ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Company registration number: 11205225

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	BARNWORKS LTD


BARNWORKS LTD

COMPANY INFORMATION

Director	P J Schultheiss


Registered number	11205225


Registered office	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


Trading Address	Stantons Barn
	Heyford Lane
	Weedon
	Northants
	NN7 4SF



Accountants	Menzies LLP
	Chartered Accountants
	95 Gresham Street
	London
	EC2V 7AB


BARNWORKS LTD REGISTERED NUMBER:11205225

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		529,903		603,721
Investments	5		500,000		1,412,230
Investment property	6		3,504,096		2,279,711
			4,533,999		4,295,662
Current assets
Debtors: amounts falling due after more than one year	7	2,350,000		3,082,000
Debtors: amounts falling due within one year	7	6,470,688		29,262
Cash at bank and in hand	8	28,033		92,935
		8,848,721		3,204,197
Creditors: amounts falling due within one year	9	(11,787,748)		(6,646,534)
Net current liabilities			(2,939,027)		(3,442,337)
Total assets less current liabilities			1,594,972		853,325
Creditors: amounts falling due after more than one year	10		(412,230)		(412,230)
Provisions for liabilities
Deferred tax		(262,759)		(243,213)
			(262,759)		(243,213)
Net assets			919,983		197,882

Capital and reserves
Called up share capital	100	100
Profit and loss account	919,883	197,782
	919,983	197,882

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BARNWORKS LTD REGISTERED NUMBER:11205225

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P J Schultheiss

Director

Date: 12 December 2025

The notes on pages 3 to 9 form part of these financial statements.

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Barnworks Ltd is a private limited company, limited by shares, registered in England & Wales, company registration number 11205225. The registered office is 4th Floor, 95 Gresham Street, London, EC2V 7AB and principal place of business is Stantons Barn, Heyford Lane, Weedon, Northants, NN7 4SF.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

The financial statements are prepared on a going concern basis. While material uncertainties exist, the directors have confirmed their intention to provide financial support as needed to ensure the Company can meet its obligations over the next 12 months.

2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated by buying and selling of own real estate as well as by renting out properties and boats, and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5

Other operating income

Other operating income consists of investment income relating to the company's share of rents receivable for the period.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in non-puttable ordinary shares.

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.11

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%	reducing balance
				Boats	-	15%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.13

Valuation of investments

Investments whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 2).

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Boats	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	-	38,400	684,848	723,248
Additions	21,600	-	-	21,600
At 31 March 2025	21,600	38,400	684,848	744,848
Depreciation
At 1 April 2024	-	16,800	102,727	119,527
Charge for the year on owned assets	2,700	5,400	87,318	95,418
At 31 March 2025	2,700	22,200	190,045	214,945
Net book value
At 31 March 2025	18,900	16,200	494,803	529,903
At 31 March 2024	-	21,600	582,121	603,721

5.	Fixed asset investments

	Investments in subsidiary companies	Unlisted investments	Total
	£	£	£
Cost or valuation
At 1 April 2024	412,230	1,000,000	1,412,230
Disposals	-	(500,000)	(500,000)
At 31 March 2025	412,230	500,000	912,230
Impairment
Charge for the period	412,230	-	412,230
At 31 March 2025	412,230	-	412,230
Net book value
At 31 March 2025	-	500,000	500,000
At 31 March 2024	412,230	1,000,000	1,412,230

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	2,279,711
	Additions at cost	1,224,385
	At 31 March 2025	3,504,096

The 2025 valuations were made by the director, on an open market value for existing use basis.

In the year property totalling £722,000 was received from subsidiary by way of a dividend in specie.

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Debtors
		2025	2024
		£	£

Due after more than one year
Other debtors	2,350,000	3,082,000
	2,350,000	3,082,000

					2025	2024
					£	£

Due within one year
Amounts owed by group undertakings	-	20,000
Other debtors	6,462,890	-
Prepayments and accrued income	7,798	9,262
	6,470,688	29,262

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	28,033	92,935
	28,033	92,935

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	58,318	23,523
Corporation tax	103,378	-
Other taxation and social security	737	363
Other creditors	11,619,015	6,614,008
Accruals and deferred income	6,300	8,640
	11,787,748	6,646,534

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BARNWORKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	412,230	412,230
	412,230	412,230




Amounts falling due after more than 5 years
Other loans	412,230	412,230
	412,230	412,230
	412,230	412,230

Not later than 1 year	16,500	6,500
Later than 1 year and not later than 5 years	2,889	6,500
	19,389	13,000

13.	Related party transactions
	As at 31 March 2025, the company owed the director £11,618,824 (2024: £6,613,824). The loan has been provided interest free.

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