REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
ADDERS (BARROW) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
ADDERS (BARROW) LIMITED |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ADDERS (BARROW) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
186-188 Dalton Road |
Barrow-in-Furness |
Cumbria |
LA14 1PR |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
ABRIDGED BALANCE SHEET |
31 OCTOBER 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
ABRIDGED BALANCE SHEET - continued |
31 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Adders (Barrow) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis the directors having agreed to continue to support the company. |
Turnover |
Turnover represents net invoiced sales of goods, excluding VAT. |
Goodwill |
Goodwill being the amount purchased in 2019 for £1 has been included as it's cost value. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at cost which is a departure from Financial Reporting Standard 102. |
Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 the Companies Act 2006. Depreciation if provided would not have been of a material nature. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
The net book value of tangible fixed assets includes £4,348 (2022: £8,697) in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £4,349 (2022 : £4,349) for the financial year. |
6. | INVESTMENT PROPERTY |
Total |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
All of the company's investment properties are held for long-term investment and are included in the Balance Sheet at cost which is a departure from Financial Reporting Standard 102. |
Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 the Companies Act 2006. Depreciation if provided would not have been of a material nature. |
ADDERS (BARROW) LIMITED (REGISTERED NUMBER: 11607214) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.10.23 | 31.10.22 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 22,390 | 112,393 |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.23 | 31.10.22 |
£ | £ |
Hire purchase contracts | 7,908 | 11,740 |
Together Commercial Finance | 131,661 | 184,173 |
Together Commercial Finance Limited hold both a fixed and floating charge over Smithy House, Roose Road, Barrow in Furness. The floating charge covers all the property or undertaking of the company and includes a negative pledge. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RELATED PARTY DISCLOSURES |
At the 31st October 2023, Mrs Sarah Addenbrook had an unsecured interest free basis advance of £203,654 (2022: £227,296) to the company. Including £200,000 (2022: £200,000) on a long term basis. |
Rent income of £12,000 (2022: £12,000) was received by the company from Mrs S Addenbrook, who is both a director and shareholder. The rent charged monthly is an arms length transaction and it is similar to the market price of rental properties in the area. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs S J and Mr C A Addenbrook. |