Registered number
04503229
New Barn Cars Limited
Filleted Accounts
31 December 2024
New Barn Cars Limited
Company Information
Director
N J Phelps
Mrs N D Phelps
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
26 Neptune Business Centre
Cheltenham
Glos
Registered number
04503229
New Barn Cars Limited
Registered number: 04503229
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 552,510 550,735
Current assets
Stocks 9,500 9,500
Debtors 5 8,962 4,588
Cash at bank and in hand 115,369 94,857
133,831 108,945
Creditors: amounts falling due within one year 6 (53,008) (56,437)
Net current assets 80,823 52,508
Total assets less current liabilities 633,333 603,243
Creditors: amounts falling due after more than one year 7 (125,164) (128,451)
Net assets 508,169 474,792
Capital and reserves
Called up share capital 50 50
Capital redemption reserve 50 50
Profit and loss account 508,069 474,692
Shareholders' funds 508,169 474,792
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N J Phelps
Director
Approved by the board on 31 January 2025
New Barn Cars Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property Nil
Plant and machinery over 4 years
Office equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 30,000
At 31 December 2024 30,000
Amortisation
At 1 January 2024 30,000
At 31 December 2024 30,000
Net book value
At 31 December 2024 -
Goodwill has been written off in annual instalments over its estimated economic life.
4 Tangible fixed assets
Freehold property Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 January 2024 543,730 121,891 16,416 682,037
Additions - 6,991 957 7,948
At 31 December 2024 543,730 128,882 17,373 689,985
Depreciation
At 1 January 2024 - 115,101 16,201 131,302
Charge for the year - 5,721 452 6,173
At 31 December 2024 - 120,822 16,653 137,475
Net book value
At 31 December 2024 543,730 8,060 720 552,510
At 31 December 2023 543,730 6,790 215 550,735
5 Debtors 2024 2023
£ £
Trade debtors 8,962 4,588
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 195 4,779
Taxation and social security costs 48,063 46,908
Other creditors 4,750 4,750
53,008 56,437
7 Creditors: amounts falling due after one year 2024 2023
£ £
Secured bank loans - 22,000
Directors loans 125,164 106,451
125,164 128,451
8 Controlling party
The company is controlled by the directors.
9 Other information
New Barn Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Neptune Business Centre
Cheltenham
Glos
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