Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30At 30 April 2024 the Company owed the directors owed £73,000 (2023: £3,693). During the year interest accrued on the directors loan account balance at a rate of 8% per annum. There is no set date for repayment and the balance is included within other creditors due within one year. At 30 April 2024 the company owed £394,907 (2023: £417,120) to A & R Developers Ltd, a company in which the directors have significant influence. No interest was charged on the loan and the balance is included within other creditors. At 30 April 2024 the company was owed £187,500 (2023: £325,000) by Norwich Road Ltd, a company in which A & T Barnes Ltd has a participating interest.directors A & R Developers Ltd Norwich Road Ltd467907420813truefalse2023-05-01Residential property developmentfalse33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03557517 2023-05-01 2024-04-30 03557517 2022-05-01 2023-04-30 03557517 2024-04-30 03557517 2023-04-30 03557517 c:CompanySecretary1 2023-05-01 2024-04-30 03557517 c:Director1 2023-05-01 2024-04-30 03557517 c:Director2 2023-05-01 2024-04-30 03557517 c:RegisteredOffice 2023-05-01 2024-04-30 03557517 d:PlantMachinery 2023-05-01 2024-04-30 03557517 d:PlantMachinery 2024-04-30 03557517 d:PlantMachinery 2023-04-30 03557517 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03557517 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03557517 d:MotorVehicles 2023-05-01 2024-04-30 03557517 d:MotorVehicles 2024-04-30 03557517 d:MotorVehicles 2023-04-30 03557517 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03557517 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03557517 d:OfficeEquipment 2023-05-01 2024-04-30 03557517 d:OfficeEquipment 2024-04-30 03557517 d:OfficeEquipment 2023-04-30 03557517 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03557517 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03557517 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03557517 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03557517 d:CurrentFinancialInstruments 2024-04-30 03557517 d:CurrentFinancialInstruments 2023-04-30 03557517 d:Non-currentFinancialInstruments 2024-04-30 03557517 d:Non-currentFinancialInstruments 2023-04-30 03557517 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03557517 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03557517 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03557517 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03557517 d:ShareCapital 2024-04-30 03557517 d:ShareCapital 2023-04-30 03557517 d:RetainedEarningsAccumulatedLosses 2024-04-30 03557517 d:RetainedEarningsAccumulatedLosses 2023-04-30 03557517 c:OrdinaryShareClass1 2023-05-01 2024-04-30 03557517 c:OrdinaryShareClass1 2024-04-30 03557517 c:OrdinaryShareClass2 2023-05-01 2024-04-30 03557517 c:OrdinaryShareClass2 2024-04-30 03557517 c:OrdinaryShareClass3 2023-05-01 2024-04-30 03557517 c:OrdinaryShareClass3 2024-04-30 03557517 c:OrdinaryShareClass4 2023-05-01 2024-04-30 03557517 c:OrdinaryShareClass4 2024-04-30 03557517 c:FRS102 2023-05-01 2024-04-30 03557517 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03557517 c:FullAccounts 2023-05-01 2024-04-30 03557517 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03557517 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-04-30 03557517 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-30 03557517 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 03557517 2 2023-05-01 2024-04-30 03557517 6 2023-05-01 2024-04-30 03557517 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03557517









A & T BARNES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
A & T BARNES LIMITED
 
 
COMPANY INFORMATION


Directors
A A Barnes 
T P Barnes 




Company secretary
A A Barnes



Registered number
03557517



Registered office
7 The Close

Norwich

England

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
A & T BARNES LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9


 
A & T BARNES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A & T BARNES LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & T Barnes Limited for the year ended 30 April 2024 which comprise  the 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 at https://www.icaew.com/regulation.

This report is made solely to the Board of directors of A & T Barnes Limited, as a body, in accordance with the terms of our engagement letter dated 10 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of A & T Barnes Limited and state those matters that we have agreed to state to the Board of directors of A & T Barnes Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & T Barnes Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that A & T Barnes 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 loss of A & T Barnes Limited. You consider that A & T Barnes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of A & T Barnes 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

24 January 2025
Page 1

 
A & T BARNES LIMITED
REGISTERED NUMBER: 03557517

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
177,621
70,322

Investments
  
125
-

  
177,746
70,322

Current assets
  

Stocks
  
1,135,834
1,291,371

Debtors: amounts falling due within one year
 6 
661,785
807,946

Cash at bank and in hand
  
906
14,370

  
1,798,525
2,113,687

Creditors: amounts falling due within one year
 7 
(2,196,561)
(2,085,096)

Net current (liabilities)/assets
  
 
 
(398,036)
 
 
28,591

Total assets less current liabilities
  
(220,290)
98,913

Creditors: amounts falling due after more than one year
 8 
(113,075)
(57,760)

Provisions for liabilities
  

Deferred tax
  
(33,769)
(13,362)

  
 
 
(33,769)
 
 
(13,362)

Net (liabilities)/assets
  
(367,134)
27,791


Capital and reserves
  

Called up share capital 
 9 
8
8

Profit and loss account
  
(367,142)
27,783

  
(367,134)
27,791


Page 2

 
A & T BARNES LIMITED
REGISTERED NUMBER: 03557517
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 profit and loss account 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 on 24 January 2025.






A A Barnes
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ
The Company's principal activity is that of property development and the Company's principal place of business is Norfolk.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the Company had net liabilities of £367,134.  The Company is reliant upon the support of both the directors and its bankers in order to meet its day-to-day working capital requirements.  The directors have provided a letter of comfort confirming that they will not seek repayment of their directors’ loan accounts until there are sufficient funds from which to do so.  The Company’s bankers have also confirmed their support for the foreseeable future.
 
After the year end the Company expects to sell nee of its developments at a loss.  However, despite this, the directors have considered a period of at least twelve months from the date of approval of the financial statements and are confident that the demand for new housing remains strong and that the Company’s remaining and future projects will be profitable.  The directors therefore consider it appropriate to prepare the accounts on a going concern basis.

 
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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
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.

 
2.9

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.

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 or on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
20%
reducing balance
Office equipment
-
25%
straight line

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.

Page 5

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Stock and work in progress

Stock and work in progress comprises of residential property in development and is valued at the lower of cost and net realisable value.  Cost includes all direct costs.  Interest payable which is directly attributable to a development is also included within work in progress. Net realisable value represents estimated selling price less any further costs expected to be incurred to completion and disposal.

 
2.12

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.

 
2.13

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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
88,884
1,750
2,201
92,835


Additions
96,000
44,764
1,055
141,819


Disposals
-
-
(403)
(403)



At 30 April 2024

184,884
46,514
2,853
234,251



Depreciation


At 1 May 2023
20,981
350
1,182
22,513


Charge for the year on owned assets
2,919
350
482
3,751


Charge for the year on financed assets
21,669
8,953
-
30,622


Disposals
-
-
(256)
(256)



At 30 April 2024

45,569
9,653
1,408
56,630



Net book value



At 30 April 2024
139,315
36,861
1,445
177,621



At 30 April 2023
67,904
1,400
1,018
70,322


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
125



At 30 April 2024
125




Page 7

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
119,768
176,589

Amounts owed by joint ventures and associated undertakings
187,500
325,000

Other debtors
336,864
280,633

Prepayments and accrued income
17,653
25,724

661,785
807,946



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
7,400
7,400

Other loans
1,322,118
1,412,491

Trade creditors
252,457
132,791

Other taxation and social security
13,869
18,137

Obligations under finance lease and hire purchase contracts
37,368
9,695

Other creditors
540,770
483,488

Accruals and deferred income
22,579
21,094

2,196,561
2,085,096



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,017
15,417

Net obligations under finance leases and hire purchase contracts
105,058
42,343

113,075
57,760




Page 8

 
A & T BARNES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 Ordinary A shares of £1.00 each
2
2
2 Ordinary B shares of £1.00 each
2
2
2 Ordinary C shares of £1.00 each
2
2
2 Ordinary D shares of £1.00 each
2
2

8

8



10.


Pension commitments

Contributions totalling £Nil (2023: £1,000) were payable to the fund at the balance sheet date and are included in other creditors.


11.


Related party transactions

At 30 April 2024 the Company owed the directors owed £73,000 (2023: £3,693). During the year interest accrued on the directors loan account balance at a rate of 8% per annum. There is no set date for repayment and the balance is included within other creditors due within one year.
 
At 30 April 2024 the company owed £394,907 (2023: £417,120) to A & R Developers Ltd, a company in which the directors have significant influence. No interest was charged on the loan and the balance is included within other creditors.
At 30 April 2024 the company was owed 
£187,500 (2023: £325,000by Norwich Road Ltd, a company in which A & T Barnes Ltd has a participating interest.

 
Page 9