordance with the terms of our engagement letter dated 9 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Dronfield Hall Barn Limited and state those matters that we have agreed to state to the board of directors of Dronfield Hall Barn Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dronfield Hall Barn Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Dronfield Hall Barn Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dronfield Hall Barn Limited. You consider that Dronfield Hall Barn Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Dronfield Hall Barn Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Henry Bramall & Co Limited
Association of Chartered Certified Accountants
Unit 8, Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
24 September 2024
Dronfield Hall Barn Limited
Statement of financial position
31 December 2023
31/12/23
Note £ £
Fixed assets
Tangible assets 5 10,210
_______
10,210
Current assets
Stocks 1,026
Debtors 6 39,272
Cash at bank and in hand 332
_______
40,630
Creditors: amounts falling due
within one year 7 ( 40,731)
_______
Net current liabilities ( 101)
_______
Total assets less current liabilities 10,109
_______
Net assets 10,109
_______
Capital and reserves
Called up share capital 1
Profit and loss account 10,108
_______
Shareholders funds 10,109
_______
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr. Alan Powell Ms. Lisa Mason
Director Director
Company registration number: 14686643
Dronfield Hall Barn Limited
Notes to the financial statements
Period ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 8, Acorn Business Park, Woodseats Close, Sheffield, South Yorkshire, S8 0TB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 %
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the period amounted to 25
The aggregate payroll costs incurred during the period were:
Period
ended
31/12/23
£
Wages and salaries 184,201
Social security costs 6,082
Other pension costs 2,837
_______
193,120
_______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 24 February 2023 - -
Additions 12,763 12,763
_______ _______
At 31 December 2023 12,763 12,763
_______ _______
Depreciation
At 24 February 2023 - -
Charge for the year 2,553 2,553
_______ _______
At 31 December 2023 2,553 2,553
_______ _______
Carrying amount
At 31 December 2023 10,210 10,210
_______ _______
6. Debtors
31/12/23
£
Trade debtors 3,289
Amounts owed by group undertakings and undertakings in which the company has a participating interest 34,921
Other debtors 1,062
_______
39,272
_______
7. Creditors: amounts falling due within one year
31/12/23
£
Trade creditors 8,007
Social security and other taxes 30,984
Other creditors 1,740
_______
40,731
_______
8. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
Period Period
ended ended
31/12/23 31/12/23
£ £
Dronfield Heritage Trust - income 16,575 34,972
Dronfield Heritage Trust - cost ( 4,750) -
_______ _______
These related costs are the recharge of payroll and overhead between this company and its parent.
9. Controlling party
This company is the trading subsidiary of the Charity known as Dronfield Heritage Trust (charity number:1120875) a company incorporated in England and Wales under registered number 06299935. This being the ultimate parent company.