Company registration number 00031641 (England and Wales)
THE BARNSLEY ARCADE COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
THE BARNSLEY ARCADE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
THE BARNSLEY ARCADE COMPANY LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,129,269
1,090,270
Current assets
Debtors
4
201
-
0
Cash at bank and in hand
62,524
41,981
62,725
41,981
Creditors: amounts falling due within one year
5
(51,454)
(46,840)
Net current assets/(liabilities)
11,271
(4,859)
Total assets less current liabilities
1,140,540
1,085,411
Provisions for liabilities
(61,700)
(46,400)
Net assets
1,078,840
1,039,011
Capital and reserves
Called up share capital
6
63,140
63,140
Capital redemption reserve
9,196
9,196
Profit and loss reserves
7
1,006,504
966,675
Total equity
1,078,840
1,039,011

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 11 February 2025 and are signed on its behalf by:
A Branson
Director
Company registration number 00031641 (England and Wales)
THE BARNSLEY ARCADE COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 June 2022
63,140
9,196
1,002,239
1,074,575
Year ended 31 May 2023:
Loss and total comprehensive income for the year
-
-
(5,257)
(5,257)
Dividends
-
-
(30,307)
(30,307)
Balance at 31 May 2023
63,140
9,196
966,675
1,039,011
Year ended 31 May 2024:
Profit and total comprehensive income for the year
-
-
70,136
70,136
Dividends
-
-
(30,307)
(30,307)
Balance at 31 May 2024
63,140
9,196
1,006,504
1,078,840
THE BARNSLEY ARCADE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

The Barnsley Arcade Company Limited is a private company, limited by shares and incorporated in England and Wales. The registered office is The Hart Shaw Building, Europa Link, Sheffield Business Park, Sheffield, S9 1XU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the distributions received or receivable on investments held.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Other investments other than loans

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE BARNSLEY ARCADE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

 

Investments in subsidiaries are revalued to the subsidiaries fair value each year. This is determined based on the value of the company's net assets.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

THE BARNSLEY ARCADE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
£
£
Investments
1,129,269
1,090,270
Movements in fixed asset investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost or valuation
At 1 June 2023
351,810
738,460
1,090,270
Additions
-
116,184
116,184
Valuation changes
(6,377)
74,578
68,201
Disposals
-
(145,386)
(145,386)
At 31 May 2024
345,433
783,836
1,129,269
Carrying amount
At 31 May 2024
345,433
783,836
1,129,269
At 31 May 2023
351,810
738,460
1,090,270
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
201
-
0
THE BARNSLEY ARCADE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
44,947
40,947
Taxation and social security
693
328
Accruals and deferred income
5,814
5,565
51,454
46,840
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
63,140
63,140
63,140
63,140
7
Profit and loss reserves

Included in profit and loss reserves are non-distributable reserves of £495,980 (2023 - £468,364). These reserves relate to the increase in fair value of investments less any directly attributable deferred tax liability.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Martin McDonagh
Statutory Auditor:
Hart Shaw LLP
Date of audit report:
14 February 2025
9
Related party transactions
Transactions with related parties

Included in creditors is an interest free loan owing to a wholly owned subsidiary totalling £44,947 (2023 - £40,947) with no set repayment terms.

 

Dividends of 26,000 (2023 - 26,000) were received from a wholly owned subsidiary undertaking.

10
Directors' transactions

During the year, the company made interest free advances to the director amounting to £201 (2023: £nil). This related to an overpayment on payroll and was corrected on the next payroll run after the year end.

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