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REGISTERED NUMBER: 11530094 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 August 2024

for

Barracuda South Ltd

Barracuda South Ltd (Registered number: 11530094)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Barracuda South Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr C Bailey
Mrs S Bailey





SECRETARY: Mr C Bailey





REGISTERED OFFICE: 3 Praze Road
Newquay
Cornwall
TR7 3DE





REGISTERED NUMBER: 11530094 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Barracuda South Ltd (Registered number: 11530094)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,247 558
Investment property 5 1,328,700 1,290,000
1,329,947 1,290,558

CURRENT ASSETS
Debtors 6 3,966 3,905
Cash at bank 13,825 1,493
17,791 5,398
CREDITORS
Amounts falling due within one year 7 103,726 235,532
NET CURRENT LIABILITIES (85,935 ) (230,134 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,244,012 1,060,424

CREDITORS
Amounts falling due after more than one year 8 (253,986 ) (121,827 )

PROVISIONS FOR LIABILITIES (7,590 ) -
NET ASSETS 982,436 938,597

CAPITAL AND RESERVES
Called up share capital 10 476,536 476,436
Share premium 11 476,436 476,436
Fair value reserve 11 31,347 -
Retained earnings 11 (1,883 ) (14,275 )
SHAREHOLDERS' FUNDS 982,436 938,597

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

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

The directors acknowledge their 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.

Barracuda South Ltd (Registered number: 11530094)

Balance Sheet - continued
31 August 2024


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 Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





Mr C Bailey - Director


Barracuda South Ltd (Registered number: 11530094)

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

1. STATUTORY INFORMATION

Barracuda South Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.
Fixtures and fittings - 15% 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 NIL (2023 - NIL).

Barracuda South Ltd (Registered number: 11530094)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2023 656
Additions 773
At 31 August 2024 1,429
DEPRECIATION
At 1 September 2023 98
Charge for year 84
At 31 August 2024 182
NET BOOK VALUE
At 31 August 2024 1,247
At 31 August 2023 558

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,290,000
Revaluations 38,700
At 31 August 2024 1,328,700
NET BOOK VALUE
At 31 August 2024 1,328,700
At 31 August 2023 1,290,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 38,700
Cost 1,290,000
1,328,700

If investment property had not been revalued it would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 1,290,000 1,290,000

Investment property was valued on an open market basis on 31 August 2024 by the directors .

Barracuda South Ltd (Registered number: 11530094)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 3,744 3,692
Prepayments 222 213
3,966 3,905

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (1 ) 2
Other creditors 15,842 53,692
Directors' current accounts 85,995 180,038
Accrued expenses 1,890 1,800
103,726 235,532

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans more 5 yrs non-inst 253,986 121,827

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 253,986 121,827

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Mortgage 253,986 121,827

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
238,268 Ordinary A £1 238,268 238,218
238,268 Ordinary B £1 238,268 238,218
476,536 476,436

Barracuda South Ltd (Registered number: 11530094)

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

11. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 September 2023 (14,275 ) 476,436 - 462,161
Profit for the year 43,739 43,739
Assets revalued in period (31,347 ) - 31,347 -
At 31 August 2024 (1,883 ) 476,436 31,347 505,900