Registration number: 03014602

Brecon Cathedral Tithebarn Company Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Brecon Cathedral Tithebarn Company Limited

Company Information

Directors

Very Revd Dr P Shackerley The Ven A N Jevons The Revd Canon P Brooks The Revd Canon H Lervy

Registered office

Cathedral Office Cathedral Close Brecon Powys LD3 9DP

Accountants

W J James & Co Bishop House 10 Wheat Street Brecon Powys LD3 7DG

Brecon Cathedral Tithebarn Company Limited

(Registration number: 03014602)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	247,371	259,446
Current assets
Stocks		11,086	11,086
Debtors	5	23,590	14,066
Cash at bank and in hand		1,302	1,174
		35,978	26,326
Creditors: Amounts falling due within one year	6	(18,810)	(14,917)
Net current assets		17,168	11,409
Total assets less current liabilities		264,539	270,855
Creditors: Amounts falling due after more than one year	6	(267,938)	(280,526)
Net liabilities		(3,399)	(9,671)
Capital and reserves
Retained earnings		(3,399)	(9,671)
Shareholders' deficit		(3,399)	(9,671)

For the financial year ending 28 February 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.

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 19 December 2025 and signed on its behalf by:
 

......................................... Very Revd Dr P Shackerley Director

Brecon Cathedral Tithebarn Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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:
Cathedral Office
Cathedral Close
Brecon
Powys
LD3 9DP
Wales

These financial statements were authorised for issue by the Board on 19 December 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 presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods and services to customers, and donations towards the Heritage Centre, excluding Value Added Tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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.

Brecon Cathedral Tithebarn Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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
Leasehold property	2% on cost
Fixtures and fittings	20% on reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Brecon Cathedral Tithebarn Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Total £
Cost or valuation
At 1 March 2024	568,845	123,546	692,391
At 28 February 2025	568,845	123,546	692,391
Depreciation
At 1 March 2024	312,888	120,057	432,945
Charge for the year	11,377	698	12,075
At 28 February 2025	324,265	120,755	445,020
Carrying amount
At 28 February 2025	244,580	2,791	247,371
At 29 February 2024	255,957	3,489	259,446

Included within the net book value of land and buildings above is £244,580 (2024 - £255,957) in respect of long leasehold land and buildings.
 

5

Debtors

Current	2025 £	2024 £
Trade debtors	23,590	14,066
	23,590	14,066

Brecon Cathedral Tithebarn Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	6,224	2,330
Accruals and deferred income	12,588	12,588
Other creditors	(2)	(1)
	18,810	14,917

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Deferred income	267,938	280,526