Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122232023-04-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07308637 2023-04-01 2024-03-31 07308637 2022-04-01 2023-03-31 07308637 2024-03-31 07308637 2023-03-31 07308637 2022-04-01 07308637 c:Director3 2023-04-01 2024-03-31 07308637 d:Buildings 2023-04-01 2024-03-31 07308637 d:Buildings 2024-03-31 07308637 d:Buildings 2023-03-31 07308637 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07308637 d:PlantMachinery 2023-04-01 2024-03-31 07308637 d:PlantMachinery 2024-03-31 07308637 d:PlantMachinery 2023-03-31 07308637 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07308637 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07308637 d:Goodwill 2024-03-31 07308637 d:Goodwill 2023-03-31 07308637 d:CurrentFinancialInstruments 2024-03-31 07308637 d:CurrentFinancialInstruments 2023-03-31 07308637 d:Non-currentFinancialInstruments 2024-03-31 07308637 d:Non-currentFinancialInstruments 2023-03-31 07308637 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07308637 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07308637 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07308637 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07308637 d:ShareCapital 2024-03-31 07308637 d:ShareCapital 2023-03-31 07308637 d:CapitalRedemptionReserve 2024-03-31 07308637 d:CapitalRedemptionReserve 2023-03-31 07308637 d:RevaluationReserve 2024-03-31 07308637 d:RevaluationReserve 2023-03-31 07308637 d:RetainedEarningsAccumulatedLosses 2024-03-31 07308637 d:RetainedEarningsAccumulatedLosses 2023-03-31 07308637 c:FRS102 2023-04-01 2024-03-31 07308637 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07308637 c:FullAccounts 2023-04-01 2024-03-31 07308637 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07308637 d:WithinOneYear 2024-03-31 07308637 d:WithinOneYear 2023-03-31 07308637 d:BetweenOneFiveYears 2024-03-31 07308637 d:BetweenOneFiveYears 2023-03-31 07308637 d:MoreThanFiveYears 2024-03-31 07308637 d:MoreThanFiveYears 2023-03-31 07308637 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07308637 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07308637 d:RetirementBenefitObligationsDeferredTax 2024-03-31 07308637 d:RetirementBenefitObligationsDeferredTax 2023-03-31 07308637 d:OtherDeferredTax 2024-03-31 07308637 d:OtherDeferredTax 2023-03-31 07308637 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 07308637 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07308637










BARRONS OF CHESTERFIELD LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
BARRONS OF CHESTERFIELD LTD
REGISTERED NUMBER:07308637

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
16,973
52,170

Tangible assets
 6 
922,711
967,262

  
939,684
1,019,432

Current assets
  

Stocks
  
101,443
111,236

Debtors: amounts falling due within one year
 7 
48,300
20,748

Cash at bank and in hand
  
195,013
106,701

  
344,756
238,685

Creditors: amounts falling due within one year
 8 
(492,723)
(436,984)

Net current liabilities
  
 
 
(147,967)
 
 
(198,299)

Total assets less current liabilities
  
791,717
821,133

Creditors: amounts falling due after more than one year
 9 
(223,098)
(288,118)

Provisions for liabilities
  

Deferred tax
 10 
(84,243)
(88,783)

Net assets
  
484,376
444,232


Capital and reserves
  

Called up share capital 
  
50
50

Revaluation reserve
  
262,504
269,156

Capital redemption reserve
  
50
50

Profit and loss account
  
221,772
174,976

  
484,376
444,232


Page 1

 
BARRONS OF CHESTERFIELD LTD
REGISTERED NUMBER:07308637
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 November 2024.




B S Holmes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Barrons of Chesterfield Ltd is a private company limited by shares, incorporated in England and Wales (registered number: 07308637). Its registered office is Spar Store, Newbold Road, Chesterfield, Derbyshire, S41 7PY. The principal activity of the Company throughout the year was that of operating and running general Spar convenience stores.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the
contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings
when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The
assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.6

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life of 10 years.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets, excluding freehold property, under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Critical accounting judgments and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Valuation of freehold property
As described in note 7 to the financial statements, freehold property is stated at fair value based on the valuation performed by the Directors.


4.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 22).

Page 6

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
585,178



At 31 March 2024

585,178



Amortisation


At 1 April 2023
533,008


Charge for the year on owned assets
35,197



At 31 March 2024

568,205



Net book value



At 31 March 2024
16,973



At 31 March 2023
52,170



Page 7

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
800,000
563,014
1,363,014


Additions
-
6,525
6,525



At 31 March 2024

800,000
569,539
1,369,539



Depreciation


At 1 April 2023
64,000
331,752
395,752


Charge for the year on owned assets
16,000
35,076
51,076



At 31 March 2024

80,000
366,828
446,828



Net book value



At 31 March 2024
720,000
202,711
922,711



At 31 March 2023
736,000
231,262
967,262

The whole of the Company's freehold property, which has a historical cost of £467,423, was revalued on 31 March 2019 at £800,000 on an open market existing use basis by the Directors.

Page 8

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
34,729
9,515

Other debtors
13,571
11,233

48,300
20,748



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
23,140

Other loans
168,263
128,263

Trade creditors
99,568
95,349

Corporation tax
50,307
27,946

Other taxation and social security
15,653
14,040

Other creditors
158,932
148,246

492,723
436,984


Included within creditors due within one year are secured debts totalling £0 (2023: £23,140).


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
179,096

Other loans
179,681
57,944

Other creditors
43,417
51,078

223,098
288,118


Included within creditors falling due after more than one year are secured debts totalling £0 (2023: £179,096).

Page 9

 
BARRONS OF CHESTERFIELD LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(88,783)
(82,123)


Charged to profit or loss
4,540
(6,660)



At end of year
(84,243)
(88,783)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
35,831
40,349

Pension surplus
(99)
(78)

Capital gain on revaluation surplus
48,511
48,512

84,243
88,783


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,764 (2023: £3,824).
Contributions totalling £395 (2023: £309) were payable to the fund at the Balance Sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
41,122
41,122

Later than 1 year and not later than 5 years
164,488
164,488

Later than 5 years
259,561
300,683

465,171
506,293

 
Page 10