Brecon Cathedral Tithebarn Company Limited 03014602 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the provision of a restaurant, gift shop and an exhibition centre in Brecon Cathedral Close. Digita Accounts Production Advanced 6.30.9574.0 Software true true 03014602 2023-03-01 2024-02-29 03014602 2024-02-29 03014602 core:RetainedEarningsAccumulatedLosses 2024-02-29 03014602 core:CurrentFinancialInstruments 2024-02-29 03014602 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 03014602 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 03014602 core:FurnitureFittingsToolsEquipment 2024-02-29 03014602 core:LandBuildings 2024-02-29 03014602 bus:SmallEntities 2023-03-01 2024-02-29 03014602 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03014602 bus:FullAccounts 2023-03-01 2024-02-29 03014602 bus:RegisteredOffice 2023-03-01 2024-02-29 03014602 bus:Director17 2023-03-01 2024-02-29 03014602 bus:Director18 2023-03-01 2024-02-29 03014602 bus:Director4 2023-03-01 2024-02-29 03014602 bus:Director5 2023-03-01 2024-02-29 03014602 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03014602 core:Buildings 2023-03-01 2024-02-29 03014602 core:FurnitureFittings 2023-03-01 2024-02-29 03014602 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 03014602 core:LandBuildings 2023-03-01 2024-02-29 03014602 countries:AllCountries 2023-03-01 2024-02-29 03014602 2023-02-28 03014602 core:FurnitureFittingsToolsEquipment 2023-02-28 03014602 core:LandBuildings 2023-02-28 03014602 2022-03-01 2023-02-28 03014602 2023-02-28 03014602 core:RetainedEarningsAccumulatedLosses 2023-02-28 03014602 core:CurrentFinancialInstruments 2023-02-28 03014602 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03014602 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 03014602 core:FurnitureFittingsToolsEquipment 2023-02-28 03014602 core:LandBuildings 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 03014602

Brecon Cathedral Tithebarn Company Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 29 February 2024

 

Brecon Cathedral Tithebarn Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Brecon Cathedral Tithebarn Company Limited

Company Information

Directors

Very Revd Dr P Shackerley

The Ven A N Jevons

The Revd Canon P Brooks

The Revd Canon H Lervy

Registered office

Cathedral Office
Cathedral Close
Brecon
Powys
LD3 9DP

 

Accountants

WJ James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Brecon Cathedral Tithebarn Company Limited

(Registration number: 03014602)

Balance Sheet
as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

259,446

271,695

Current assets

 

Stocks

11,086

11,086

Debtors

5

14,066

4,207

Cash at bank and in hand

 

1,174

9,363

 

26,326

24,656

Creditors: Amounts falling due within one year

6

(14,917)

(14,337)

Net current assets

 

11,409

10,319

Total assets less current liabilities

 

270,855

282,014

Creditors: Amounts falling due after more than one year

6

(280,526)

(293,114)

Net liabilities

 

(9,671)

(11,100)

Capital and reserves

 

Profit and loss account

(9,671)

(11,100)

Total equity

 

(9,671)

(11,100)

For the financial year ending 29 February 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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

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.

 

Brecon Cathedral Tithebarn Company Limited

(Registration number: 03014602)

Balance Sheet
as at 29 February 2024

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

.........................................

Very Revd Dr P Shackerley

Director

 

Brecon Cathedral Tithebarn Company Limited

Notes to the Financial Statements
for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Cathedral Office
Cathedral Close
Brecon
Powys
LD3 9DP
Wales

These financial statements were authorised for issue by the Board on 4 November 2024.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.even though there is a net deficit on the balance sheet at 29 February 2024, as the directors consider the company will continue to be able to meet it's liabilities as they fall due.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods and services to customers, and donations towards the Heritage Centre, excluding Value Added Tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Brecon Cathedral Tithebarn Company Limited

Notes to the Financial Statements
for the Year Ended 29 February 2024

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

Leasehold property

2% on cost

Fixtures and fittings

20% on 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

 

Brecon Cathedral Tithebarn Company Limited

Notes to the Financial Statements
for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

568,845

123,546

692,391

At 29 February 2024

568,845

123,546

692,391

Depreciation

At 1 March 2023

301,511

119,185

420,696

Charge for the year

11,377

872

12,249

At 29 February 2024

312,888

120,057

432,945

Carrying amount

At 29 February 2024

255,957

3,489

259,446

At 28 February 2023

267,334

4,361

271,695

Included within the net book value of land and buildings above is £255,957 (2023 - £267,334) in respect of long leasehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

14,066

4,207

14,066

4,207

 

Brecon Cathedral Tithebarn Company Limited

Notes to the Financial Statements
for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,330

1,750

Accruals and deferred income

12,588

12,588

Other creditors

(1)

(1)

14,917

14,337

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Deferred income

280,526

293,114