Company registration number 04159036 (England and Wales)
BARNES OF LINCOLN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
BARNES OF LINCOLN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BARNES OF LINCOLN LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
558,216
637,128
Current assets
Debtors
5
87,632
51,929
Cash at bank and in hand
136,242
116,171
223,874
168,100
Creditors: amounts falling due within one year
6
(154,546)
(167,828)
Net current assets
69,328
272
Total assets less current liabilities
627,544
637,400
Provisions for liabilities
(39,224)
(48,007)
Net assets
588,320
589,393
Capital and reserves
Called up share capital
7
360
360
Profit and loss reserves
8
587,960
589,033
Total equity
588,320
589,393

The notes on pages 2 to 6 form part of these 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 June 2025 and are signed on its behalf by:
D J M Vitoria
Director
Company registration number 04159036 (England and Wales)
BARNES OF LINCOLN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

Barnes of Lincoln Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hillsons Road, Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Whitport Limited. These consolidated financial statements are available from its registered office, Hillsons Road Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue arising from services provided is recognised in the period in which the services are provided to customers. Revenue is measured at fair value at the consideration received or receivable, excluding discounts, rebates, and other sales taxes.

1.4
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.

BARNES OF LINCOLN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -

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:

Freehold land and buildings
2% per annum on cost
Plant and equipment
15% to 33.33% per annum on book value
Motor vehicles
11% to 25% per annum on book value
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as profit or loss in the year.

1.6
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.

1.7
Employee benefits

The company operates defined contribution pension schemes. Payments are charged to revenue as incurred.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BARNES OF LINCOLN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

It is considered that the company has no significant judgements, estimates and assumptions that would have a material impact on the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
22
23
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
637,135
180,364
657,689
1,475,188
Additions
-
0
18,489
-
0
18,489
Disposals
-
0
-
0
(42,317)
(42,317)
At 31 January 2025
637,135
198,853
615,372
1,451,360
Depreciation and impairment
At 1 February 2024
365,704
175,906
296,450
838,060
Depreciation charged in the year
12,717
3,866
80,818
97,401
Eliminated in respect of disposals
-
0
-
0
(42,317)
(42,317)
At 31 January 2025
378,421
179,772
334,951
893,144
Carrying amount
At 31 January 2025
258,714
19,081
280,421
558,216
At 31 January 2024
271,431
4,458
361,239
637,128
BARNES OF LINCOLN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
15,773
15,592
Corporation tax recoverable
-
0
7,700
Amounts owed by group undertakings
12,258
-
0
Other debtors
1,203
1,311
Prepayments and accrued income
58,398
27,326
87,632
51,929
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
65,234
56,893
Amounts owed to group undertakings
250
13,907
Taxation and social security
50,248
56,901
Other creditors
2,623
2,872
Accruals and deferred income
36,191
37,255
154,546
167,828
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
360
360
360
360
8
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
589,033
639,384
Loss for the year
(1,073)
(50,351)
At the end of the year
587,960
589,033
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

BARNES OF LINCOLN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
9
Audit report information
(Continued)
- 6 -
Senior Statutory Auditor:
Mark Gregory ACA
Statutory Auditor:
Fiander Tovell Limited
Date of audit report:
19 June 2025
10
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
107,050
-
11
Related party transactions

The company has taken advantage of the exemptions contained in Financial Reporting Standard 102. The company has not disclosed transactions with other group companies on the grounds that it is a wholly owned subsidiary and the group consolidated accounts are publicly available from Hillsons Road Bottings Industrial Estate, Botley, Southampton, England, SO30 2DY.

12
Parent company

The company is a wholly owned subsidiary of Whitport Limited, a company registered in England and Wales. There is no ultimate controlling party in Whitport Limited.

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