2023-06-01 SC083305 2024-05-31 SC083305 2023-06-01 2024-05-31 SC083305 2023-05-31 SC083305 2022-06-01 2023-05-31 SC083305 uk-core:WithinOneYear 2023-05-31 SC083305 uk-core:WithinOneYear 2024-05-31 SC083305 uk-core:ShareCapital 2024-05-31 SC083305 uk-core:ShareCapital 2023-05-31 SC083305 uk-core:RevaluationReserve 2024-05-31 SC083305 uk-core:RevaluationReserve 2023-05-31 SC083305 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC083305 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC083305 uk-bus:Director1 2023-06-01 2024-05-31 SC083305 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 SC083305 uk-core:FurnitureFittingsToolsEquipment 2023-05-31 SC083305 uk-core:LandBuildings 2023-05-31 SC083305 uk-core:LandBuildings 2023-06-01 2024-05-31 SC083305 uk-core:LandBuildings 2024-05-31 SC083305 uk-core:FurnitureFittingsToolsEquipment 2024-05-31 iso4217:GBP xbrli:pure SC083305 uk-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC083305 uk-bus:FRS102 2023-06-01 2024-05-31 SC083305 uk-bus:FilletedAccounts 2023-06-01 2024-05-31 SC083305 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31
Barn Properties Limited
Registered Number:SC083305
For the year ended 31 May 2024
Scotland
Unaudited Financial Statements
2
For the year ended 31 May 2024
Barn Properties Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
SC083305
As at 31 May 2024
Barn Properties Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
863,590
882,332
2
863,590
882,332
Current assets
Trade and other receivables
3,610
11,402
3
16,731
Cash and cash equivalents
101,363
112,765
20,341
Trade and other payables: amounts falling due within one year
(89,438)
(140,056)
4
(69,097)
(27,291)
Net current liabilities
Total assets less current liabilities
836,299
813,235
836,299
Net assets
813,235
Capital and reserves
Called up share capital
100
100
Revaluation reserve
91,704
91,704
5
Retained earnings
744,495
721,431
836,299
813,235
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
D A Barn Director
These financial statements were approved and authorised for issue by the Board on 16 October 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
Barn Properties Limited
Notes to the Financial Statements
Statutory Information
Barn Properties Limited is a private limited company, limited by shares, domiciled in Scotland, registration number SC083305.
Registered address:
Melville House
Monimail
Cupar
Fife
KY15 7RJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises rental income from domestic and commercial properties.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
10% Reducing balance
Fixtures and fittings
Several of the company's freehold properties were professionally valued in 1988.
No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are
sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors
undertake an annual impairment review of these properties.
2. Property, plant and equipment
Total
Fixtures and
fittings
Land and
buildings
£
£
£
Cost or valuation
At 01 June 2023
901,078
19,350
881,728
-
(18,682)
Disposals
(18,682)
At 31 May 2024
863,046
19,350
882,396
Provision for depreciation and impairment
At 01 June 2023
18,746
18,746
-
Charge for year
60
60
-
At 31 May 2024
18,806
18,806
-
At 31 May 2024
Net book value
863,046
544
863,590
At 31 May 2023
881,728
604
882,332
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5
For the year ended 31 May 2024
Barn Properties Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2023
2024
£
£
Other debtors
11,402
3,610
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Taxation and social security
24,683
29,545
Other creditors
115,373
59,893
140,056
89,438
5. Reserves
Total
£
Revaluation reserve at 01 June 2023
91,704
91,704
Revaluation reserve at 31 May 2024
6. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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