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Company No: 04289101 (England and Wales)

BARLONDON LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

BARLONDON LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

BARLONDON LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
BARLONDON LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,363 1,618
Investment property 4 2,200,000 2,200,000
2,201,363 2,201,618
Current assets
Cash at bank and in hand 5 86,773 81,745
86,773 81,745
Creditors: amounts falling due within one year 6 ( 239,073) ( 208,111)
Net current liabilities (152,300) (126,366)
Total assets less current liabilities 2,049,063 2,075,252
Creditors: amounts falling due after more than one year 7 ( 316,975) ( 363,795)
Net assets 1,732,088 1,711,457
Capital and reserves
Called-up share capital 8 2 2
Revaluation reserve 1,135,626 1,135,626
Profit and loss account 596,460 575,829
Total shareholders' funds 1,732,088 1,711,457

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Barlondon Ltd (registered number: 04289101) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A Baruch
Director

25 September 2024

BARLONDON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
BARLONDON LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Barlondon Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 October 2022 9,429 2,961 12,390
At 30 September 2023 9,429 2,961 12,390
Accumulated depreciation
At 01 October 2022 7,880 2,892 10,772
Charge for the financial year 232 23 255
At 30 September 2023 8,112 2,915 11,027
Net book value
At 30 September 2023 1,317 46 1,363
At 30 September 2022 1,549 69 1,618

4. Investment property

Investment property
£
Valuation
As at 01 October 2022 2,200,000
As at 30 September 2023 2,200,000

Valuation

The 2023 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 1,064,374 1,064,374

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 86,773 81,745

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 46,000 45,100
Taxation and social security 22,450 13,861
Other creditors 170,623 149,150
239,073 208,111

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 316,975 363,795

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 A Ordinary share of £ 1.00 1 1
1 Ordinary share of £ 1.00 1 1
2 2