Barrhill Properties Limited 04089454 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is letting residential properties Digita Accounts Production Advanced 6.30.9574.0 true false true true 04089454 2023-11-01 2024-10-31 04089454 2024-10-31 04089454 bus:OrdinaryShareClass1 2024-10-31 04089454 bus:OrdinaryShareClass2 2024-10-31 04089454 core:OtherMiscellaneousReserve 2024-10-31 04089454 core:RetainedEarningsAccumulatedLosses 2024-10-31 04089454 core:RevaluationReserve 2024-10-31 04089454 core:ShareCapital 2024-10-31 04089454 core:CurrentFinancialInstruments 2024-10-31 04089454 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 04089454 core:Non-currentFinancialInstruments 2024-10-31 04089454 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 04089454 core:MoreThanFiveYears 1 2024-10-31 04089454 core:MoreThanFiveYears 2 2024-10-31 04089454 1 2024-10-31 04089454 bus:SmallEntities 2023-11-01 2024-10-31 04089454 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04089454 bus:FilletedAccounts 2023-11-01 2024-10-31 04089454 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04089454 bus:RegisteredOffice 2023-11-01 2024-10-31 04089454 bus:Director1 2023-11-01 2024-10-31 04089454 bus:Director3 2023-11-01 2024-10-31 04089454 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 04089454 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 04089454 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04089454 core:OtherMiscellaneousReserve 2023-11-01 2024-10-31 04089454 core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 04089454 core:RevaluationReserve 2023-11-01 2024-10-31 04089454 core:ShareCapital 2023-11-01 2024-10-31 04089454 core:Buildings 2023-11-01 2024-10-31 04089454 core:Subsidiary1 2023-11-01 2024-10-31 04089454 core:Subsidiary1 1 2023-11-01 2024-10-31 04089454 core:Subsidiary1 countries:England 2023-11-01 2024-10-31 04089454 1 2023-11-01 2024-10-31 04089454 countries:EnglandWales 2023-11-01 2024-10-31 04089454 2023-10-31 04089454 core:OtherMiscellaneousReserve 2023-10-31 04089454 core:RetainedEarningsAccumulatedLosses 2023-10-31 04089454 core:RevaluationReserve 2023-10-31 04089454 core:ShareCapital 2023-10-31 04089454 core:CostValuation 2023-10-31 04089454 2022-11-01 2023-10-31 04089454 2023-10-31 04089454 bus:OrdinaryShareClass1 2023-10-31 04089454 bus:OrdinaryShareClass2 2023-10-31 04089454 core:CurrentFinancialInstruments 2023-10-31 04089454 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 04089454 core:Non-currentFinancialInstruments 2023-10-31 04089454 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 04089454 core:MoreThanFiveYears 1 2023-10-31 04089454 core:MoreThanFiveYears 2 2023-10-31 04089454 1 2023-10-31 04089454 core:OtherMiscellaneousReserve 2022-11-01 2023-10-31 04089454 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 04089454 core:RevaluationReserve 2022-11-01 2023-10-31 04089454 core:ShareCapital 2022-11-01 2023-10-31 04089454 core:Subsidiary1 1 2022-11-01 2023-10-31 04089454 2022-10-31 04089454 core:OtherMiscellaneousReserve 2022-10-31 04089454 core:RetainedEarningsAccumulatedLosses 2022-10-31 04089454 core:RevaluationReserve 2022-10-31 04089454 core:ShareCapital 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04089454

Barrhill Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Barrhill Properties Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

Barrhill Properties Limited

Company Information

Directors

Mr A Carr

Mrs Emma Smith

Registered office

62 Florence Road
Brighton
East Sussex
BN1 6DJ

Accountants

Melrose Accountants
62 Florence Road
Brighton
East Sussex
BN1 6DJ

 

Barrhill Properties Limited

(Registration number: 04089454)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

4,150,000

4,150,000

Investments

5

1

1

 

4,150,001

4,150,001

Current assets

 

Debtors

6

198,959

211,460

Cash at bank and in hand

 

3,896

1,828

 

202,855

213,288

Creditors: Amounts falling due within one year

7

(33,807)

(59,038)

Net current assets

 

169,048

154,250

Total assets less current liabilities

 

4,319,049

4,304,251

Creditors: Amounts falling due after more than one year

7

(1,932,039)

(1,860,694)

Provisions for liabilities

(377,350)

(377,350)

Net assets

 

2,009,660

2,066,207

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

1,016,981

1,016,981

Other reserves

611,128

611,128

Retained earnings

381,451

437,998

Shareholders' funds

 

2,009,660

2,066,207

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Barrhill Properties Limited

(Registration number: 04089454)
Statement of Financial Position as at 31 October 2024

Approved and authorised by the Board on 21 February 2025 and signed on its behalf by:
 

.........................................
Mrs Emma Smith
Director

 

Barrhill Properties Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Revaluation reserve
£

Non-distributable reserve
£

Retained earnings
£

At 1 November 2023

100

1,016,981

611,128

437,998

Loss for the year

-

-

-

(56,547)

At 31 October 2024

100

1,016,981

611,128

381,451

Total
£

At 1 November 2023

2,066,207

Loss for the year

(56,547)

At 31 October 2024

2,009,660

Share capital
£

Revaluation reserve
£

Non-distributable reserve
£

Retained earnings
£

At 1 November 2022

100

1,133,482

659,728

317,476

Loss for the year

-

-

-

(40,579)

Other comprehensive income

-

(116,501)

(48,600)

165,101

Total comprehensive income

-

(116,501)

(48,600)

124,522

Dividends

-

-

-

(4,000)

At 31 October 2023

100

1,016,981

611,128

437,998

Total
£

At 1 November 2022

2,110,786

Loss for the year

(40,579)

Other comprehensive income

-

Total comprehensive income

(40,579)

Dividends

(4,000)

At 31 October 2023

2,066,207

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
62 Florence Road
Brighton
East Sussex
BN1 6DJ

These financial statements were authorised for issue by the Board on 21 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

No depreciation is provided in respect of the freehold and long leasehold properties owned by the Company

Asset class

Depreciation method and rate

Land and Buildings

nil

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 3).

4

Investment properties

2024
£

At 1 November

4,150,000

At 31 October

4,150,000

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 November 2023

1

Provision

Carrying amount

At 31 October 2024

1

At 31 October 2023

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Barrhill Properties Southern Limited

62 Florence Road
Brighton BN1 6DJ

England

ordinary

100%

100%

Subsidiary undertakings

Barrhill Properties Southern Limited

The principal activity of Barrhill Properties Southern Limited is rental of commercial property.

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

195,290

196,238

Prepayments

 

3,146

2,699

Other debtors

 

523

12,523

   

198,959

211,460

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

5,750

Taxation and social security

 

9,707

9,707

Accruals and deferred income

 

1,540

1,540

Other creditors

 

22,560

42,041

 

33,807

59,038

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £5,750 (2023 : £5750).

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,932,039

1,860,694

2024
£

2023
£

Due after more than five years

After more than five years by instalments

-

146,711

After more than five years not by instalments

1,932,039

1,689,983

1,932,039

1,836,694

-

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary of £0.01 each

10,000

100

10,000

100

ordinary A of £0.01 each

4

-

4

-

10,004

100

10,004

100

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,932,039

1,860,694

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

5,750

Bank borrowings

The bank loan is denominated in £ with a nominal interest rate of 5.25% to 9%, and the final instalment is due on 31 March 2041. The carrying amount at year end is £1,932,039 (2023 - £1,866,444).

The bank loan are secured on the Company's freehold and leasehold land and buildings

 

Barrhill Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Borrowings due after five years

The bank loan is due to mature on 16 November 2041. The current interest rate is 5.25% to 9%