Registration number: 08466866

The Tythe Barn Launton Limited

(Registration number: 08466866)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	165,177	184,802
Tangible assets	5	806,549	820,731
		971,726	1,005,533
Current assets
Stocks		5,781	6,319
Debtors	6	94,269	82,800
Cash at bank and in hand		1,005,598	720,095
		1,105,648	809,214
Creditors: Amounts falling due within one year	7	(1,218,777)	(1,080,379)
Net current liabilities		(113,129)	(271,165)
Total assets less current liabilities		858,597	734,368
Provisions for liabilities		(116,930)	(90,601)
Net assets		741,667	643,767
Capital and reserves
Called up share capital	8	100	100
Retained earnings		741,567	643,667
Shareholders' funds		741,667	643,767

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 and 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.

The Tythe Barn Launton Limited

(Registration number: 08466866)
Balance Sheet as at 31 December 2024 (continued)

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

Mr W A Deeley Company secretary and director

The Tythe Barn Launton 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:
The Tythe Barn
Charbridge Lane
Launton
Bicester
Oxon
OX26 4SR
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 2025.

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.

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 Tythe Barn Launton Limited

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

2	Accounting policies (continued)

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.

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.

The Tythe Barn Launton Limited

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

2	Accounting policies (continued)

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	15% reducing balance
Plant and machinery	15% reducing balance
Motor vehicles	25% reducing balance
Leasehold improvements	10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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
Goodwill	20 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. 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.

The Tythe Barn Launton Limited

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

2	Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

The Tythe Barn Launton Limited

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

2	Accounting policies (continued)

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 20).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	392,500	392,500
At 31 December 2024	392,500	392,500
Amortisation
At 1 January 2024	207,698	207,698
Amortisation charge	19,625	19,625
At 31 December 2024	227,323	227,323
Carrying amount
At 31 December 2024	165,177	165,177
At 31 December 2023	184,802	184,802

The Tythe Barn Launton Limited

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

5	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	682,239	199,617	200,804	68,082	1,150,742
Additions	56,313	31,609	7,644	-	95,566
Disposals	-	-	(902)	-	(902)
At 31 December 2024	738,552	231,226	207,546	68,082	1,245,406
Depreciation
At 1 January 2024	105,965	59,186	105,031	59,829	330,011
Charge for the year	66,926	24,572	15,953	2,063	109,514
Eliminated on disposal	-	-	(668)	-	(668)
At 31 December 2024	172,891	83,758	120,316	61,892	438,857
Carrying amount
At 31 December 2024	565,661	147,468	87,230	6,190	806,549
At 31 December 2023	576,274	140,431	95,773	8,253	820,731

Included within the net book value of land and buildings above is £565,662 (2023 - £576,274) in respect of long leasehold land and buildings.
 

6

Debtors

Current	2024 £	2023 £
Trade debtors	67,784	38,066
Prepayments	26,485	9,925
Other debtors	-	34,809
	94,269	82,800

The Tythe Barn Launton Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	68,777	28,267
Taxation and social security	59,660	66,383
Accruals and deferred income	732,308	623,416
Other creditors	358,032	362,313
	1,218,777	1,080,379

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100