Registered number
09665942
BARNFIELD POINT LIMITED
Filleted Accounts
31 July 2024
BARNFIELD POINT LIMITED
Registered number: 09665942
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,753 19,691
15,753 19,691
Current assets
Stocks 79,906 82,262
Cash at bank and in hand 17,011 16,150
96,917 98,412
Creditors: amounts falling due within one year 4 (83,272) (74,553)
Net current assets 13,645 23,859
Total assets less current liabilities 29,398 43,550
Creditors: amounts falling due after more than one year 5 (20,875) (35,120)
Net assets 8,523 8,430
Capital and reserves
Called up share capital 1 1
Share premium - -
Revaluation reserve - -
Profit and loss account 8,522 8,429
Shareholder's funds 8,523 8,430
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Aktan Demir
Director
Approved by the board on 16 April 2025
BARNFIELD POINT LIMITED
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 - 6,117 21,995 28,112
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 31 July 2024 - 6,117 21,995 28,112
Depreciation
At 1 August 2023 - 4,243 4,178 8,421
Charge for the year - 375 3,563 3,938
Surplus on revaluation - - - -
On disposals - - - -
At 31 July 2024 - 4,618 7,741 12,359
Net book value
At 31 July 2024 - 1,499 14,254 15,753
At 31 July 2023 - 1,874 17,817 19,691
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 30,875 22,290
Taxation and social security costs 13,926 11,285
Director's accounts 38,471 40,978
83,272 74,553
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,875 30,856
Obligations under finance lease and hire purchase contracts - 4,264
20,875 35,120
6 Controlling party
Aktan Demir
7 Other information
BARNFIELD POINT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
587 - 589 London Road
Grays
Essex
RM20 4AR
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