Company registration number 10840383 (England and Wales)
BARSBY ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BARSBY ESTATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BARSBY ESTATES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
85
Investment property
4
1,030,159
1,030,159
1,030,159
1,030,244
Current assets
Debtors
5
97,092
106,780
Cash at bank and in hand
11,003
48,948
108,095
155,728
Creditors: amounts falling due within one year
6
(183,356)
(406,997)
Net current liabilities
(75,261)
(251,269)
Total assets less current liabilities
954,898
778,975
Creditors: amounts falling due after more than one year
7
(526,607)
(530,700)
Net assets
428,291
248,275
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
428,191
248,175
Total equity
428,291
248,275
BARSBY ESTATES LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mrs K L Goodacre
Mrs S J Dean
Director
Director
Company registration number 10840383 (England and Wales)
BARSBY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Barsby Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit T2, Ivanhoe Office Park, Ivanhoe Park Way, Ashby-De-La-Zouch, Leicestershire, LE65 2AB. The company registration number is 10840383.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue represents rental income receivable from properties let in the year and management
services. Rental income is recognised for the period to which the rental relates. Rental income is deferred to a future period where is does not relate to the current period.
Incentive payments and other incentives to new tenants to occupy the company's investment
properties are treated as reduction in revenue recognised evenly over the term of the lease and initially recorded as prepayments. The prepayments are charged to the profit and loss account to result in even rental income over the term of the lease.
Management services income is recognised in the period in which the services are provided and when all of the following conditions are satisfied:
the amount of revenue can be measures reliably;
it is probable that the company will receive the consideration due;
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
BARSBY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
BARSBY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
4,765
Depreciation and impairment
At 1 July 2023
4,680
Depreciation charged in the year
85
At 30 June 2024
4,765
Carrying amount
At 30 June 2024
At 30 June 2023
85
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
1,030,159
Investment property has been included at cost.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,207
7,569
Other debtors
95,885
99,211
97,092
106,780
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
14,235
24,376
Trade creditors
2,093
Corporation tax
27,625
42,265
Other taxation and social security
944
5,715
Other creditors
140,552
332,548
183,356
406,997
BARSBY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
526,607
530,700