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REGISTERED NUMBER: 12809160 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Barwick Property Development Ltd

Barwick Property Development Ltd (Registered number: 12809160)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Barwick Property Development Ltd (Registered number: 12809160)

Balance Sheet
31 July 2024

31.7.24 31.7.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 871 233
Investment property 5 737,500 662,500
738,371 662,733

CURRENT ASSETS
Debtors 6 7,996 450
Cash at bank 6,783 156
14,779 606
CREDITORS
Amounts falling due within one year 7 180,759 219,500
NET CURRENT LIABILITIES (165,980 ) (218,894 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,391

443,839

CREDITORS
Amounts falling due after more than one year 8 (513,150 ) (393,592 )

PROVISIONS FOR LIABILITIES (36,713 ) (33,356 )
NET ASSETS 22,528 16,891

CAPITAL AND RESERVES
Called up, allotted and fully paid share capital 100 100
Revaluation reserve 156,515 142,201
Retained earnings (134,087 ) (125,410 )
22,528 16,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 21 February 2025 and were signed by:




D F Barwick - Director


Barwick Property Development Ltd (Registered number: 12809160)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Barwick Property Development Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12809160

Registered office: 26a Captain Cooks Close
Staithes
Saltburn-By-The-Sea
TS13 5AP

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Barwick Property Development Ltd (Registered number: 12809160)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 310
Additions 930
At 31 July 2024 1,240
DEPRECIATION
At 1 August 2023 77
Charge for year 292
At 31 July 2024 369
NET BOOK VALUE
At 31 July 2024 871
At 31 July 2023 233

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 662,500
Additions 57,329
Revaluations 17,671
At 31 July 2024 737,500
NET BOOK VALUE
At 31 July 2024 737,500
At 31 July 2023 662,500

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2023 175,557
Valuation in 2024 17,671
Cost 544,272
737,500

These valuations were carried out by the director who, whilst not a qualified surveyor, does have many years experience in the property sector. These valuations are further supported by valuations recently carried out by finance providers for mortgage purposes.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
as restated
£    £   
Trade debtors 6,850 450
Other debtors 1,146 -
7,996 450

Barwick Property Development Ltd (Registered number: 12809160)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
as restated
£    £   
Trade creditors 2,945 1,599
Taxation and social security - 22
Other creditors 177,814 217,879
180,759 219,500

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
as restated
£    £   
Bank loans 513,150 393,592

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
as restated
£    £   
Bank loans 513,150 393,592

The debts are secured with a fixed and floating charge over the assets of the company.