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
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
Norfolk Barn Specialists Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
141,488
180,348
Inventories
969,866
969,866
Cash at bank and in hand
15,453
27,312
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
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
Norfolk Barn Specialists Ltd
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 31 May 2024
657
139,392
1,439
141,488
At 31 May 2023
71,642
107,267
1,439
180,348
Norfolk Barn Specialists Ltd
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Accrued income and prepayments
-
2,000
Amounts falling due after more than one year
Amounts due from group undertakings etc.
672,267
596,136
6
Creditors: amounts falling due within one year
2024
2023
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
88,125
98,482
Loans from directors
424,636
159,121
8
Deferred taxation
2024
2023
Accelerated capital allowances
39,199
48,109
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
Norfolk Barn Specialists Ltd
Notes to the Accounts
for the year ended 31 May 2024
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).