Barn & Brook Limited 07718537 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Manufacture of kitchen furniture Digita Accounts Production Advanced 6.30.9574.0 true 07718537 2023-09-01 2024-08-31 07718537 2024-08-31 07718537 bus:OrdinaryShareClass1 2024-08-31 07718537 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 07718537 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 07718537 core:CurrentFinancialInstruments 2024-08-31 07718537 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 07718537 core:Non-currentFinancialInstruments 2024-08-31 07718537 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 07718537 core:FurnitureFittingsToolsEquipment 2024-08-31 07718537 core:LandBuildings 2024-08-31 07718537 core:MotorVehicles 2024-08-31 07718537 core:OtherPropertyPlantEquipment 2024-08-31 07718537 bus:SmallEntities 2023-09-01 2024-08-31 07718537 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 07718537 bus:FullAccounts 2023-09-01 2024-08-31 07718537 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07718537 bus:RegisteredOffice 2023-09-01 2024-08-31 07718537 bus:Director1 2023-09-01 2024-08-31 07718537 bus:Director2 2023-09-01 2024-08-31 07718537 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 07718537 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07718537 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 07718537 core:LandBuildings 2023-09-01 2024-08-31 07718537 core:MotorVehicles 2023-09-01 2024-08-31 07718537 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 07718537 countries:England 2023-09-01 2024-08-31 07718537 2023-08-31 07718537 core:FurnitureFittingsToolsEquipment 2023-08-31 07718537 core:LandBuildings 2023-08-31 07718537 core:MotorVehicles 2023-08-31 07718537 core:OtherPropertyPlantEquipment 2023-08-31 07718537 2022-09-01 2023-08-31 07718537 2023-08-31 07718537 bus:OrdinaryShareClass1 2023-08-31 07718537 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 07718537 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 07718537 core:CurrentFinancialInstruments 2023-08-31 07718537 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 07718537 core:Non-currentFinancialInstruments 2023-08-31 07718537 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 07718537 core:FurnitureFittingsToolsEquipment 2023-08-31 07718537 core:LandBuildings 2023-08-31 07718537 core:MotorVehicles 2023-08-31 07718537 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07718537

Barn & Brook Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Barn & Brook Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Barn & Brook Limited

(Registration number: 07718537)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

283,600

235,954

Current assets

 

Stocks

6

74,383

43,167

Debtors

7

17,460

72,652

Cash at bank and in hand

 

31,533

43,040

 

123,376

158,859

Creditors: Amounts falling due within one year

8

(318,976)

(330,361)

Net current liabilities

 

(195,600)

(171,502)

Total assets less current liabilities

 

88,000

64,452

Creditors: Amounts falling due after more than one year

8

(36,948)

(47,165)

Net assets

 

51,052

17,287

Capital and reserves

 

Called up share capital

9

12

12

Retained earnings

51,040

17,275

Shareholders' funds

 

51,052

17,287

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

 

Barn & Brook Limited

(Registration number: 07718537)
Balance Sheet as at 31 August 2024

.........................................
Mrs S Davies
Director

.........................................
Mr C Forster
Director

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 10 Fosseway Business Park
Stratford Road
Moreton in Marsh
GL56 9NQ

These financial statements were authorised for issue by the Board on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

36,521

38,513

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

84,371

67,860

79,995

168,474

400,700

Additions

43,944

2,597

-

37,627

84,168

At 31 August 2024

128,315

70,457

79,995

206,101

484,868

Depreciation

At 1 September 2023

-

51,823

21,123

91,800

164,746

Charge for the year

-

4,659

14,718

17,145

36,522

At 31 August 2024

-

56,482

35,841

108,945

201,268

Carrying amount

At 31 August 2024

128,315

13,975

44,154

97,156

283,600

At 31 August 2023

84,372

16,036

58,872

76,674

235,954

Included within the net book value of land and buildings above is £128,315 (2023 - £84,372) in respect of short leasehold land and buildings.
 

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Other inventories

74,383

43,167

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,811

44,304

Prepayments

8,282

9,012

Other debtors

3,367

19,336

 

17,460

72,652

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

28,562

19,283

Trade creditors

 

64,564

54,947

Taxation and social security

 

18,338

18,714

Accruals and deferred income

 

2,795

6,000

Other creditors

 

204,717

231,417

 

318,976

330,361

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

36,948

47,165

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 of £1 each

12

12

12

12

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,448

19,165

Hire purchase contracts

30,500

28,000

36,948

47,165

Current loans and borrowings

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Bank borrowings

12,000

11,283

Hire purchase contracts

16,562

8,000

28,562

19,283

11

Related party transactions

 

Barn & Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

20,440

25,486