Company registration number 10467361 (England and Wales)
BARNSTORE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BARNSTORE LTD
COMPANY INFORMATION
Directors
Mrs A Davison-White
Mr M Davison-White
Company number
10467361
Registered office
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
Business address
4 Rutland Cottages
Back Street
Leeds
Maidstone
Kent
England
ME17 1TE
BARNSTORE LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Statement of comprehensive income
4
Balance sheet
5
Statement of changes in equity
6
Notes to the financial statements
7 - 10
BARNSTORE LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -
The directors present their annual report and financial statements for the year ended 30 November 2024.
Principal activities
The principal activity of the company continued to be that of consultancy and development regarding the letting and operating of own or leased real estate.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs A Davison-White
Mr M Davison-White
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs A Davison-White
Director
28 May 2025
BARNSTORE LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BARNSTORE LTD FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barnstore Ltd for the year ended 30 November 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Barnstore Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Barnstore Ltd and state those matters that we have agreed to state to the board of directors of Barnstore Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barnstore Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Barnstore Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barnstore Ltd. You consider that Barnstore Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Barnstore Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
28 May 2025
BARNSTORE LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
2024
2023
£
£
Turnover
114,098
105,000
Cost of sales
(82,000)
Gross profit
32,098
105,000
Administrative expenses
(13,033)
(80,316)
Operating profit
19,065
24,684
Interest payable and similar expenses
1
(3)
Profit before taxation
19,066
24,681
Tax on profit
(3,688)
(4,923)
Profit for the financial year
15,378
19,758
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BARNSTORE LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
2024
2023
£
£
Profit for the year
15,378
19,758
Other comprehensive income
-
-
Total comprehensive income for the year
15,378
19,758
BARNSTORE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
512
768
Current assets
Stocks
-
82,000
Debtors
4
717
Cash at bank and in hand
56,726
76,004
56,726
158,721
Creditors: amounts falling due within one year
5
(8,459)
(13,524)
Net current assets
48,267
145,197
Total assets less current liabilities
48,779
145,965
Provisions for liabilities
(128)
(192)
Net assets
48,651
145,773
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
48,551
145,673
Total equity
48,651
145,773
For the financial year ended 30 November 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mrs A Davison-White
Director
Company registration number 10467361 (England and Wales)
BARNSTORE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 December 2022
100
221,415
221,515
Year ended 30 November 2023:
Profit and total comprehensive income
-
19,758
19,758
Dividends
-
(95,500)
(95,500)
Balance at 30 November 2023
100
145,673
145,773
Year ended 30 November 2024:
Profit and total comprehensive income
-
15,378
15,378
Dividends
-
(112,500)
(112,500)
Balance at 30 November 2024
100
48,551
48,651
BARNSTORE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
1
Accounting policies
Company information
Barnstore Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Conqueror Court, Sittingbourne, Kent, United Kingdom, ME10 5BH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
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 rendering of services.
Turnover from the rendering of consultancy 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computer Equipment
25% on reducing balancre
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Inventories have been valued at the lower of cost and net realisable value estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
BARNSTORE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 8 -
1.6
Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.
Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.
Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.9
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
BARNSTORE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 9 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Fixtures and fittings
Computer Equipment
Total
£
£
£
Cost
At 1 December 2023 and 30 November 2024
1,427
1,330
2,757
Depreciation and impairment
At 1 December 2023
1,072
917
1,989
Depreciation charged in the year
119
137
256
At 30 November 2024
1,191
1,054
2,245
Carrying amount
At 30 November 2024
236
276
512
At 30 November 2023
355
413
768
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
717
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
4,675
9,920
Other creditors
3,784
3,604
8,459
13,524
6
Operating lease commitments
As lessee
BARNSTORE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
6
Operating lease commitments
(Continued)
- 10 -
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total commitments
1,284