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REGISTERED NUMBER: 10805015 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2024

for

Barometer Holdings Limited

Barometer Holdings Limited (Registered number: 10805015)






Contents of the Financial Statements
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Barometer Holdings Limited

Company Information
for the Year Ended 30th June 2024







DIRECTORS: V J Thornton
Ms L J Thornton





REGISTERED OFFICE: 114 New London Road
Chelmsford
Essex
CM2 0RG





REGISTERED NUMBER: 10805015 (England and Wales)





ACCOUNTANTS: Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA

Barometer Holdings Limited (Registered number: 10805015)

Balance Sheet
30th June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,680,000 1,655,000

CURRENT ASSETS
Debtors 5 11,325 4,053
Cash at bank 6,008 2,916
17,333 6,969
CREDITORS
Amounts falling due within one year 6 82,677 54,712
NET CURRENT LIABILITIES (65,344 ) (47,743 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,614,656

1,607,257

CREDITORS
Amounts falling due after more than one
year

7

(929,792

)

(969,471

)

PROVISIONS FOR LIABILITIES (132,912 ) (126,662 )
NET ASSETS 551,952 511,124

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 398,737 379,987
Retained earnings 153,115 131,037
551,952 511,124

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Barometer Holdings Limited (Registered number: 10805015)

Balance Sheet - continued
30th June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th January 2025 and were signed on its behalf by:





V J Thornton - Director


Barometer Holdings Limited (Registered number: 10805015)

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

1. STATUTORY INFORMATION

Barometer Holdings 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 as modified by the revaluation of certain assets.

Revenue recognition
Revenue represents rental income receivable during the year.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023 1,655,000
Revaluations 25,000
At 30th June 2024 1,680,000
NET BOOK VALUE
At 30th June 2024 1,680,000
At 30th June 2023 1,655,000

Barometer Holdings Limited (Registered number: 10805015)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2024 531,650
Cost 1,148,350
1,680,000

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

30.6.24 30.6.23
£    £   
Cost 1,148,350 1,148,350

The investment property was valued on an open market basis by an independent valuer.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 11,325 4,053

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 40,800 39,000
Taxation and social security 6,470 5,764
Other creditors 35,407 9,948
82,677 54,712

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 25,019 66,444
Other creditors 904,773 903,027
929,792 969,471

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 65,819 105,444

The company has provided a Debenture to its bankers in the form of a Right of Set-Off and a Fixed and Floating charge over the assets of the company.

Barometer Holdings Limited (Registered number: 10805015)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

9. RESERVES
Fair
value
reserve
£   
At 1st July 2023 379,987
Fair value revaluation 18,750

At 30th June 2024 398,737

10. RELATED PARTY DISCLOSURES

During the year, V J Thornton a director of the company, continued to advance a long-term, interest-free loan to the company. The balance on this loan account at 30th June 2024 amounted to £904,773 (2023: £903,027).

V.J. Thornton has also provided a personal guarantee in respect of the company's bank loan.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Barometer Holdings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barometer Holdings Limited for the year ended 30th June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Barometer Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barometer Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Barometer Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barometer Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Barometer Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barometer Holdings Limited. You consider that Barometer Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barometer Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA


27th January 2025