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Registered number: 00384768










BARKER & BORLASE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 JUNE 2024

 
BARKER & BORLASE LIMITED
REGISTERED NUMBER: 00384768

BALANCE SHEET
AS AT 29 JUNE 2024

2024
2023
Note
£
£

Tangible assets
 4 
78,002
97,195

Biological assets
 5 
59,870
53,190

  
137,872
150,385

Current assets
  

Stocks
  
197,034
265,819

Debtors: amounts falling due within one year
 6 
183,332
124,302

Bank and cash balances
  
-
2,815

  
380,366
392,936

Creditors: amounts falling due within one year
 7 
(304,648)
(273,541)

Net current assets
  
 
 
75,718
 
 
119,395

Total assets less current liabilities
  
213,590
269,780

Creditors: amounts falling due after more than one year
 8 
(933,114)
(879,964)

Provisions for liabilities
  

Deferred tax
  
(16,839)
(20,232)

Net liabilities
  
(736,363)
(630,416)


Capital and reserves
  

Called up share capital 
  
800
9,896

Profit and loss account
  
(737,163)
(640,312)

  
(736,363)
(630,416)


Page 1

 
BARKER & BORLASE LIMITED
REGISTERED NUMBER: 00384768
    
BALANCE SHEET (CONTINUED)
AS AT 29 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Miss B A Borlase
Director

Date: 10 January 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

1.


General information

Barker & Borlase Limited ("The Company") is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office are given in the company information.
The functional and presentational currency of the company is pounds sterling (£) and rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the forseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its directors and shareholders. The financial statements do not include any adjustments that would result if such support is not continuing. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.

Depreciation is provided on the following basis:

Freehold land and buildings
-
0-5% Straight line
Plant and equipment
-
15-30% Reducing balance
Motor vehicles
-
25% Reducing balance
Computers
-
25% Reducing balance
Other fixed assets
-
15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.6

Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:
- the entity has control over the asset as a result of past events;
- it is probable that future economic benefits associated with the asset will flow to the entity; and
- the fair value or cost of the asset can be measured reliably.
Where the company opts to measure a biological asset under the fair vlaue model on initial recognition it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.
Where the company opts to measure agricultural produce harvested from the biological asset it is measured at fair value less costs to sell at the point of harvest. This measurement becomes the cost at the date the company applies Section 13 Inventories to the agricultural produce. 

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

2.Accounting policies (continued)

  
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7
 


 
BARKER & BORLASE LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024


4.


Tangible fixed assets






Freehold land and buildings
Plant  and equipment
Motor vehicles
Computers
Other  fixed assets
Total

£
£
£
£
£
£



Cost 


At 30 June 2023
117,384
427,574
76,941
4,311
106,556
732,766



At 29 June 2024

117,384
427,574
76,941
4,311
106,556
732,766



Depreciation


At 30 June 2023
103,888
359,281
73,424
3,999
94,979
635,571


Charge for the year on owned assets
2,851
13,648
879
78
1,737
19,193



At 29 June 2024

106,739
372,929
74,303
4,077
96,716
654,764



Net book value



At 29 June 2024
10,645
54,645
2,638
234
9,840
78,002



At 29 June 2023
13,496
68,293
3,517
312
11,577
97,195

Page 8
 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

5.


Biological assets


Sheep and cattle

£



Valuation


At 30 June 2023
53,190


Surplus on revaluation
6,680



At 29 June 2024
59,870

The 2024 valuations were made by the stock valuer, on an open market value for existing use basis.






6.


Debtors

2024
2023
£
£


Other debtors
1,809
3,279

Prepayments and accrued income
181,523
121,023

183,332
124,302



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
99,319
99,872

Bank loans
26,207
22,805

Trade creditors
29,529
56,824

Obligations under finance lease and hire purchase contracts
5,458
4,898

Other creditors
138,660
82,246

Accruals and deferred income
5,475
6,896

304,648
273,541


Included within creditors due within one year are bank loans of £26,207 (2023: £22,805), and bank overdrafts of £99,319 (2023: £99,872). These balances are secured by the company. 
Also included within creditors due within one year are obligations under finance lease and hire purchase contracts of £5,458 (2023: £4,898). This balance is secured against the assets to which it relates. 

Page 9

 
BARKER & BORLASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
264,310
293,919

Obligations under finance leases and hire purchase contracts
4,500
9,958

Other creditors
664,304
576,087

933,114
879,964


Included within creditors due after more than one year are bank loans of £264,310 (2023: £293,919). This balance is secured by the company. 
Also included within creditors due more after more than one year are obligations under finance lease and hire purchase contracts of £4,500 (2023: £9,958). This balance is secured against the assets to which it relates. 


9.


Related party transactions

Included within other creditors is a balance due to a director of the company of £159,986 (2023: £157,348) and a balance due to a second director of the company of £39,168 (2023: £33,753).  Of the balance owed to the first director, £19,986 (2023: £17,348) falls due within one year, and £140,000 (2023: £140,000) falls due after more than one year.
Included within other creditors is a balance of £5,490 (2023: £4,155) that is owed to a family member of a director.
These balances are interest free and repayable on demand. 
Also included within other creditors falling due after more than one year is £524,304 (2023: £436,087) owed to Bridget B's Limited, a company in which Ms B Borlase is also a director and the sole shareholder. This balance is interest free.

 
Page 10