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Company Registration No. 09577119 (England and Wales)
Norfolk Barn Specialists Ltd Unaudited accounts for the year ended 31 May 2024
Norfolk Barn Specialists Ltd Unaudited accounts Contents
Page
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Norfolk Barn Specialists Ltd Company Information for the year ended 31 May 2024
Directors
Lester Bayfield Katie Louise Bayfield Maurine Bayfield
Company Number
09577119 (England and Wales)
Registered Office
Salhouse Hall Norwich Road Salhouse Norwich Norfolk NR13 6TE England
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Norfolk Barn Specialists Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
141,488 
180,348 
Current assets
Inventories
969,866 
969,866 
Debtors
672,367 
622,377 
Cash at bank and in hand
15,453 
27,312 
1,657,686 
1,619,555 
Creditors: amounts falling due within one year
(120,494)
(161,451)
Net current assets
1,537,192 
1,458,104 
Total assets less current liabilities
1,678,680 
1,638,452 
Creditors: amounts falling due after more than one year
(512,761)
(368,744)
Provisions for liabilities
Deferred tax
(39,199)
(48,109)
Net assets
1,126,720 
1,221,599 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,126,620 
1,221,499 
Shareholders' funds
1,126,720 
1,221,599 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by
Lester Bayfield Director Company Registration No. 09577119
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Norfolk Barn Specialists Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Norfolk Barn Specialists Ltd is a private company, limited by shares, registered in England and Wales, registration number 09577119. The registered office is Salhouse Hall, Norwich Road, Salhouse, Norwich, Norfolk, NR13 6TE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
256,357 
177,000 
5,985 
439,342 
Additions
- 
89,000 
- 
89,000 
Disposals
(30,750)
- 
- 
(30,750)
At 31 May 2024
225,607 
266,000 
5,985 
497,592 
Depreciation
At 1 June 2023
184,715 
69,733 
4,546 
258,994 
Charge for the year
45,828 
56,875 
- 
102,703 
On disposals
(5,593)
- 
- 
(5,593)
At 31 May 2024
224,950 
126,608 
4,546 
356,104 
Net book value
At 31 May 2024
657 
139,392 
1,439 
141,488 
At 31 May 2023
71,642 
107,267 
1,439 
180,348 
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Norfolk Barn Specialists Ltd Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
24,141 
Accrued income and prepayments
- 
2,000 
Other debtors
- 
100 
- 
26,241 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
672,267 
596,136 
Other debtors
100 
- 
672,367 
596,136 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
5,136 
- 
Obligations under finance leases and hire purchase contracts
38,732 
35,610 
Trade creditors
25,094 
49,229 
Taxes and social security
96 
76,612 
Other creditors
50,436 
- 
Accruals
1,000 
- 
120,494 
161,451 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
103,436 
Obligations under finance leases and hire purchase contracts
88,125 
98,482 
Other creditors
- 
2,305 
Loans from directors
424,636 
159,121 
Accruals
- 
5,400 
512,761 
368,744 
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
39,199 
48,109 
2024 
2023 
£ 
£ 
Provision at start of year
48,109 
39,202 
(Credited)/charged to the profit and loss account
(8,910)
8,907 
Provision at end of year
39,199 
48,109 
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Norfolk Barn Specialists Ltd Notes to the Accounts for the year ended 31 May 2024
9
Loans to directors
During the year the company operated an interest free loan with the directors. As of the 31st Mat 2024 the directors were owed £424,636 (2023 £159,121).
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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