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Registration number: 12731730

Barkwell Developments Limited

Filleted Financial Statements

for the Year Ended 30 June 2024

 

Barkwell Developments Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 5

 

Barkwell Developments Limited

(Registration number: 12731730)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

375,000

416,184

Cash at bank and in hand

 

5,595

166,526

 

380,595

582,710

Creditors: Amounts falling due within one year

5

(374,742)

(566,903)

Net assets

 

5,853

15,807

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

5,753

15,707

Shareholders' funds

 

5,853

15,807

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 19 December 2024
 


C Barkwell
Director

 

Barkwell Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Brayhams Yard
North Road
Okehampton
Devon
EX20 1AB

Principal activity

The principal activity of the company was that of property development.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Barkwell Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 December 2024 was David Wright FCA, who signed for and on behalf of Westcotts (SW) LLP.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Barkwell Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

4

Debtors

2024
£

2023
£

Amounts owed by group undertakings

375,000

300,000

Other debtors

-

116,184

375,000

416,184

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Amounts owed to group undertakings

366,494

503,655

Taxation and social security

6,248

6,248

Accruals and deferred income

2,000

57,000

374,742

566,903

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

7

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

-

70,129

(70,129)

-

-

-

-

-

-

70,129

(70,129)

-

 

8

Parent and ultimate parent undertaking

The company's immediate parent is Barkwell Properties Limited, incorporated in England.
 

 

Barkwell Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

8

Parent and ultimate parent undertaking (continued)

The parent of the largest group in which these financial statements are consolidated is Barkwell Properties Limited, incorporated in England.

The address of Barkwell Properties Limited is:
Unit 2 Brayhams Yard
North Road
Okehampton
Devon
EX20 1AB