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Registered number: 06543668








 
GREEN FARM BARNS (KNAPTON) LIMITED
 
UNAUDITED
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 31 MARCH 2025

 
GREEN FARM BARNS (KNAPTON) LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 9


 
GREEN FARM BARNS (KNAPTON) LIMITED
REGISTERED NUMBER:06543668

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
224
280

Investment property
 5 
235,000
235,000

  
235,224
235,280

Current assets
  

Debtors: amounts falling due within one year
 6 
228
222

Cash at bank and in hand
 7 
4,018
4,372

  
4,246
4,594

Creditors: amounts falling due within one year
 8 
(4,466)
(5,366)

Net current liabilities
  
 
 
(220)
 
 
(772)

Total assets less current liabilities
  
235,004
234,508

Creditors: amounts falling due after more than one year
 9 
(77,958)
(77,958)

Provisions for liabilities
  

Deferred tax
 10 
(21,057)
(21,067)

  
 
 
(21,057)
 
 
(21,067)

Net assets
  
135,989
135,483


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 11 
89,587
89,587

Profit and loss account
 11 
46,302
45,796

  
135,989
135,483


Page 1

 
GREEN FARM BARNS (KNAPTON) LIMITED
REGISTERED NUMBER:06543668
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2025.

................................................
Ms E A T Purdy
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Green Farm Barns (Knapton) Limited is a private company limited by shares registered in England and Wales. The company number is given on the front cover of these financial statements, and the  registered office address is 62 Park Lane, Norwich, Norfolk, NR2 3EF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

Almost all of the company's creditors balance is with the directors of the company. The company is reliant on these creditors not being called in however, this is not expected to happen in the short term as the directors have expressed their willingness to continue to support the company. On this basis the directors have a reasonable expectation that the company will have the adequate resources to continue in operational existence for the forseeable future and therefore the accounts are prepared on a going concern basis.

Page 3

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Directors
5
5


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2024
438



At 31 March 2025

438



Depreciation


At 1 April 2024
158


Charge for the year on owned assets
56



At 31 March 2025

214



Net book value



At 31 March 2025
224



At 31 March 2024
280

Page 6

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
235,000



At 31 March 2025
235,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2025
2024
£
£


Historic cost
124,399
124,399

124,399
124,399


6.


Debtors

2025
2024
£
£


Prepayments and accrued income
228
222

228
222



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
4,018
4,372

4,018
4,372


Page 7

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
1,497
-

Corporation tax
329
2,846

Accruals and deferred income
2,640
2,520

4,466
5,366



9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other creditors
77,958
77,958

77,958
77,958



10.


Deferred taxation




2025


£






At beginning of year
21,067


Charged to profit or loss
(10)



At end of year
21,057

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
43
53

Investment property revaluation
21,014
21,014

21,057
21,067

Page 8

 
GREEN FARM BARNS (KNAPTON) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior period revaluations on investment properties where the fair value of a property exceeded its original cost.

Profit & loss account

The profit and loss account includes all current and prior period retained profit and losses.


12.


Related party transactions

At the year end the company owed the directors £77,958 (2024: £77,958) which is repayable on demand.

 
Page 9