The Barn Exmouth Ltd 09865001 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of rental holiday accommodation. Digita Accounts Production Advanced 6.30.9574.0 true 09865001 2023-04-01 2024-03-31 09865001 2024-03-31 09865001 core:RetainedEarningsAccumulatedLosses 2024-03-31 09865001 core:ShareCapital 2024-03-31 09865001 core:CurrentFinancialInstruments 2024-03-31 09865001 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09865001 core:FurnitureFittingsToolsEquipment 2024-03-31 09865001 core:LandBuildings 2024-03-31 09865001 bus:SmallEntities 2023-04-01 2024-03-31 09865001 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09865001 bus:FullAccounts 2023-04-01 2024-03-31 09865001 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09865001 bus:RegisteredOffice 2023-04-01 2024-03-31 09865001 bus:Director1 2023-04-01 2024-03-31 09865001 bus:Director2 2023-04-01 2024-03-31 09865001 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09865001 core:Buildings 2023-04-01 2024-03-31 09865001 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09865001 core:LandBuildings 2023-04-01 2024-03-31 09865001 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09865001 countries:AllCountries 2023-04-01 2024-03-31 09865001 2023-03-31 09865001 core:FurnitureFittingsToolsEquipment 2023-03-31 09865001 core:LandBuildings 2023-03-31 09865001 2021-12-01 2023-03-31 09865001 2023-03-31 09865001 core:RetainedEarningsAccumulatedLosses 2023-03-31 09865001 core:ShareCapital 2023-03-31 09865001 core:CurrentFinancialInstruments 2023-03-31 09865001 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09865001 core:FurnitureFittingsToolsEquipment 2023-03-31 09865001 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09865001

The Barn Exmouth Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Company Information

Directors

Mr Eric John Bridge

Stephanie Mary Bridge

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

310,305

314,559

Current assets

 

Debtors

5

2,151

2,375

Cash at bank and in hand

 

68,795

49,692

 

70,946

52,067

Creditors: Amounts falling due within one year

6

(121,385)

(264,523)

Net current liabilities

 

(50,439)

(212,456)

Total assets less current liabilities

 

259,866

102,103

Provisions for liabilities

(1,427)

(2,852)

Net assets

 

258,439

99,251

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

258,339

99,151

Total equity

 

258,439

99,251

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................
Mr Eric John Bridge
Director

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

2% Straight Line method

Plant & Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

304,597

77,307

381,904

Additions

4,824

1,371

6,195

At 31 March 2024

309,421

78,678

388,099

Depreciation

At 1 April 2023

6,092

61,253

67,345

Charge for the year

6,092

4,357

10,449

At 31 March 2024

12,184

65,610

77,794

Carrying amount

At 31 March 2024

297,237

13,068

310,305

At 31 March 2023

298,505

16,054

314,559

Included within the net book value of land and buildings above is £297,237 (2023 - £298,505) in respect of freehold land and buildings.
 

 

The Barn Exmouth Ltd
(Registration number: 09865001)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

2024
£

2023
£

Other debtors

-

500

Prepayments and accrued income

2,151

1,875

Total current trade and other debtors

2,151

2,375

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

1,560

3,902

Taxation and social security

7,809

43,165

Other creditors

39,006

133,489

Accrued expenses

1,750

1,750

Deferred income

71,260

82,217

121,385

264,523

Exceptional Items

The company has had intercompany balances written off of £142,500 in the period.