IRIS Accounts Production v24.2.0.383 09966433 Board of Directors 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099664332023-02-28099664332024-02-29099664332023-03-012024-02-29099664332022-02-28099664332022-03-012023-02-28099664332023-02-2809966433ns15:EnglandWales2023-03-012024-02-2909966433ns14:PoundSterling2023-03-012024-02-2909966433ns10:Director12023-03-012024-02-2909966433ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909966433ns10:SmallEntities2023-03-012024-02-2909966433ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909966433ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909966433ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909966433ns10:FullAccounts2023-03-012024-02-2909966433ns10:OrdinaryShareClass12023-03-012024-02-2909966433ns10:Director22023-03-012024-02-2909966433ns10:RegisteredOffice2023-03-012024-02-2909966433ns5:CurrentFinancialInstruments2024-02-2909966433ns5:CurrentFinancialInstruments2023-02-2809966433ns5:Non-currentFinancialInstruments2024-02-2909966433ns5:Non-currentFinancialInstruments2023-02-2809966433ns5:ShareCapital2024-02-2909966433ns5:ShareCapital2023-02-2809966433ns5:FurtherSpecificReserve3ComponentTotalEquity2024-02-2909966433ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2809966433ns5:RetainedEarningsAccumulatedLosses2024-02-2909966433ns5:RetainedEarningsAccumulatedLosses2023-02-2809966433ns5:PlantMachinery2023-03-012024-02-2909966433ns5:MotorVehicles2023-03-012024-02-2909966433ns5:PlantMachinery2023-02-2809966433ns5:MotorVehicles2023-02-2809966433ns5:PlantMachinery2024-02-2909966433ns5:MotorVehicles2024-02-2909966433ns5:PlantMachinery2023-02-2809966433ns5:MotorVehicles2023-02-2809966433ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2909966433ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2809966433ns5:Secured2024-02-2909966433ns5:Secured2023-02-2809966433ns10:OrdinaryShareClass12024-02-2909966433ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-28
REGISTERED NUMBER: 09966433 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

HAWTHORN BARNS LTD

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)






Contents of the Financial Statements
for the year ended 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAWTHORN BARNS LTD

Company Information
for the year ended 29 FEBRUARY 2024







DIRECTORS: S L Welman
A E Welman





REGISTERED OFFICE: 155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB





REGISTERED NUMBER: 09966433 (England and Wales)





ACCOUNTANTS: Elsby & Co
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 298,969 426,533
Investment property 5 958,004 955,381
1,256,973 1,381,914

CURRENT ASSETS
Stocks 2,525 10,038
Debtors 6 147,240 26,563
Cash at bank 2,626 15,469
152,391 52,070
CREDITORS
Amounts falling due within one year 7 783,398 831,469
NET CURRENT LIABILITIES (631,007 ) (779,399 )
TOTAL ASSETS LESS CURRENT LIABILITIES 625,966 602,515

CREDITORS
Amounts falling due after more than one
year

8

(457,376

)

(425,141

)

PROVISIONS FOR LIABILITIES (27,511 ) (38,576 )
NET ASSETS 141,079 138,798

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Fair value reserve 11 95,308 95,308
Retained earnings 43,771 41,490
SHAREHOLDERS' FUNDS 141,079 138,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Balance Sheet - continued
29 FEBRUARY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





S L Welman - Director


HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements
for the year ended 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Hawthorn Barns Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance

During the year the decision has been made to amend the depreciation policy from 25% straight line to 25% reducing balance as this reflects the lifetime use of the assets which will hold a residual value after 4 years.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

There has been no material change in fair value since the most recent valuation.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
stock to its present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 498,966 178,403 677,369
Additions 21,891 - 21,891
Disposals (49,799 ) - (49,799 )
At 29 February 2024 471,058 178,403 649,461
DEPRECIATION
At 1 March 2023 186,200 64,636 250,836
Charge for year 71,214 28,442 99,656
At 29 February 2024 257,414 93,078 350,492
NET BOOK VALUE
At 29 February 2024 213,644 85,325 298,969
At 28 February 2023 312,766 113,767 426,533

The net book value of tangible fixed assets includes £ 170,412 (2023 - £ 277,015 ) in respect of assets held under hire purchase contracts.

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 955,381
Additions 2,623
At 29 February 2024 958,004
NET BOOK VALUE
At 29 February 2024 958,004
At 28 February 2023 955,381

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2019 103,677
Valuation in 2020 13,987
Cost 840,340
958,004

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 789,951 789,951

Investment property was valued on an open market basis on 28 February 2020 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,897 3,166
Other debtors 106,343 23,397
147,240 26,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,550 37,060
Hire purchase contracts 32,104 29,745
Trade creditors 70,730 146,855
Taxation and social security 2,276 486
Other creditors 641,738 617,323
783,398 831,469

HAWTHORN BARNS LTD (REGISTERED NUMBER: 09966433)

Notes to the Financial Statements - continued
for the year ended 29 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 257,678 290,475
Hire purchase contracts 199,698 134,666
457,376 425,141

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 100,171 138,159

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 294,228 327,494
Hire purchase contracts 231,802 164,411
526,030 491,905

The bank loan is secured on the investment property held in the accounts.

The 3 hire purchase loans are secured against the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

11. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 95,308