1 August 2023 false No description of principal activity Taxfiler 2024.6 13519571business:PrivateLimitedCompanyLtd2023-08-012024-07-31 135195712023-07-31 135195712023-08-012024-07-31 13519571business:AuditExempt-NoAccountantsReport2023-08-012024-07-31 13519571business:FilletedAccounts2023-08-012024-07-31 135195712024-07-31 13519571business:Director12023-08-012024-07-31 13519571business:Director22023-08-012024-07-31 13519571business:RegisteredOffice2023-08-012024-07-31 135195712023-07-31 13519571core:WithinOneYear2024-07-31 13519571core:WithinOneYear2023-07-31 13519571core:AfterOneYear2024-07-31 13519571core:AfterOneYear2023-07-31 13519571core:ShareCapitalcore:PreviouslyStatedAmount2024-07-31 13519571core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 13519571core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-07-31 13519571core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 13519571core:PreviouslyStatedAmount2024-07-31 13519571core:PreviouslyStatedAmount2023-07-31 13519571business:SmallEntities2023-08-012024-07-31 13519571countries:EnglandWales2023-08-012024-07-31 13519571core:LandBuildings2023-08-012024-07-31 13519571core:PlantMachinery2023-08-012024-07-31 13519571core:Goodwill2023-07-31 13519571core:Goodwill2024-07-31 13519571core:Goodwill2023-08-012024-07-31 13519571core:LandBuildings2023-07-31 13519571core:PlantMachinery2023-07-31 13519571core:LandBuildings2024-07-31 13519571core:PlantMachinery2024-07-31 13519571core:MoreThanFiveYears2024-07-31 13519571core:MoreThanFiveYears2023-07-31 13519571core:AfterOneYear2023-08-012024-07-31 135195712022-08-012023-07-31 iso4217:GBP xbrli:pure
Company Registration No. 13519571 (England and Wales)
BARRIER REEF LIMITED Unaudited accounts for the year ended 31 July 2024
BARRIER REEF LIMITED Unaudited accounts Contents
Page
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BARRIER REEF LIMITED Company Information for the year ended 31 July 2024
Directors
Ciji Jacob Sreethika Jayasankar
Company Number
13519571 (England and Wales)
Registered Office
Highfield House Princess Margaret Avenue Metheringham Lincoln LN4 3DA United Kingdom
Accountants
BINU JACOB 20 Blackthorne Close Bolton NORTHWEST BL1 5NL
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BARRIER REEF LIMITED Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
59,500 
68,000 
Tangible assets
277,090 
286,854 
336,590 
354,854 
Current assets
Inventories
3,205 
2,970 
Cash at bank and in hand
1,963 
3,468 
5,168 
6,438 
Creditors: amounts falling due within one year
(214,502)
(212,475)
Net current liabilities
(209,334)
(206,037)
Total assets less current liabilities
127,256 
148,817 
Creditors: amounts falling due after more than one year
(190,883)
(191,663)
Provisions for liabilities
Deferred tax
(1,746)
(2,518)
Net liabilities
(65,373)
(45,364)
Capital and reserves
Called up share capital
103 
103 
Profit and loss account
(65,476)
(45,467)
Shareholders' funds
(65,373)
(45,364)
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by
Ciji Jacob Director Company Registration No. 13519571
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BARRIER REEF LIMITED Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
BARRIER REEF LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13519571. The registered office is Highfield House, Princess Margaret Avenue, Metheringham, Lincoln, LN4 3DA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on the cost
Plant & machinery
20% on the cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The goodwill has been amortised over the estimated life of 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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BARRIER REEF LIMITED Notes to the Accounts for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
85,000 
At 31 July 2024
85,000 
Amortisation
At 1 August 2023
17,000 
Charge for the year
8,500 
At 31 July 2024
25,500 
Net book value
At 31 July 2024
59,500 
At 31 July 2023
68,000 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
285,000 
20,318 
305,318 
At 31 July 2024
285,000 
20,318 
305,318 
Depreciation
At 1 August 2023
11,400 
7,064 
18,464 
Charge for the year
5,700 
4,064 
9,764 
At 31 July 2024
17,100 
11,128 
28,228 
Net book value
At 31 July 2024
267,900 
9,190 
277,090 
At 31 July 2023
273,600 
13,254 
286,854 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
8,550 
8,550 
VAT
6,084 
5,287 
Taxes and social security
310 
281 
Other creditors
168 
157 
Loans from directors
198,140 
196,950 
Accruals
1,250 
1,250 
214,502 
212,475 
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BARRIER REEF LIMITED Notes to the Accounts for the year ended 31 July 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
190,883 
191,663 
Aggregate of amounts that fall due for payment after five years
156,683 
157,463 
The bank loans are secured on the property oswned by the company.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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