Registered number
12956363
Barnfield Investments Ltd
Unaudited Filleted Accounts
31 December 2023
Barnfield Investments Ltd
Registered number: 12956363
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 54,370 54,370
Tangible assets 4 1,090,511 1,128,056
1,144,881 1,182,426
Current assets
Debtors 5 391,697 362,420
Cash at bank and in hand 99,000 81,943
490,697 444,363
Creditors: amounts falling due within one year 6 (128,293) (123,485)
Net current assets 362,404 320,878
Total assets less current liabilities 1,507,285 1,503,304
Creditors: amounts falling due after more than one year 7 (1,391,911) (1,471,911)
Provisions for liabilities (13,613) -
Net assets 101,761 31,393
Capital and reserves
Called up share capital 2 2
Profit and loss account 101,759 31,391
Shareholders' funds 101,761 31,393
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Roberts
Director
Approved by the board on 18 September 2024
Barnfield Investments Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Other property, plant and machinery over 15 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Investments
Cost
At 1 January 2023 54,370
At 31 December 2023 54,370
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 54,370
At 31 December 2022 54,370
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 987,000 212,913 1,199,913
At 31 December 2023 987,000 212,913 1,199,913
Depreciation
At 1 January 2023 34,757 37,100 71,857
Charge for the year 16,240 21,305 37,545
At 31 December 2023 50,997 58,405 109,402
Net book value
At 31 December 2023 936,003 154,508 1,090,511
At 31 December 2022 952,243 175,813 1,128,056
5 Debtors 2023 2022
£ £
Trade debtors 5,381 17,533
Amounts owed by group undertakings and undertakings in which the company has a participating interest 385,374 339,893
Other debtors 942 4,994
391,697 362,420
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,250 6,309
Taxation and social security costs 25,944 15,078
Other creditors 99,099 102,098
128,293 123,485
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,391,911 1,471,911
8 Related party transactions
Included in creditors is £1,487,910 (2022 £1,571,910) owed to the directors. No interest has been charged in the year.
9 Other information
Barnfield Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hameldown House
Hameldown Road
Exeter Road, Okehampton
Devon
EX20 1UB
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