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COMPANY REGISTRATION NUMBER: 09096416
BARROS TRADING LTD
Filleted Unaudited Financial Statements
30 June 2024
BARROS TRADING LTD
Financial Statements
Year ended 30 June 2024
CONTENTS
PAGES
Statement of Financial Position
1 to 2
Notes to the Financial Statements
3 to 6
BARROS TRADING LTD
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
20,261,665
20,285,544
Current assets
Debtors
6
5,830,848
5,898,357
Cash at bank and in hand
19,129
77,343
-------------
-------------
5,849,977
5,975,700
Creditors: amounts falling due within one year
7
( 1,277,149)
( 1,029,974)
-------------
-------------
Net current assets
4,572,828
4,945,726
---------------
---------------
Total assets less current liabilities
24,834,493
25,231,270
Creditors: amounts falling due after more than one year
8
( 13,472,571)
( 13,869,865)
Provisions
( 2,789,019)
( 2,789,019)
---------------
---------------
Net assets
8,572,903
8,572,386
---------------
---------------
Capital and reserves
Called up share capital
8
8
Revaluation reserve
8,367,056
8,367,056
Profit and loss account
205,839
205,322
-------------
-------------
Shareholders funds
8,572,903
8,572,386
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BARROS TRADING LTD
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:
D J Rosenberg
Director
Company registration number: 09096416
BARROS TRADING LTD
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1b, 1 Bridge Lane, London, NW11 OEA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover of the company is represented by rents and charges receivable in respect of its investment properties.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - i. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and ii. No depreciation is provided in respect of investment properties applying the fair value model.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2023: 28 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
20,000,000
415,085
45,847
12,834
20,473,766
Additions
26,004
339
26,343
--------------
----------
---------
---------
--------------
At 30 June 2024
20,000,000
441,089
45,847
13,173
20,500,109
--------------
----------
---------
---------
--------------
Depreciation
At 1 July 2023
170,765
11,462
5,995
188,222
Charge for the year
40,549
8,596
1,077
50,222
--------------
----------
---------
---------
--------------
At 30 June 2024
211,314
20,058
7,072
238,444
--------------
----------
---------
---------
--------------
Carrying amount
At 30 June 2024
20,000,000
229,775
25,789
6,101
20,261,665
--------------
----------
---------
---------
--------------
At 30 June 2023
20,000,000
244,320
34,385
6,839
20,285,544
--------------
----------
---------
---------
--------------
6. Debtors
2024
2023
£
£
Trade debtors
166,532
162,613
Other debtors
5,664,316
5,735,744
-------------
-------------
5,830,848
5,898,357
-------------
-------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
375,648
375,648
Trade creditors
171,468
201,951
Corporation tax
681
Social security and other taxes
11,399
15,516
Other creditors
718,634
436,178
-------------
-------------
1,277,149
1,029,974
-------------
-------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,566,321
12,963,615
Other creditors
906,250
906,250
---------------
---------------
13,472,571
13,869,865
---------------
---------------
9. Related party transactions
Other creditors include amounts totalling £15,371 (2023: £82,631) due to the directors. The loan is interest free and repayable on demand.