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Registered number: 06802421
Barley Manor Properties Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Steiner & Co.
50 Cowick Street
Exeter
Devon
EX4 1AP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06802421
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,015 12,025
Investment Properties 5 30,000 30,000
39,015 42,025
CURRENT ASSETS
Stocks 6 22,043 17,132
Debtors 7 110,311 86,273
Cash at bank and in hand 175,370 209,284
307,724 312,689
Creditors: Amounts Falling Due Within One Year 8 (70,710 ) (83,557 )
NET CURRENT ASSETS (LIABILITIES) 237,014 229,132
TOTAL ASSETS LESS CURRENT LIABILITIES 276,029 271,157
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,510 ) (5,510 )
NET ASSETS 270,519 265,647
CAPITAL AND RESERVES
Called up share capital 9 120 120
Fair value reserve 11 23,490 23,490
Profit and Loss Account 246,909 242,037
SHAREHOLDERS' FUNDS 270,519 265,647
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Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Hardy
Director
20th November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Barley Manor Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06802421 . The registered office is 50 Cowick Street, St Thomas, Exeter, Devon, EX4 1AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 1,429 20,777 22,206
As at 31 January 2024 1,429 20,777 22,206
Depreciation
As at 1 February 2023 1,094 9,087 10,181
Provided during the period 85 2,925 3,010
As at 31 January 2024 1,179 12,012 13,191
Net Book Value
As at 31 January 2024 250 8,765 9,015
As at 1 February 2023 335 11,690 12,025
5. Investment Property
2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 30,000
6. Stocks
2024 2023
£ £
Work in progress 22,043 17,132
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,975 1,414
Emmanuel Court Exeter Management Company Limited - (240 )
Other taxes and social security - 2,474
Directors' loan accounts 79,504 61,776
83,479 65,424
Due after more than one year
Corporation tax recoverable assets 26,832 20,849
110,311 86,273
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,261 2,400
Corporation tax 12,834 20,849
Other taxes and social security 543 -
VAT 4,987 5,428
Hardy Lester loan 10,000 10,000
Bounce Back Loan (BBL) 35,185 40,741
Barclaycard credit card (100 ) 1,139
Accruals and deferred income 3,000 3,000
70,710 83,557
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Richard Hardy 30,888 33,672 24,808 - 39,752
Mrs Leah Hardy 30,888 33,672 24,808 - 39,752
The above loans are unsecured interest-bearing at the official rate and repayable on demand. 
Dividends paid to directors
2024 2023
£ £
Mr Richard Hardy 29,000 21,000
Mrs Leah Hardy 3,000 2,000
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11. Reserves
Fair Value Reserve
£
As at 1 February 2023 23,490
As at 31 January 2024 23,490
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