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Company Registration number: 10899739

Eden Barn Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 August 2024

 

Eden Barn Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Eden Barn Limited

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

747,893

429,418

Current assets

 

Stocks

6

17,933

25,581

Debtors

7

26,273

68,816

Cash at bank and in hand

 

536,207

579,574

 

580,413

673,971

Creditors: Amounts falling due within one year

8

(501,421)

(437,246)

Net current assets

 

78,992

236,725

Total assets less current liabilities

 

826,885

666,143

Creditors: Amounts falling due after more than one year

8

(15,936)

(25,419)

Provisions for liabilities

(35,340)

(8,189)

Net assets

 

775,609

632,535

Capital and reserves

 

Called up share capital

100

100

Retained earnings

775,509

632,435

Shareholders' funds

 

775,609

632,535

 

Eden Barn Limited

Balance Sheet as at 31 August 2024 (continued)

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 10899739

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
Mr R C Harker
Director

 

Eden Barn Limited

Notes to the 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 and Wales.

The address of its registered office is:
Swaledale House
Little Musgrave
Kirkby Stephen
CA17 4PQ

These financial statements were authorised for issue by the Board on 27 January 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

 

Eden Barn Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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 and deferred 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 corporation 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Fixtures and fittings

20% reducing balance

Property improvements

5% straight line

Freehold buildings

No depreciation

 

Eden Barn Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Leases

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.

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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 5).

4

PROFIT BEFORE TAX

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

64,828

60,141

 

Eden Barn Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

5

TANGIBLE ASSETS

Property and improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Office equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

419,993

48,350

139,930

4,546

44,106

656,925

Additions

325,287

53,995

-

-

4,021

383,303

At 31 August 2024

745,280

102,345

139,930

4,546

48,127

1,040,228

Depreciation

At 1 September 2023

143,359

22,517

37,881

2,322

21,429

227,508

Charge for the year

21,368

11,662

25,512

945

5,340

64,827

At 31 August 2024

164,727

34,179

63,393

3,267

26,769

292,335

Carrying amount

At 31 August 2024

580,553

68,166

76,537

1,279

21,358

747,893

At 31 August 2023

276,635

25,833

102,049

2,224

22,677

429,418

 

Eden Barn Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

6

STOCKS

2024
£

2023
£

Stocks

17,933

25,581

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

25,584

11,704

Prepayments

689

240

Other debtors

-

56,872

 

26,273

68,816

8

CREDITORS

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

11,249

21,365

Trade creditors

 

5,131

5,976

Taxation and social security

 

63,356

45,206

Accruals and deferred income

 

258,742

364,699

Other creditors

 

162,943

-

 

501,421

437,246

Creditors include bank loans and hire purchase contracts which are secured of £nil (2023 - £9,000).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,936

25,419

Creditors include bank loans and hire purchase contracts which are secured of £nil (2023 - £nil).

 

Eden Barn Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

9

LOANS AND BORROWINGS

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,936

25,419

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,249

12,365

Hire purchase contracts

-

9,000

11,249

21,365

10

RELATED PARTY TRANSACTIONS

Transactions with directors

2024

At 1 September 2023
£

Repayments by director
£

At 31 August 2024
£

Overdrawn director's loan account

32,136

(32,136)

-

 

2023

At 1 September 2022
£

Advances to director
£

At 31 August 2023
£

Overdrawn director's loan account

-

32,136

32,136