REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Barons Keep Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Barons Keep Limited |
Barons Keep Limited (Registered number: 02609358) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Barons Keep Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
30-34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
Barons Keep Limited (Registered number: 02609358) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 on the Board of Directors and authorised for issue on |
Barons Keep Limited (Registered number: 02609358) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Barons Keep Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has taken advantage of the exemption in Financial Reporting Standard no 1 from producing a cash flow statement on the grounds that it is a small company. |
Tangible fixed assets |
The freehold consists solely of the freehold of Barons Keep. It is capitalised at the cost of acquisition and attributable costs less the proportionate cost of the leases sold. No depreciation is charged on the cost of the freehold land and buildings as in the opinion of the directors it would not be material. |
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. |
Corporation tax |
The company has agreed with the Inland Revenue a special basis of taxation on the surplus arising on the sale of new leases to existing flats. Taxation is payable on gross sales proceeds. |
Turnover |
Turnover represents ground rents receivable from the lessees of Barons Keep and ground rents from garages receivable from the owners. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Barons Keep Limited (Registered number: 02609358) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
as restated |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
as restated |
£ | £ |
Trade creditors |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | COMMITMENTS |
Financial commitments at 31 December for which no provision has been made in these accounts were as follows: |
2023 | 2022 |
Authorised and contracted | £60,264 | £60,264 |
Authorised but not contracted | £nil | £nil |
===== | ===== |
There were no Capital Commitments at 31 December 2023. |
9. | RELATED PARTY TRANSACTIONS |
Each director of the company is a lessee of a flat at Barons Keep and pays ground rent to the company. |
Barons Keep Limited (Registered number: 02609358) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | SERVICE CHARGE AND RESERVE FUND |
Separate service charge and reserve fund accounts to 24 December each year are prepared and issued to tenants. |
The service charge accounts to 24 December 2023 showed the following: |
2023 | 2022 |
Income | £802,488 | £590,343 |
Expenditure | (724,659 | ) | (599,000 | ) |
Surplus transferred from/(to) reserve fund | (77,829 | ) | 8,657 |
£ - | £ - |
======== | ======= |
The reserve fund accounts to 24 December 2023 showed net assets as follows: |
2023 | 2022 |
Reserve Fund | £255,093 | £371,404 |
======= | ======= |
11. | SHARE CAPITAL |
At 31 December 2023 |
Number | Value |
Allotted and fully paid |
'A' ordinary shares of £1 each | 119 | £119 |
'B' ordinary shares of 5p each | 2,144 | £107 |
===== |
£226 |
===== |
During the year to 31 December 2023 two 'A' ordinary share of £1.00 each and 112 'B' ordinary shares of 5 pence each were issued on the sale of two new long leases. |