Barton Homes Limited 04318892 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is deriving income and gains from property. Digita Accounts Production Advanced 6.30.9574.0 true 04318892 2023-04-01 2024-03-31 04318892 2024-03-31 04318892 bus:OrdinaryShareClass1 2024-03-31 04318892 bus:PreferenceShareClass1 2024-03-31 04318892 bus:PreferenceShareClass2 2024-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2024-03-31 04318892 core:RevaluationReserve 2024-03-31 04318892 core:ShareCapital 2024-03-31 04318892 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04318892 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04318892 core:FurnitureFittings 2024-03-31 04318892 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 04318892 core:MotorVehicles 2024-03-31 04318892 bus:SmallEntities 2023-04-01 2024-03-31 04318892 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04318892 bus:FullAccounts 2023-04-01 2024-03-31 04318892 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04318892 bus:Director2 2023-04-01 2024-03-31 04318892 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 04318892 bus:PreferenceShareClass1 2023-04-01 2024-03-31 04318892 bus:PreferenceShareClass2 2023-04-01 2024-03-31 04318892 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04318892 core:RevaluationReserve 2023-04-01 2024-03-31 04318892 core:ShareCapital 2023-04-01 2024-03-31 04318892 core:FurnitureFittings 2023-04-01 2024-03-31 04318892 core:InvestmentPropertyIncludedWithinPPE 2023-04-01 2024-03-31 04318892 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04318892 core:MotorVehicles 2023-04-01 2024-03-31 04318892 countries:AllCountries 2023-04-01 2024-03-31 04318892 2023-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2023-03-31 04318892 core:RevaluationReserve 2023-03-31 04318892 core:ShareCapital 2023-03-31 04318892 core:FurnitureFittings 2023-03-31 04318892 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04318892 core:MotorVehicles 2023-03-31 04318892 2022-04-01 2023-03-31 04318892 2023-03-31 04318892 bus:OrdinaryShareClass1 2023-03-31 04318892 bus:PreferenceShareClass1 2023-03-31 04318892 bus:PreferenceShareClass2 2023-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2023-03-31 04318892 core:RevaluationReserve 2023-03-31 04318892 core:ShareCapital 2023-03-31 04318892 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04318892 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04318892 core:FurnitureFittings 2023-03-31 04318892 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 04318892 core:MotorVehicles 2023-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04318892 core:RevaluationReserve 2022-04-01 2023-03-31 04318892 core:ShareCapital 2022-04-01 2023-03-31 04318892 2022-03-31 04318892 core:RetainedEarningsAccumulatedLosses 2022-03-31 04318892 core:RevaluationReserve 2022-03-31 04318892 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04318892



Barton Homes Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Barton Homes Limited

(Registration number: 04318892)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

7,634,930

7,451,959

Current assets

 

Debtors

4

3,840

8,574

Cash at bank and in hand

 

132,657

61,416

 

136,497

69,990

Creditors: Amounts falling due within one year

5

(86,195)

(51,005)

Net current assets

 

50,302

18,985

Total assets less current liabilities

 

7,685,232

7,470,944

Creditors: Amounts falling due after more than one year

5

(6,582,433)

(6,526,958)

Provisions for liabilities

(4,208)

(4,208)

Net assets

 

1,098,591

939,778

Capital and reserves

 

Called up share capital

7

100

100

Fair value reserve

333,509

334,519

Profit and loss account

764,982

605,159

Shareholders' funds

 

1,098,591

939,778

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 Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 9 October 2024 and signed on its behalf by:
 

 

Barton Homes Limited

(Registration number: 04318892)

Balance Sheet as at 31 March 2024 (continued)

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

S A Barton
Director

 

Barton Homes Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Fair value reserve
£

Profit and loss account
£

Total
£

At 1 April 2023

100

334,519

605,159

939,778

Profit for the year

-

-

158,813

158,813

Deferred tax on revaluation

-

(1,010)

1,010

-

Total comprehensive income

-

(1,010)

159,823

158,813

At 31 March 2024

100

333,509

764,982

1,098,591

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 April 2022

100

334,519

532,394

867,013

Profit for the year

-

-

72,765

72,765

Total comprehensive income

-

-

72,765

72,765

At 31 March 2023

100

334,519

605,159

939,778

 

Barton Homes Limited

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

1

Accounting policies

Statutory information

Barton Homes Limited is a private company, limited by shares, domiciled in England and Wales, company number 04318892. The registered office is at 367 Fulwood Road, Sheffield, S10 3BS.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents rents received.

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

Investment properties

Not depreciated

Fixtures and fittings

25% straight line

Motor vehicles

25% straight line

Investment property

Investment properties are initially recognised at purchase price plus any directly attributable costs. Measurement after initial recognition should be at fair value if that value can be measured reliably without undue cost or effort. Changes in fair value are recognised in the accumulated profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

 

Barton Homes Limited

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

2

Staff numbers

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

3

Tangible assets

Investment
Property
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

7,428,615

8,035

24,900

7,461,550

Additions

189,196

-

-

189,196

At 31 March 2024

7,617,811

8,035

24,900

7,650,746

Depreciation

At 1 April 2023

-

8,035

1,556

9,591

Charge for the year

-

-

6,225

6,225

At 31 March 2024

-

8,035

7,781

15,816

Carrying amount

At 31 March 2024

7,617,811

-

17,119

7,634,930

At 31 March 2023

7,428,615

-

23,344

7,451,959

The fair value of the company's investment properties was revalued on 31 March 2024. An independent valuer was not involved. This class of assets has a current value of £7,617,811 (2023: £7,428,615). Had this class of asset been measured on a historical cost basis, the carrying amount would have been £7,280,094 (2023 : £7,090,898).

4

Debtors

2024
£

2023
£

Other debtors

600

600

Prepayments and accrued income

3,240

7,974

3,840

8,574

 

Barton Homes Limited

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

5

Creditors

2024
£

2023
£

Due within one year

Other creditors

22,990

24,658

Taxation and social security

63,205

26,347

86,195

51,005

Due after one year

Redeemable preference shares (over 5 yrs)

2,684,900

2,684,900

Other creditors

2,059,640

2,000,000

Directors loan accounts

1,837,893

1,842,058

6,582,433

6,526,958

6

Related party transactions

During the year the directors had an interest free loan account with the company. At the balance sheet date the amount owed by the company was £1,837,893 (2023: £1,842,058). In addition the family of the directors had an interest free loan account with the company. At the balance sheet date the amount owed by the company was £2,059,640 (2023: £2,000,000).

 

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

A Preference share capital of £1 each

1,934,900

1,934,900

1,934,900

1,934,900

B Preference share capital of £1 each

750,000

750,000

750,000

750,000

 

2,685,000

2,685,000

2,685,000

2,685,000

The redeemable preference shares carry no voting rights but shareholders are entitled to a fixed cumulative preferential dividend of 0.5% per annum on the A Preference shares and 2% per annum on the B Preference shares on the amount of paid up capital. In the event of a winding up, any capital and arrears of dividend will be paid to shareholders prior to the payment being made to ordinary shareholders.