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Registration number: 09169729

Barbourne Brook Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Barbourne Brook Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Barbourne Brook Limited

Company Information

Directors

Mrs M Jenkins

Mr RK Jenkins

Mr CR Hare

Mr AJ Wood

Registered office

Hop Merchants
21 Sansome Street
Worcester
WR1 1UH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Barbourne Brook Limited

(Registration number: 09169729)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

161,711

112,113

Tangible assets

5

8,070

5,932

 

169,781

118,045

Current assets

 

Stocks

6

2,218

27,895

Debtors

7

244,781

132,182

Cash at bank and in hand

 

219,150

142,199

 

466,149

302,276

Creditors: Amounts falling due within one year

8

(282,630)

(257,931)

Net current assets

 

183,519

44,345

Total assets less current liabilities

 

353,300

162,390

Creditors: Amounts falling due after more than one year

8

(280,775)

(124,345)

Provisions for liabilities

(41,119)

(15,820)

Net assets

 

31,406

22,225

Capital and reserves

 

Called up share capital

2

2

Retained earnings

31,404

22,223

Shareholders' funds

 

31,406

22,225

For the financial year ending 31 December 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the Board on 24 July 2025 and signed on its behalf by:
 

 

Barbourne Brook Limited

(Registration number: 09169729)
Balance Sheet as at 31 December 2024

.........................................
Mrs M Jenkins
Director

   
     
 

Barbourne Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Hop Merchants
21 Sansome Street
Worcester
WR1 1UH
Great Britain

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Barbourne Brook Limited

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

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 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.

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

Fixtures and Fittings

5 years straight line

Computer Equipment

3 years straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other Intangible Assets

5 years straight line

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.

 

Barbourne Brook Limited

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

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

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.

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.

 

Barbourne Brook Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

 

Barbourne Brook Limited

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

148,533

148,533

Additions acquired separately

91,575

91,575

At 31 December 2024

240,108

240,108

Amortisation

At 1 January 2024

36,421

36,421

Amortisation charge

41,976

41,976

At 31 December 2024

78,397

78,397

Carrying amount

At 31 December 2024

161,711

161,711

At 31 December 2023

112,113

112,113

 

Barbourne Brook Limited

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

Note to the Accounts: Development Costs
In accordance with section 884(3) of the Companies Act 2006, the directors have determined that the development costs capitalised in these accounts are not to be treated as a realised loss for the purposes of sections 830 and 832 of the Act.

Special Circumstances Justifying Treatment
The directors consider that there are special circumstances justifying this treatment, namely:

1. Commercial Viability and Expected Economic Benefit
The development activities relate to the creation of a proprietary software solution which has progressed beyond the research phase and has entered into a commercially viable stage of development. The directors are satisfied that the product will generate future economic benefits and cash inflows, evidenced by:
o Interest from prospective customers and existing client demand.
o Letters of intent or agreements with commercial partners or clients.
o Market analysis indicating a strong commercial opportunity for the product.

2. Recoverability and Realisability of Costs
The directors have conducted a recoverability assessment under IAS 38 / FRS 102, and are satisfied that the capitalised development costs are fully recoverable. There is no indication of impairment at the balance sheet date. The company has a reasonable expectation of recovering these costs through future revenue streams.

3. Strategic Importance to Business Model
The development activity forms a core part of the company’s strategic plan and is expected to contribute significantly to the company’s future profitability, either through direct licensing revenues, efficiency improvements, or enhanced service offerings.

Accordingly, the directors believe it would be misleading to treat the capitalised development costs as a realised loss, given their anticipated contribution to the company’s future performance and the evidence supporting the expected return on investment.
This treatment is in compliance with applicable accounting standards and reflects a true and fair view of the company’s financial position.
The company has already commenced generating income related to the development activity, and early commercial indicators support the directors’ expectation that the investment will yield economic returns over the short to medium term.
 

 

Barbourne Brook Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

14,454

14,454

Additions

4,504

4,504

At 31 December 2024

18,958

18,958

Depreciation

At 1 January 2024

8,522

8,522

Charge for the year

2,366

2,366

At 31 December 2024

10,888

10,888

Carrying amount

At 31 December 2024

8,070

8,070

At 31 December 2023

5,932

5,932

6

Stocks

2024
£

2023
£

Other inventories

2,218

27,895

7

Debtors

Current

2024
£

2023
£

Trade debtors

205,739

99,644

Amounts owed by connected companies

-

1,620

Prepayments

20,887

4,397

Other debtors

18,155

26,521

 

244,781

132,182

 

Barbourne Brook Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

98,609

58,112

Trade creditors

 

5,440

15,019

Taxation and social security

 

115,431

135,985

Accruals and deferred income

 

56,387

38,698

Other creditors

 

6,763

10,117

 

282,630

257,931

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

280,775

124,345

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

280,775

124,345

Current loans and borrowings

2024
£

2023
£

Bank borrowings

98,609

58,112

The above bank borrowings are secured by fixed and floating charges over the assets of the company.

 

Barbourne Brook Limited

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

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mrs M Jenkins

Interest bearing loan

(13,402)

(82,631)

90,225

(5,808)

Mr RK Jenkins

Interest bearing loan

(13,120)

(89,589)

90,000

(12,709)

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Mrs M Jenkins

Interest bearing loan

(12,832)

(570)

(13,402)

Mr RK Jenkins

Interest bearing loan

(12,832)

(288)

(13,120)

At the year end, there is an amount owed by the directors to the company of £18,517, (2023 - £26,522). This amount is included within 'other debtors' in note 5 to the financial statements. The loan is interest bearing.