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Registration number: 09221878

Golla Barn Estates Limited
Unaudited Filleted Abridged Financial Statements
for the Year Ended 31 March 2025

Golla Barn Estates Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Notes to the Unaudited Abridged Financial Statements | 4 to 7

Golla Barn Estates Limited

Company Information

Directors | Mr CWB Derwent Ms Alison Litchfield

Registered office | Waterside Court Falmouth Road Penryn Cornwall TR10 8AW

Accountants | GW & Co Limited Chartered Certified AccountantsWaterside Court Falmouth Road Penryn Cornwall TR10 8AW

Golla Barn Estates Limited

(Registration number: 09221878)
Abridged Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 562 | -
Investment property |  | 3,048,652 | 2,867,045
|  | 3,049,214 | 2,867,045
Current assets |  |  |
Debtors |  | 692,574 | 657,993
Cash at bank and in hand |  | 138,872 | 98,872
|  | 831,446 | 756,865
Creditors: Amounts falling due within one year |  | (818,753) | (644,151)
Net current assets |  | 12,693 | 112,714
Total assets less current liabilities |  | 3,061,907 | 2,979,759
Creditors: Amounts falling due after more than one year |  | (1,310,489) | (1,355,692)
Accruals and deferred income |  | (1,434) | (2,730)
Net assets |  | 1,749,984 | 1,621,337
Capital and reserves |  |  |
Called up share capital | 5 | 1,239,413 | 1,239,413
Retained earnings |  | 510,571 | 381,924
Shareholders' funds |  | 1,749,984 | 1,621,337

For the financial year ending 31 March 2025 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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.

Approved and authorised by the Board on 11 November 2025 and signed on its behalf by:

Golla Barn Estates Limited

(Registration number: 09221878)
Abridged Balance Sheet as at 31 March 2025

......................................... Mr CWB Derwent Director

Golla Barn Estates Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Waterside Court
Falmouth Road
Penryn
Cornwall
TR10 8AW
England

These financial statements were authorised for issue by the Board on 11 November 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 abridged 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 abridged 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.

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 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.

Golla Barn Estates Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

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
Plant & machinery | 20% on cost

Investment property

Investment properties are generally measured at fair value.
However, the investment properties are measured at cost this is because the directors are of the opinion that the fair value of these properties cannot be measured reliably without undue cost or effort due to their unique nature and the absence of an active market for comparable properties.

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.

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

Golla Barn Estates Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 3,500 | - | 3,500
Additions | - | 839 | 839
At 31 March 2025 | 3,500 | 839 | 4,339
Depreciation
At 1 April 2024 | 3,500 | - | 3,500
Charge for the year | - | 277 | 277
At 31 March 2025 | 3,500 | 277 | 3,777
Carrying amount
At 31 March 2025 | - | 562 | 562

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.

Golla Barn Estates Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

Investment properties

| 2025 £
At 1 April | 2,867,045
Additions | 181,607
At 31 March | 3,048,652

Due to the unique nature of the investment properties and their use as care homes the directors have made the decision to record the properties at cost.

There has been no valuation of investment property by an independent valuer.

5 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1,239,413 | 1,239,413 | 1,239,413 | 1,239,413

6 | Related party transactions

As at 31 March 2025 the company owes the Director Mr C Derwent £562,449 (2024: £385,358).
Included in other debtors
- is an amount of £626,845 (2024: £586,845 due from) Penrose Farm Developments Limited, a company which has Mr C Derwent as a director.