Barn Door Asset Management Ltd 11483860 false 2023-04-01 2024-03-30 2024-03-30 The principal activity of the company is other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 11483860 2023-04-01 2024-03-30 11483860 2024-03-30 11483860 core:CurrentFinancialInstruments 2024-03-30 11483860 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-30 11483860 core:Non-currentFinancialInstruments 2024-03-30 11483860 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-30 11483860 core:FurnitureFittingsToolsEquipment 2024-03-30 11483860 core:LandBuildings 2024-03-30 11483860 core:MotorVehicles 2024-03-30 11483860 core:OtherPropertyPlantEquipment 2024-03-30 11483860 bus:SmallEntities 2023-04-01 2024-03-30 11483860 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-30 11483860 bus:FilletedAccounts 2023-04-01 2024-03-30 11483860 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-30 11483860 bus:RegisteredOffice 2023-04-01 2024-03-30 11483860 bus:Director1 2023-04-01 2024-03-30 11483860 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-30 11483860 bus:Agent1 2023-04-01 2024-03-30 11483860 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-30 11483860 core:LandBuildings 2023-04-01 2024-03-30 11483860 core:MotorVehicles 2023-04-01 2024-03-30 11483860 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-30 11483860 core:PlantMachinery 2023-04-01 2024-03-30 11483860 countries:UnitedKingdom 2023-04-01 2024-03-30 11483860 2023-03-31 11483860 core:FurnitureFittingsToolsEquipment 2023-03-31 11483860 core:LandBuildings 2023-03-31 11483860 core:MotorVehicles 2023-03-31 11483860 core:OtherPropertyPlantEquipment 2023-03-31 11483860 2022-04-01 2023-03-31 11483860 2023-03-31 11483860 core:CurrentFinancialInstruments 2023-03-31 11483860 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11483860 core:Non-currentFinancialInstruments 2023-03-31 11483860 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11483860 core:FurnitureFittingsToolsEquipment 2023-03-31 11483860 core:LandBuildings 2023-03-31 11483860 core:MotorVehicles 2023-03-31 11483860 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11483860

Barn Door Asset Management Ltd

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 March 2024

 

Barn Door Asset Management Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Barn Door Asset Management Ltd

Company Information

Director




 

A A Sbuttoni

Registered office








 

158 Stafford Road
Wallington
Surrey
SM6 9BS

Accountants

A S Partnership Ltd
Chartered Certified Accountants158 Stafford Road
Wallington
Surrey
SM6 9BS

 

Barn Door Asset Management Ltd

(Registration number: 11483860)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

           

Fixed Assets

   

 

Tangible Assets

4

 

2,139,389

 

2,140,131

Current assets

   

 

Stocks

5

8,241

 

-

 

Debtors

6

438

 

-

 

Cash at bank and in hand

 

16,724

 

62,264

 

 

25,403

 

62,264

 

Creditors: Amounts falling due within one year

7

(23,229)

 

(2,172,404)

 

Net current assets/(liabilities)

   

2,174

 

(2,110,140)

Total assets less current liabilities

   

2,141,563

 

29,991

Creditors: Amounts falling due after more than one year

7

 

(2,131,688)

 

-

Net assets

   

9,875

 

29,991

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Retained earnings

9,775

 

29,891

 

Shareholders' funds

   

9,875

 

29,991

For the financial period ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

As permitted by s444A and s444(5A) of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the directors report, profit and loss account and associated notes.

 

Barn Door Asset Management Ltd

(Registration number: 11483860)
Balance Sheet as at 30 March 2024

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 3 April 2025
 

.........................................
A A Sbuttoni
Director

   
     
 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
158 Stafford Road
Wallington
Surrey
SM6 9BS

These financial statements were authorised for issue by the director on 3 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,137,166

729

4,300

5,696

2,147,891

At 30 March 2024

2,137,166

729

4,300

5,696

2,147,891

Depreciation

At 1 April 2023

-

729

1,720

5,312

7,761

Charge for the period

-

-

645

96

741

At 30 March 2024

-

729

2,365

5,408

8,502

Carrying amount

At 30 March 2024

2,137,166

-

1,935

288

2,139,389

At 31 March 2023

2,137,166

1

2,580

384

2,140,131

Included within the net book value of land and buildings above is £2,137,166 (2023 - £2,137,166) in respect of freehold land and buildings.
 

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

5

Stocks

2024
£

2023
£

Work in progress

8,241

-

6

Debtors

2024
£

2023
£

Trade Debtors

438

-

438

-

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,449

1,905,074

Directors' loan a/cs

11

36

216,141

Other payables

 

5,879

43,073

Accruals

 

3,092

2,237

Corporation Tax

9,773

5,879

 

23,229

2,172,404

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

2,131,688

-

 

Barn Door Asset Management Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,131,688

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,449

1,905,074

10

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend

35,900

2,000

     

11

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2023
£

Remuneration

-

5,000