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REGISTERED NUMBER: 04354716 (England and Wales)












Barepta Cove Limited

Unaudited Financial Statements

for the Year Ended 31st July 2024






Barepta Cove Limited (Registered number: 04354716)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Barepta Cove Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: S P Neal
A Hobbs
Ms S Ager





SECRETARY: Mrs M L Neal





REGISTERED OFFICE: Cornerstone
Tresowes Green
Ashton
Helston
Cornwall
TR13 9SY





REGISTERED NUMBER: 04354716 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Barepta Cove Limited (Registered number: 04354716)

Statement of Financial Position
31st July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 114,776 150,144

CURRENT ASSETS
Stocks 1,909,894 1,631,793
Debtors 5 65,834 88,544
Cash at bank 2,339 93,630
1,978,067 1,813,967
CREDITORS
Amounts falling due within one year 6 (2,067,722 ) (1,530,763 )
NET CURRENT (LIABILITIES)/ASSETS (89,655 ) 283,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,121

433,348

CREDITORS
Amounts falling due after more than one
year

7

(59,558

)

(69,537

)

PROVISIONS FOR LIABILITIES (21,808 ) (28,527 )
NET (LIABILITIES)/ASSETS (56,245 ) 335,284

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings (156,245 ) 235,284
(56,245 ) 335,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

Barepta Cove Limited (Registered number: 04354716)

Statement of Financial Position - continued
31st July 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 10th April 2025 and were signed on its behalf by:




S P Neal - Director



Ms S Ager - Director


Barepta Cove Limited (Registered number: 04354716)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Barepta Cove 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.

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

Revenue is recognised in the period in which the work is completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Barepta Cove Limited (Registered number: 04354716)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2023 218,729 30,974 2,512 252,215
Additions 2,765 - - 2,765
At 31st July 2024 221,494 30,974 2,512 254,980
DEPRECIATION
At 1st August 2023 87,181 13,551 1,339 102,071
Charge for year 33,149 4,356 628 38,133
At 31st July 2024 120,330 17,907 1,967 140,204
NET BOOK VALUE
At 31st July 2024 101,164 13,067 545 114,776
At 31st July 2023 131,548 17,423 1,173 150,144

Barepta Cove Limited (Registered number: 04354716)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st August 2023
and 31st July 2024 112,832 30,974 143,806
DEPRECIATION
At 1st August 2023 16,925 13,551 30,476
Charge for year 16,925 4,356 21,281
At 31st July 2024 33,850 17,907 51,757
NET BOOK VALUE
At 31st July 2024 78,982 13,067 92,049
At 31st July 2023 95,907 17,423 113,330

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 9,032 7,585
Directors' current accounts 45,299 -
VAT 11,503 35,409
Prepayments - 45,550
65,834 88,544

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 127,998 158,000
Hire purchase contracts 28,826 28,826
Trade creditors 1,244 42,289
Tax 9,108 80
Other creditors 2,375 -
Directors' current accounts 1,488,001 1,288,732
Accrued expenses 410,170 12,836
2,067,722 1,530,763

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 59,558 69,537

Barepta Cove Limited (Registered number: 04354716)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

31.7.24 31.7.23
£    £   
S P Neal
Balance outstanding at start of year - -
Amounts advanced 45,298 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,298 -

The amount advanced in the year to the director, Mr S P Neal, has no terms. Interest has been charged by the company per the rate prescribed by HMRC.

The loan will be fully repaid within nine months after the year end.