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REGISTERED NUMBER: 00670476 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BARNSTAPLE STRAND INVESTMENTS LIMITED

BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 328 437
Investment property 5 2,385,939 1,480,278
2,386,267 1,480,715

CURRENT ASSETS
Debtors 6 96,653 140,262
Cash at bank and in hand 57,548 67,516
154,201 207,778
CREDITORS
Amounts falling due within one year 7 14,601 35,332
NET CURRENT ASSETS 139,600 172,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,525,867

1,653,161

CREDITORS
Amounts falling due after more than one
year

8

(1,287,730

)

(403,496

)

PROVISIONS FOR LIABILITIES 10 (109,896 ) (109,917 )
NET ASSETS 1,128,241 1,139,748

CAPITAL AND RESERVES
Called up share capital 11 21,004 21,004
Fair value reserve 12 590,035 590,035
Retained earnings 12 517,202 528,709
SHAREHOLDERS' FUNDS 1,128,241 1,139,748

BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director and authorised for issue on 9 October 2024 and were signed by:





Mrs J H Gay - Director


BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Barnstaple Strand Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00670476

Registered office: The Farmhouse
Coxleigh Barton
Shirwell
BARNSTAPLE
EX31 4JL

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 14,143
DEPRECIATION
At 1 April 2023 13,706
Charge for year 109
At 31 March 2024 13,815
NET BOOK VALUE
At 31 March 2024 328
At 31 March 2023 437

BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,480,278
Additions 905,661
At 31 March 2024 2,385,939
NET BOOK VALUE
At 31 March 2024 2,385,939
At 31 March 2023 1,480,278

The original Freehold Investment Property (Original cost £60,773) was revalued at £750,000 by Phillips, Smith & Dunn Surveyors, in May 2013. The directors do not consider there to have been any change in value since that date.

Further Freehold Investment Properties were purchased in 2020, costing £307,760 and £422,518 respectively, and in 2023, costing £670,710 and £234,951.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 707 262
Other debtors 95,946 140,000
96,653 140,262

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,135 24,155
Taxation and social security 186 7,595
Other creditors 8,280 3,582
14,601 35,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 1,287,730 403,496

BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 1,293,865 427,651

Charges dated 27 February 2020 and 12 May 2023, and a debenture charge dated 29 November 2019 exists between Lloyds Bank Plc and the company over its assets.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 109,896 109,917

Deferred
tax
£   
Balance at 1 April 2023 109,917
Provided during year (21 )
Balance at 31 March 2024 109,896

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
21,000 Ordinary £1 21,000 21,000
1 Ordinary A - Non-equity £1 1 1
1 Ordinary B - Non-equity £1 1 1
1 Ordinary C - Non-equity £1 1 1
1 Ordinary D - Non-equity £1 1 1
21,004 21,004

BARNSTAPLE STRAND INVESTMENTS LIMITED (REGISTERED NUMBER: 00670476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 528,709 590,035 1,118,744
Profit for the year 646 646
Dividends (12,153 ) (12,153 )
At 31 March 2024 517,202 590,035 1,107,237

13. RELATED PARTY DISCLOSURES

The company paid letting agent fees of £20,425 (last year £11,394) to a company in which a director is the husband of Mrs J H Gay (director).

All payments are considered to be on commercial terms.