Registered number
04272708
Barmont Properties Limited
Filleted Accounts
31 July 2024
Barmont Properties Limited
Registered number: 04272708
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 5,020,000 5,240,000
Investments 4 67,319 32,225
5,087,319 5,272,225
Current assets
Debtors 5 472,501 511,394
Cash at bank and in hand 8,290 119,714
480,791 631,108
Creditors: amounts falling due within one year 6 (26,178) (109,080)
Net current assets 454,613 522,028
Total assets less current liabilities 5,541,932 5,794,253
Creditors: amounts falling due after more than one year 7 (1,682,227) (1,872,229)
Provisions for liabilities (371,698) (340,088)
Net assets 3,488,007 3,581,936
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 1,883,423 1,965,407
Profit and loss account 1,603,584 1,615,529
Shareholders' funds 3,488,007 3,581,936
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Rory Barlow
Director
Approved by the board on 27 March 2025
Barmont Properties 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.
Investment property
Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
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:
Fixtures, fittings, tools and equipment 33%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 2 2
3 Investment property 2024 2023
£ £
B/fwd 5,240,000 6,060,000
Additions - -
Revaluation - -
Disposals (220,000) (820,000)
5,020,000 5,240,000
Historical cost
At 1 August 2023 3,281,682
At 31 July 2024 3,164,684
4 Investments
Other
investments
£
Cost
At 1 August 2023 32,225
Additions 35,094
At 31 July 2024 67,319
Historical cost
At 1 August 2023 25,135
At 31 July 2024 39,212
5 Debtors 2024 2023
£ £
Amounts owed by joint ventures and associated undertakings 472,501 500,758
Other debtors - 10,636
472,501 511,394
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 5,175
Taxation and social security costs 4,396 77,326
Other creditors 21,782 26,579
26,178 109,080
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,682,227 1,872,229
8 Revaluation reserve 2024 2023
£ £
At 1 August 2023 1,965,407 2,277,029
Loss on investments (81,984) (311,622)
At 31 July 2024 1,883,423 1,965,407
9 Related party transactions
Included within other creditors is a Director's loan balance of £7,746 owed by the Company, (2023 £5,908). No interest is charged on this balance and it is repayable on demand.
Included within other creditors is a Director's loan balance of £7,746 owed by the Company, (2023 £5,908). No interest is charged on this balance and it is repayable on demand.
Barmont Ventures Ltd is a related party of the company by virtue of having shareholders in common. At the year end the Company was owed £472,501 by Barmont Ventures Ltd (2023: £500,757 owed to Barmont Ventures Ltd). No interest is payable on this balance and it is repayable on demand.
10 Other information
Barmont Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bakehouse
Downs Park East
Bristol
BS6 7QD
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