B.R. Barnes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00374122 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

B.R. BARNES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

N Chajet

G A Chajet

REGISTERED OFFICE:

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

REGISTERED NUMBER:

00374122 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

FIXED ASSETS

Tangible assets

4

-

Investment property

5

1,723,000

CURRENT ASSETS

Debtors

6

4,043

-

Cash at bank

79,105

81,258

83,148

81,258

CREDITORS

Amounts falling due within one year

7

102,569

97,388

NET CURRENT LIABILITIES

(19,421

)

(16,130

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,703,579

1,706,870

PROVISIONS FOR LIABILITIES

280,196

NET ASSETS

1,423,383

1,426,674

CAPITAL AND RESERVES

Called up share capital

8

1,000

Undistributable reserves

9

1,259,525

1,315,564

Retained earnings

9

162,858

110,110

SHAREHOLDERS' FUNDS

1,423,383

1,426,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2026 and were signed on its behalf by:

N Chajet - Director

1.	STATUTORY INFORMATION

B.R. Barnes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling, which is the company’s functional currency, and are rounded to the nearest pound.

Going concern

The directors have assessed the company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The company is profitable, generates regular cash flows from rental income and has substantial net assets. The net current liabilities at the year end mainly reflect tenants’ deposits, which are matched by cash held in designated bank accounts, and an amount owed to a director. The directors are therefore satisfied that there are no material uncertainties about the company’s ability to continue as a going concern, and the financial statements have been prepared on that basis.

Turnover

Turnover represents rent receivable from the company’s investment properties and is recognised on a straight-line basis over the period to which it relates. Rent received in advance is included in deferred income. Amounts recovered from tenants for service charges and insurance are deducted from the related costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is property held to earn rental income or for capital appreciation. It is initially recognised at cost and is subsequently measured at fair value at each reporting date, with changes in fair value recognised in profit or loss. No depreciation is provided. Fair value gains, net of the related deferred tax, are not realised profits and are transferred from retained earnings to an undistributable reserve.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax on investment property measured at fair value is calculated using the tax rates and allowances that would apply to the sale of the property.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2025

and 31 May 2026

3,250

DEPRECIATION

At 1 June 2025

and 31 May 2026

3,250

NET BOOK VALUE

At 31 May 2026

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2025

and 31 May 2026

1,723,000

NET BOOK VALUE

At 31 May 2026

1,723,000

At 31 May 2025

1,723,000

On an historical cost basis this property would have been included at an original cost of £130,000 (2025: £130,000) and aggregate depreciation of £114,400 (2025: £111,800). The original cost excludes land of £53,279 (2025: £53,279), which is not depreciated.

Deferred tax of £280,196 (2025: £280,196) has been provided at 25% on the difference between the fair value of the investment properties and their indexed base cost for tax purposes. This represents the corporation tax that would be payable on chargeable gains if the properties were sold at fair value.

The valuation of the properties was carried out by the directors on 31 May 2026 based on prevailing market conditions in the areas where the properties are located.

Fair value at 31 May 2026 is represented by:

£

Valuation in 2016

1,069,721

Valuation in 2017

347,000

Valuation in 2018

500,000

Valuation in 2023

(377,000

)

Cost

183,279

1,723,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.26

31.5.25

£

Other debtors

4,043

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.26

31.5.25

£

Corporation Tax

21,834

21,962

Social security and other taxes

754

Rent deposit held

20,580

20,333

Rent deposit under deed

16,411

16,214

Directors' current accounts

20,430

15,850

Accrued expenses

15,767

Deferred income

6,793

6,508

102,569

97,388

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.26

31.5.25

value:

£

1,000

Ordinary

£1

1,000

9.

RESERVES

Retained

Undistributable

earnings

reserves

Totals

£

At 1 June 2025

110,110

1,315,564

1,425,674

Profit for the year

74,709

Dividends

(78,000

)

(78,000

)

Transfer between reserves

56,039

(56,039

)

-

At 31 May 2026

162,858

1,259,525

1,422,383

The undistributable reserve of £1,259,525 (2025: £1,315,564) represents the cumulative fair value gains on the investment properties, net of the related deferred tax. These gains are not realised profits under the Companies Act 2006 and therefore cannot be distributed to shareholders as a dividend.

The transfer between reserves of £56,039 corrects the undistributable reserve for the increase in deferred tax on the investment properties that was charged to profit and loss in the year ended 31 May 2024, for which no transfer was made at the time.

10.	RELATED PARTY DISCLOSURES

Included in creditors is £20,430 (2025: £15,850) owed to N Chajet, a director. The loan is interest free and repayable on demand.