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REGISTERED NUMBER: 13916558 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

BARNETT PROPERTIES LEICESTER
LIMITED

BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARNETT PROPERTIES LEICESTER
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr LM Barnett
Mr DK Barnett





REGISTERED OFFICE: Rearsby Business Park
Gaddesby Lane
Rearsby
Leicestershire
LE7 4YH





REGISTERED NUMBER: 13916558 (England and Wales)

BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 316,729 316,729

CURRENT ASSETS
Debtors 5 623 62,232
Cash at bank 79,124 -
79,747 62,232
CREDITORS
Amounts falling due within one year 6 402,320 381,329
NET CURRENT LIABILITIES (322,573 ) (319,097 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,844

)

(2,368

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,944 ) (2,468 )
(5,844 ) (2,368 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

BALANCE SHEET - continued
30 JUNE 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 27 February 2025 and were signed on its behalf by:





Mr DK Barnett - Director


BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Barnett Properties Leicester Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The current period represents the first full period of trading from incorporation and as such the comparative figures are not entirely comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income
Rental income from operating leases is recognised on a straight-line basis over the lease term.

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.


BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Creditors
Short term trade 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.

Going concern
The financial statements have been prepared on the going concern basis. As at 30/06/2024 the liabilities exceed the assets by £5,844.

Continuation to trade depends on the continual support of the company's directors. Should the company be unable to continue to trade, adjustment would have to be made to reduce the value of the assets to their recoverable amounts and to provide for any further liabilities which may arise. The company is supported by the director and shareholder of the company, who will continue to support the company for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 316,729
NET BOOK VALUE
At 30 June 2024 316,729
At 30 June 2023 316,729

BARNETT PROPERTIES LEICESTER
LIMITED (REGISTERED NUMBER: 13916558)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 623 62,232

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 945 -
Taxation and social security 1,351 -
Other creditors 400,024 381,329
402,320 381,329

7. RELATED PARTY DISCLOSURES

At the year end, the company owed £382,299 (2023: £379,929) to a company in which the Directors are also Directors.

There was no interest charged on the above balance.