Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312023-09-01falseLetting of commercial propertyfalse22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08863902 2023-09-01 2024-08-31 08863902 2022-09-01 2023-08-31 08863902 2024-08-31 08863902 2023-08-31 08863902 c:Director1 2023-09-01 2024-08-31 08863902 c:Director2 2023-09-01 2024-08-31 08863902 d:Buildings 2023-09-01 2024-08-31 08863902 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 08863902 d:Buildings d:LongLeaseholdAssets 2024-08-31 08863902 d:Buildings d:LongLeaseholdAssets 2023-08-31 08863902 d:PlantMachinery 2023-09-01 2024-08-31 08863902 d:FreeholdInvestmentProperty 2023-09-01 2024-08-31 08863902 d:FreeholdInvestmentProperty 2024-08-31 08863902 d:FreeholdInvestmentProperty 2023-08-31 08863902 d:FreeholdInvestmentProperty 2 2023-09-01 2024-08-31 08863902 d:CurrentFinancialInstruments 2024-08-31 08863902 d:CurrentFinancialInstruments 2023-08-31 08863902 d:Non-currentFinancialInstruments 2024-08-31 08863902 d:Non-currentFinancialInstruments 2023-08-31 08863902 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 08863902 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08863902 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 08863902 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08863902 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 08863902 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 08863902 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 08863902 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 08863902 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 08863902 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 08863902 d:ShareCapital 2024-08-31 08863902 d:ShareCapital 2023-08-31 08863902 d:RetainedEarningsAccumulatedLosses 2024-08-31 08863902 d:RetainedEarningsAccumulatedLosses 2023-08-31 08863902 c:FRS102 2023-09-01 2024-08-31 08863902 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08863902 c:FullAccounts 2023-09-01 2024-08-31 08863902 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08863902 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure
                                                                                                                         Registered number: 08863902















HEATH BARN LTD




UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
HEATH BARN LTD
REGISTERED NUMBER:08863902

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1

Investment property
 5 
610,000
898,843

  
610,000
898,844

Current assets
  

Debtors: amounts falling due within one year
 6 
3,396
5,535

Cash at bank and in hand
  
3,140
10,755

  
6,536
16,290

Creditors: amounts falling due within one year
 7 
(625,807)
(621,766)

Net current liabilities
  
 
 
(619,271)
 
 
(605,476)

Total assets less current liabilities
  
(9,271)
293,368

Creditors: amounts falling due after more than one year
 8 
(184,197)
(204,790)

Provisions for liabilities
  

Deferred tax
  
-
(17,722)

  
 
 
-
 
 
(17,722)

Net (liabilities)/assets
  
(193,468)
70,856


Capital and reserves
  

Called up share capital 
  
40
40

Profit and loss account
  
(193,508)
70,816

  
(193,468)
70,856


Page 1

 
HEATH BARN LTD
REGISTERED NUMBER:08863902
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Daniel Grocott
................................................
Jody Simon Murfit
Director
Director


Date: 12 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Heath Barn Ltd is a company limited by shares incorporated in England & Wales, registered number 08863902. The address of the registered office is Heath Barn, Norwich Road, Fakenham, Norfolk, NR21 8LZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Showroom display
-
25% Straight line
Plant & machinery
-
25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. If required, the directors will obtain external professional advice on the investment property valuation. No depreciation is provided. Changes in fair value are recognised in the Profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Showroom display

£





At 1 September 2023
150,090


Disposals
(150,090)



At 31 August 2024

-





At 1 September 2023
150,089


Disposals
(150,089)



At 31 August 2024

-



Net book value



At 31 August 2024
-



At 31 August 2023
1

Page 6

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
898,843


Additions at cost
1,821


Surplus on revaluation
(290,664)



At 31 August 2024
610,000

The 2024 valuations were made by Fenn Wright and the director, Daniel Grocott, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Trade debtors
-
1,881

Other debtors
2,560
2,560

Called up share capital not paid
10
10

Prepayments and accrued income
826
1,084

3,396
5,535


Page 7

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
20,649
19,505

Other loans
592,500
592,500

Trade creditors
215
1,881

Corporation tax
2,266
4,910

Other taxation and social security
1,677
1,870

Accruals and deferred income
8,500
1,100

625,807
621,766


The following liabilities were secured:

2024
2023
£
£



Bank loans
10,649
9,505

10,649
9,505

Details of security provided:

The above loans are secured against the freehold property Heath Barn, Fakenham that is owned by the company.

Page 8

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
184,197
204,790

184,197
204,790


The following liabilities were secured:

2024
2023
£
£



Bank loans
176,697
187,289

176,697
187,289

Details of security provided:

The above loans are secured against the freehold property Heath Barn, Fakenham that is owned by the company.

Page 9

 
HEATH BARN LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
20,649
19,505

Other loans
592,500
592,500


613,149
612,005

Amounts falling due 1-2 years

Bank loans
19,211
20,420


19,211
20,420

Amounts falling due 2-5 years

Bank loans
35,029
45,182


35,029
45,182

Amounts falling due after more than 5 years

Bank loans
129,958
139,188

129,958
139,188

797,347
816,795


 
Page 10