Possingworth Barns Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11704296

POSSINGWORTH BARNS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

29 November 2024

POSSINGWORTH BARNS LTD

STATEMENT OF FINANCIAL POSITION

29 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		3,232,335	3,236,335

Current assets

Debtors	5	5,000	–
Cash at bank and in hand		409	409
		-------	----
		5,409	409

Creditors: amounts falling due within one year	6	1,002,293		978,752
		-------------		----------
Net current liabilities			996,884	978,343
			-------------	-------------
Total assets less current liabilities			2,235,451	2,257,992

Creditors: amounts falling due after more than one year	7	2,281,080	2,281,080
		-------------	-------------
Net liabilities		( 45,629)	( 23,088)
		-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 45,729)	( 23,188)
	---------	---------
Shareholders deficit	( 45,629)	( 23,088)
	---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 29 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

POSSINGWORTH BARNS LTD

STATEMENT OF FINANCIAL POSITION (continued)

29 November 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr J J Formolli
Director

Company registration number: 11704296

POSSINGWORTH BARNS LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 29 NOVEMBER 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 168 Church Road, Hove, East Sussex, BN3 2DL.

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.

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:

	Freehold property	-	2% straight line

4. Tangible assets

	Freehold property
	£
Cost
At 30 November 2023 and 29 November 2024	3,256,335
	-------------
Depreciation
At 30 November 2023	20,000
Charge for the year	4,000
	-------------
At 29 November 2024	24,000
	-------------
Carrying amount
At 29 November 2024	3,232,335
	-------------
At 29 November 2023	3,236,335
	-------------

5. Debtors

	2024	2023
	£	£
Other debtors	5,000	–
	-------	----

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	4,427	11,678
Amounts owed to group undertakings and undertakings in which the company has a participating interest	237,435	232,435
Other creditors	760,431	734,639
	-------------	----------
	1,002,293	978,752
	-------------	----------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Precise Mortgages	2,281,080	2,281,080
	-------------	-------------

8. Related party transactions

During the year the company had a various transactions with connected company The Nice Group Ltd. At 29 November 2024 the amount owed by The Nice Group Ltd was £199,961 (2023 £194,961). The director of this company was also the director of The Nice Group Ltd during the year.