REGISTERED NUMBER: 07933646 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
BARNBY C H LIMITED |
REGISTERED NUMBER: 07933646 (England and Wales) |
GROUP STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
BARNBY C H LIMITED |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Director | 4 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 9 |
Consolidated Other Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 13 |
Company Statement of Changes in Equity | 14 |
Consolidated Cash Flow Statement | 15 |
Notes to the Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Financial Statements | 17 |
BARNBY C H LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Network House |
Stubs Beck Lane |
Cleckheaton |
BD19 4TT |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
The director presents his strategic report of the company and the group for the year ended 30 September 2023. |
The group's principal activities for the period under review were those of operators of residential care homes and hoteliers. |
REVIEW OF BUSINESS |
We aim to present a balanced and comprehensive review of the development and performance of our business and its position at the period end. Our review is consistent with the size and straightforward nature of our business and is written in the context of the risks and uncertainties we face. |
The Group comprises 4 trading companies: |
Dukeries Healthcare Ltd, which operates 4 Care Homes |
Coaching Inns (North) Ltd, which operates a 4 star hotel, Ye Olde Bell Ltd at Barnby Moor near Retford |
Spa at Ye Olde Bell Ltd, a company formed to operate a recently constructed spa facility adjacent to the hotel. |
Barnby Properties Ltd, which is a property trading company. |
The Results for the Group are presented for the year ended 30 September 2023 with comparatives for the year ended 30 September 2022. |
The turnover of the group amounts to £17,165,902 for the year compared to £16,273,061 for the previous year. This represents an increase of 5.5% and relates to the continued growth of the group. |
Operating profit for the year amounted to £2,723,195 compared to £2,770,649, a very similar figure. |
The profit before taxation for the year amounts to £2,812,368 compared to £1,438,472 for the previous year. This increase has occurred because the 2022 accounts included a reduction in the value of the group's investments of £527,408 and a provision of £806,684 relating to accrued interest on the tax payable by the group following the conclusion of the long running HMRC enquiry. When adjustment has been made to profit in 2022 for these 2 items, the pre-tax profit is very similar in both years. |
The tax enquiry concluded during the year but a provision for the tax arising was made in the 2022 accounts which resulted in a loss after tax of £1,965,136 in 2022 compared to a profit after tax of £2,387,921 in the 2023 accounts. All the tax and related interest was paid during the year. |
The group's net assets have therefore increased from £10,457,795 at 30 September 2022 to £12,818,220 at 30 September 2023 and the director considers this to be a very satisfactory state of affairs. |
The directors regularly consider non financial KPI's such as occupancy levels for the care homes and the hotel and also any external reports from the CQC or other inspectors. They then take any action necessary.considered necessary. |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
PRINCIPAL RISKS AND UNCERTAINTIES |
Continuing economic pressure in the UK is a risk for the group which is managed by providing added value services to customers and having fast response times and by maintaining strong relationships with customers. |
The group monitors its trading operations very carefully so as to pick up any potential problems at an early stage. |
Financial, credit,liquidity and cashflow risk are considered low as the group continues to show strong profitability and cash generation. |
Economic |
The level of Inflation in the UK reached its highest level for several decades with interest rates similarly higher. A strong cash position has negated the impact of this on the business. The effects are likely to continue into the current year but the company is well placed to manage this. |
Operational |
The provision of care for the elderly by the group's care homes has many associated risks. The company manages this with a strong focus on health and safety and staff training. Procedures within the business are robust and mitigate the risk involved in operating from multiple sites. |
The group continues to invest in training for employees to ensure it has the optimal skills to support all stakeholders. |
The group has put in place procedures to should Covid or any similar health issues arise in the future. |
EMPLOYEE INVOLVEMENT |
Within the grounds of commercial confidentiality, information is disseminated to all levels of staff about matters that affect the group and are of interest to them as employees. |
DISABLED EMPLOYEES |
The group gives equal opportunity to the employment of disabled persons where applicable. |
It is the policy of the group that training, career development and promotion opportunities should be available to all employees. |
ON BEHALF OF THE BOARD: |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 30 September 2023. |
PRINCIPAL ACTIVITIES |
The principal activities of the group in the year under review were those of operators of residential care homes and hoteliers. |
DIVIDENDS |
An interim dividend of £27,500 per share on the Ordinary A £1 shares was paid on 30 September 2023. The director recommends that no final dividend be paid on these shares. |
No interim dividend was paid on the Ordinary £1 shares. The director recommends that no final dividend be paid on these shares. |
The total distribution of dividends for the year ended 30 September 2023 will be £ 27,500 . |
DIRECTOR |
His beneficial interest in the issued share capital of the company was as follows: |
30.9.23 | 1.10.22 |
Ordinary £1 shares | 3 | 3 |
Ordinary A £1 shares | - | - |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
AUDITORS |
KJA Kilner Johnson Ltd (Statutory Auditors) will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BARNBY C H LIMITED |
Opinion |
We have audited the financial statements of Barnby C H Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2023 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BARNBY C H LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
While planning our audit, we have enquired of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage. |
We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us. |
While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities. |
The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that require additional reporting. |
These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
BARNBY C H LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Network House |
Stubs Beck Lane |
Cleckheaton |
BD19 4TT |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONSOLIDATED |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
as restated |
Notes | £ | £ |
TURNOVER | 17,165,902 | 16,273,061 |
Cost of sales | 10,045,488 | 9,462,874 |
GROSS PROFIT | 7,120,414 | 6,810,187 |
Administrative expenses | 4,679,454 | 4,377,999 |
2,440,960 | 2,432,188 |
Other operating income | 282,235 | 338,461 |
OPERATING PROFIT | 4 | 2,723,195 | 2,770,649 |
Interest receivable and similar income | 40,997 | 2,095 |
2,764,192 | 2,772,744 |
Gain/loss on revaluation of assets | 76,726 | (527,408 | ) |
2,840,918 | 2,245,336 |
Interest payable and similar expenses | 5 | 28,550 | 806,864 |
PROFIT BEFORE TAXATION | 2,812,368 | 1,438,472 |
Tax on profit | 6 | 424,447 | 3,403,608 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Profit/(loss) attributable to: |
Owners of the parent | 2,387,921 | (1,965,136 | ) |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONSOLIDATED |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
as restated |
Notes | £ | £ |
PROFIT/(LOSS) FOR THE YEAR | 2,387,921 | (1,965,136 | ) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
2,387,921 |
Prior year adjustment | 84,687 |
TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT |
(1,880,449 |
) |
Total comprehensive income attributable to: |
Owners of the parent | 2,387,921 | (1,880,449 | ) |
** | PLEASE COMPLETE CLIENT SCREEN - OTHER COMPREHENSIVE INCOME. THERE HAS BEEN REVALUATION IN CURRENT YEAR FOR FIXED ASSET INVESTMENTS WHICH SHOULD BE REPORTED ON THIS SCREEN |
** | PLEASE COMPLETE CLIENT SCREEN - OTHER COMPREHENSIVE INCOME. THERE HAS BEEN REVALUATION IN LAST YEAR FOR FIXED ASSET INVESTMENTS WHICH SHOULD BE REPORTED ON THIS SCREEN |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONSOLIDATED BALANCE SHEET |
30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 | 2,511,026 | 2,658,977 |
Investments | 11 | 2,424,797 | 6,182,247 |
4,935,823 | 8,841,224 |
CURRENT ASSETS |
Stocks | 12 | 948,398 | 947,654 |
Debtors | 13 | 6,485,710 | 2,761,028 |
Cash at bank and in hand | 5,298,454 | 5,904,673 |
12,732,562 | 9,613,355 |
CREDITORS |
Amounts falling due within one year | 14 | 4,673,820 | 7,770,758 |
NET CURRENT ASSETS | 8,058,742 | 1,842,597 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
12,994,565 |
10,683,821 |
PROVISIONS FOR LIABILITIES | 15 | 176,345 | 226,023 |
NET ASSETS | 12,818,220 | 10,457,798 |
CAPITAL AND RESERVES |
Called up share capital | 16 | 4 | 3 |
Retained earnings | 17 | 12,818,216 | 10,457,795 |
SHAREHOLDERS' FUNDS | 12,818,220 | 10,457,798 |
The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by: |
A P Levack - Director |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
COMPANY BALANCE SHEET |
30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 15 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
Company's profit/(loss) for the financial year | 244,932 | (365,440 | ) |
The financial statements were approved by the director and authorised for issue on |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 October 2021 | 3 | 12,338,244 | 12,338,247 |
Prior year adjustment | - | 84,687 | 84,687 |
As restated | 3 | 12,422,931 | 12,422,934 |
Changes in equity |
Total comprehensive income | - | (1,965,136 | ) | (1,965,136 | ) |
Balance at 30 September 2022 | 3 | 10,457,795 | 10,457,798 |
Changes in equity |
Issue of share capital | 1 | - | 1 |
Dividends | - | (27,500 | ) | (27,500 | ) |
Total comprehensive income | - | 2,387,921 | 2,387,921 |
Balance at 30 September 2023 | 4 | 12,818,216 | 12,818,220 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 October 2021 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 September 2022 |
Changes in equity |
Issue of share capital | - |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2023 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
as restated |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (241,731 | ) | 3,042,793 |
Interest paid | (28,550 | ) | - |
Tax paid | (4,282,503 | ) | (414,899 | ) |
Net cash from operating activities | (4,552,784 | ) | 2,627,894 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (61,260 | ) | (89,590 | ) |
Sale of fixed asset investments | 4,000,000 | - |
Interest received | 40,997 | 2,095 |
Net cash from investing activities | 3,979,737 | (87,495 | ) |
Cash flows from financing activities |
Amount withdrawn by directors | (5,673 | ) | 5,673 |
Share issue | 1 | - |
Equity dividends paid | (27,500 | ) | - |
Net cash from financing activities | (33,172 | ) | 5,673 |
(Decrease)/increase in cash and cash equivalents | (606,219 | ) | 2,546,072 |
Cash and cash equivalents at beginning of year |
2 |
5,904,673 |
3,358,601 |
Cash and cash equivalents at end of year | 2 | 5,298,454 | 5,904,673 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Profit before taxation | 2,812,368 | 1,438,472 |
Depreciation charges | 209,212 | 231,344 |
Profit on disposal of fixed assets | (165,824 | ) | - |
(Gain)/loss on revaluation of fixed assets | (76,726 | ) | 527,408 |
Finance costs | 28,550 | 806,864 |
Finance income | (40,997 | ) | (2,095 | ) |
2,766,583 | 3,001,993 |
Increase in stocks | (744 | ) | (1,531 | ) |
(Increase)/decrease in trade and other debtors | (3,724,902 | ) | 110,008 |
Increase/(decrease) in trade and other creditors | 717,332 | (67,677 | ) |
Cash generated from operations | (241,731 | ) | 3,042,793 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 September 2023 |
30.9.23 | 1.10.22 |
£ | £ |
Cash and cash equivalents | 5,298,454 | 5,904,673 |
Year ended 30 September 2022 |
30.9.22 | 1.10.21 |
as restated |
£ | £ |
Cash and cash equivalents | 5,904,673 | 3,358,601 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.10.22 | Cash flow | At 30.9.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 5,904,673 | (606,219 | ) | 5,298,454 |
5,904,673 | (606,219 | ) | 5,298,454 |
Total | 5,904,673 | (606,219 | ) | 5,298,454 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Barnby C H Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover 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 |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Wages and salaries | 8,836,118 | 8,192,650 |
Social security costs | 561,182 | 558,757 |
Other pension costs | 173,371 | 162,232 |
9,570,671 | 8,913,639 |
The average number of employees during the year was as follows: |
30.9.23 | 30.9.22 |
as restated |
Employees |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Director's remuneration | 328,562 | 312,400 |
Information regarding the highest paid director is as follows: |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Depreciation - owned assets | 209,211 | 231,345 |
Profit on disposal of fixed assets | (165,824 | ) | - |
Auditors' remuneration | 21,735 | 18,210 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Interest on overdue tax | 28,550 | 806,864 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Current tax: |
UK corporation tax | 462,698 | 551,664 |
Adjustment re prior year | 11,427 | 2,939,284 |
Total current tax | 474,125 | 3,490,948 |
Deferred tax | (49,678 | ) | (87,340 | ) |
Tax on profit | 424,447 | 3,403,608 |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Profit before tax | 2,812,368 | 1,438,472 |
Profit multiplied by the standard rate of corporation tax in the UK of 22.008 % (2022 - 19 %) |
618,946 |
273,310 |
Effects of: |
Expenses not deductible for tax purposes | 354 | 280,157 |
Capital allowances in excess of depreciation | - | (2,229 | ) |
Depreciation in excess of capital allowances | 9,337 | - |
Other adjustments | (7,645 | ) | (62,782 | ) |
Expenses disallowed in previous period now allowed | (207,972 | ) | - |
Provision for tax re Remuneration Trust | - | 2,915,152 |
Adjustment re previous year | 11,427 | - |
Total tax charge | 424,447 | 3,403,608 |
During the year, the group reached agreement with HM Revenue & Customs regarding the payments to a Remuneration Trust made by its subsidiary company, Dukeries Healthcare Ltd, which were the subject of a long running enquiry. Provision has been made for the corporation tax now arising together with the accrued interest in the accounts for the year ended 30.9.22 and the liability was settled in full in the year ended 30.9.23. |
7. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
8. | DIVIDENDS |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Ordinary A share of £1 |
Interim | 27,500 | - |
9. | PRIOR YEAR ADJUSTMENT |
The prior year adjustment relates to the reserves of Barnby Properties Ltd as at 30 September 2021. This company had not previously been included in the consolidation. |
10. | TANGIBLE FIXED ASSETS |
Group |
Improvements | Fixtures |
Long | to | Plant and | and |
leasehold | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2022 | 2,023,020 | 257,116 | 2,708,214 | 4,159,916 | 9,148,266 |
Additions | - | - | 1,038 | 60,222 | 61,260 |
At 30 September 2023 | 2,023,020 | 257,116 | 2,709,252 | 4,220,138 | 9,209,526 |
DEPRECIATION |
At 1 October 2022 | 121,380 | 203,916 | 2,266,386 | 3,897,607 | 6,489,289 |
Charge for year | 40,460 | 4,755 | 92,186 | 71,810 | 209,211 |
At 30 September 2023 | 161,840 | 208,671 | 2,358,572 | 3,969,417 | 6,698,500 |
NET BOOK VALUE |
At 30 September 2023 | 1,861,180 | 48,445 | 350,680 | 250,721 | 2,511,026 |
At 30 September 2022 | 1,901,640 | 53,200 | 441,828 | 262,309 | 2,658,977 |
Company |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 October 2022 |
and 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
11. | FIXED ASSET INVESTMENTS |
Group |
Unlisted |
investments |
£ |
COST OR VALUATION |
At 1 October 2022 | 6,182,247 |
Disposals | (3,834,176 | ) |
Revaluations | 22,722 |
Revaluations | 54,004 |
At 30 September 2023 | 2,424,797 |
NET BOOK VALUE |
At 30 September 2023 | 2,424,797 |
At 30 September 2022 | 6,182,247 |
The analysis of cost or valuation at 30 September 2023 shown below in respect of unlisted investments of the Company also applies to the Group. |
Company |
Shares in |
group | Unlisted |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2022 | 5,716,209 |
Disposals | ( |
) | (3,834,176 | ) |
Revaluations | 54,004 |
At 30 September 2023 | 1,936,037 |
NET BOOK VALUE |
At 30 September 2023 | 1,936,037 |
At 30 September 2022 | 5,716,209 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
11. | FIXED ASSET INVESTMENTS - continued |
Company |
Cost or valuation at 30 September 2023 is represented by: |
Shares in |
group | Unlisted |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2023 | - | (331,087 | ) | (331,087 | ) |
Valuation in 2022 | - | (489,573 | ) | (489,573 | ) |
Valuation in 2021 | - | 304,621 | 304,621 |
Valuation in 2020 | - | (83,948 | ) | (83,948 | ) |
Valuation in 2019 | - | 37,643 | 37,643 |
Valuation in 2018 | - | 151,519 | 151,519 |
Valuation in 2017 | - | 448,791 | 448,791 |
Valuation in 2016 | - | (38,615 | ) | (38,615 | ) |
Valuation in 2015 | - | 160,350 | 160,350 |
Valuation in 2014 | - | 83,317 | 83,317 |
Cost | 104 | 1,692,915 | 1,693,019 |
104 | 1,935,933 | 1,936,037 |
If investments had not been revalued they would have been included at the following historical cost: |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Cost | 1,692,915 | 5,142,000 |
Fixed asset investments were valued on an open market basis on 30 September 2023 by the investment managers . |
The following companies are wholly owned subsidiaries of the parent company and whose accounts are included in the consolidated accounts: |
Dukeries Healthcare Ltd |
Coaching Inns (North) Ltd |
Spa at Ye Olde Bell Ltd |
Barnby Properties Ltd |
For the year ended 30 September 2023, Barnby CH Ltd has provided a guarantee to Barnby Properties Ltd under Section 479C of the Companies Act 2006. For the year ended 30 September 2023, Barnby Properties Ltd is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary accounts. |
12. | STOCKS |
Group |
30.9.23 | 30.9.22 |
as restated |
£ | £ |
Stocks | 948,398 | 947,654 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
30.9.23 | 30.9.22 | 30.9.23 | 30.9.22 |
as restated | as restated |
£ | £ | £ | £ |
Trade debtors | 368,514 | 673,602 |
Amounts owed by group undertakings | - | - |
Other debtors | 5,941,047 | 1,911,427 |
Prepayments | 176,149 | 175,999 | - | - |
6,485,710 | 2,761,028 |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
30.9.23 | 30.9.22 | 30.9.23 | 30.9.22 |
as restated | as restated |
£ | £ | £ | £ |
Trade creditors | 278,140 | 333,326 |
Amounts owed to group undertakings | - | - |
Tax | 489,079 | 4,297,676 |
Social security and other taxes | 120,296 | 141,445 |
VAT | 155,750 | 167,347 | - | - |
Other creditors | 2,377,895 | 1,608,369 |
Amounts owed to related party | 709,875 | 715,677 | - | - |
Directors' current accounts | - | 5,673 | - | - |
Accruals | 542,785 | 501,245 |
4,673,820 | 7,770,758 |
15. | PROVISIONS FOR LIABILITIES |
Group | Company |
30.9.23 | 30.9.22 | 30.9.23 | 30.9.22 |
as restated | as restated |
£ | £ | £ | £ |
Deferred tax | 176,345 | 226,023 | 54,570 | 105,562 |
Group |
Deferred |
tax |
£ |
Balance at 1 October 2022 | 226,023 |
Provided during year | 5,428 |
Tax on investment revaluation | (88,452 | ) |
Increase in corp tax rate | 33,346 |
Balance at 30 September 2023 | 176,345 |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
15. | PROVISIONS FOR LIABILITIES - continued |
Company |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Provided during year | ( |
) |
Tax on investment revaluation | (48,325 | ) |
Balance at 30 September 2023 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | as restated |
£ | £ |
Ordinary | £1 | 3 | 3 |
Ordinary A | £1 | 1 | - |
4 | 3 |
1 Ordinary A share of £1 was allotted and fully paid for |
17. | RESERVES |
Group |
Retained |
earnings |
£ |
At 1 October 2022 | 10,457,795 |
Profit for the year | 2,387,921 |
Dividends | (27,500 | ) |
At 30 September 2023 | 12,818,216 |
Company |
Retained |
earnings |
£ |
At 1 October 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 September 2023 |
Reserves for both the company and the group include an amount of £182,264 (2022 - £465,025) in respect of the unrealised surplus on the revaluation of investments (less a provision for corporation tax) which is not distributable. |
BARNBY C H LIMITED (REGISTERED NUMBER: 07933646) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
18. | RELATED PARTY DISCLOSURES |
During the year, the group paid rent of £762,754 (2022: £762,754) to Mr A P Levack, a director. The amount owing at the period end was nil (2022: Nil). |
At the year end, the group was owed £2,489,159 by A P L Management Ltd, a company owned by Mr A P Levack. (2022 - the group owed £675,677 to A P L Management Ltd). |
Ar the year end the group was owed £1,190,749 (2022 - £1,190,749) by Barclay Care Ltd, a company owned by Mr A P Levack. |
At the year end, the company was owed £1,872,820 (2022 - £1,872,820) by Barclay Care Ltd and was also owed £4,000,000 (2022- Nil) by A P L Management Ltd. |