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
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
BARRIER REEF LIMITED
Statement of financial position
as at 31 July 2024
Intangible assets
59,500
68,000
Tangible assets
277,090
286,854
Cash at bank and in hand
1,963
3,468
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)
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
BARRIER REEF LIMITED
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (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 have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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.
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.
BARRIER REEF LIMITED
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill
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
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
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
Taxes and social security
310
281
Loans from directors
198,140
196,950
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).