Registered Number:SC083305 |
For the year ended 31 May 2024
Scotland
Unaudited Financial Statements
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
Barn Properties Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
863,590
882,332
2
863,590
882,332
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
100
100
91,704
91,704
5
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. |
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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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. |
Melville House
Monimail
Cupar
Fife
KY15 7RJ
The presentation currency is £ sterling. |
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: |
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 |
901,078
19,350
881,728
-
(18,682)
(18,682)
863,046
19,350
882,396
Provision for depreciation and impairment |
18,746
18,746
-
Charge for year
60
60
-
18,806
18,806
-
863,046
544
863,590
881,728
604
882,332
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For the year ended 31 May 2024
Barn Properties Limited
Notes to the Financial Statements Continued
3. Trade and other receivables |
2023
2024
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
115,373
59,893
140,056
89,438
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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