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REGISTERED NUMBER: 06130318 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Chipping Hall Barns Limited

Chipping Hall Barns Limited (Registered number: 06130318)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Chipping Hall Barns Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S C Nixon
N B Lowden



SECRETARY: S C Nixon



REGISTERED OFFICE: The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG



REGISTERED NUMBER: 06130318 (England and Wales)



ACCOUNTANTS: Knights Lowe
Chartered Accountants
The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG



SOLICITORS: Taylor Vinters
Merlin Place
Milton Road
Cambridge
CB4 0DP

Chipping Hall Barns Limited (Registered number: 06130318)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 1

CURRENT ASSETS
Stocks 1,568,138 1,568,138
Debtors 5 100 1,108
Cash at bank 2,250 5,130
1,570,488 1,574,376
CREDITORS
Amounts falling due within one year 6 1,464,360 1,464,252
NET CURRENT ASSETS 106,128 110,124
TOTAL ASSETS LESS CURRENT LIABILITIES 106,129 110,125

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 106,029 110,025
SHAREHOLDERS' FUNDS 106,129 110,125

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




S C Nixon - Director


Chipping Hall Barns Limited (Registered number: 06130318)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Chipping Hall Barns Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads,

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

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.


Chipping Hall Barns Limited (Registered number: 06130318)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 1
NET BOOK VALUE
At 29 February 2024 1
At 28 February 2023 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 100 1,108

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 920,165 920,165
Other creditors 544,195 544,087
1,464,360 1,464,252

Other creditors include £240,666 (2023 - £240,666 ) due to related parties.

Chipping Hall Barns Limited (Registered number: 06130318)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 920,165 920,165
Other loans 300,000 300,000
1,220,165 1,220,165

The secured debts are secured by fixed and floating charges over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

All issued shares are classified as equity.