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REGISTERED NUMBER: 01500958 (England and Wales)












Financial Statements

for the Year Ended 31 May 2024

for

Wallbarn Limited

Wallbarn Limited (Registered number: 01500958)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wallbarn Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A F Thurbin
J R Thurbin





SECRETARY: J R Thurbin





REGISTERED OFFICE: 3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF





REGISTERED NUMBER: 01500958 (England and Wales)





ACCOUNTANTS: Cox & Co Limited
Chartered Certified Accountants
3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF

Wallbarn Limited (Registered number: 01500958)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,271 3,504

CURRENT ASSETS
Stocks 750,948 600,948
Debtors 5 447,968 532,647
Prepayments and accrued income 48,543 41,191
Cash at bank and in hand 148,366 118,622
1,395,825 1,293,408
CREDITORS
Amounts falling due within one year 6 1,039,598 992,818
NET CURRENT ASSETS 356,227 300,590
TOTAL ASSETS LESS CURRENT LIABILITIES 371,498 304,094

CREDITORS
Amounts falling due after more than one year 7 (18,215 ) (28,270 )

PROVISIONS FOR LIABILITIES (3,763 ) -
NET ASSETS 349,520 275,824

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 348,520 274,824
SHAREHOLDERS' FUNDS 349,520 275,824

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

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 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




A F Thurbin - Director


Wallbarn Limited (Registered number: 01500958)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Wallbarn Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 - 20% on reducing balance
Computer equipment - 33.33% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2023 - 14 ) .

Wallbarn Limited (Registered number: 01500958)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 17,465 26,510 28,365 72,340
Additions 12,500 - - 12,500
At 31 May 2024 29,965 26,510 28,365 84,840
DEPRECIATION
At 1 June 2023 16,590 23,881 28,365 68,836
Charge for year 174 559 - 733
At 31 May 2024 16,764 24,440 28,365 69,569
NET BOOK VALUE
At 31 May 2024 13,201 2,070 - 15,271
At 31 May 2023 875 2,629 - 3,504

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 398,460 417,626
Other debtors 49,508 48,558
Deferred tax asset - 66,463
447,968 532,647

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,056 9,808
Trade creditors 707,397 589,935
Amounts owed to group undertakings 108,302 194,505
Social security and other taxes 16,021 8,902
VAT 85,663 127,237
Other creditors 69,698 25,542
Directors' current accounts 42,461 36,889
1,039,598 992,818

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 10,311 10,056
Bank loans - 2-5 years 7,904 18,214
18,215 28,270

8. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Wallbarn Investments Limited which is registered in England & Wales under company number 07057977. The company is effectively controlled by its directors.