Company registration number 13165286 (England and Wales)
DOXFORD BARNS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
DOXFORD BARNS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DOXFORD BARNS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,401,250
Current assets
Cash at bank and in hand
1
1
Creditors: amounts falling due within one year
4
(491,785)
Net current (liabilities)/assets
(491,784)
1
Total assets less current liabilities
1,909,466
1
Creditors: amounts falling due after more than one year
5
(606,558)
Provisions for liabilities
(325,727)
Net assets
977,181
1
Capital and reserves
Called up share capital
6
1
1
Revaluation reserve
1,302,907
Profit and loss reserves
(325,727)
Total equity
977,181
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DOXFORD BARNS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on
20 March 2023
and are signed on its behalf by:
M J Gubbins
Director
Company Registration No. 13165286
DOXFORD BARNS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
1
Accounting policies
Company information
Doxford Barns Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Doxford Barns, Doxford, Chathill, Alnwick, Northumberland, NE67 5DY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
DOXFORD BARNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2021
Additions
1,098,343
Revaluation
1,302,907
At 30 September 2022
2,401,250
Depreciation and impairment
At 1 October 2021 and 30 September 2022
Carrying amount
At 30 September 2022
2,401,250
At 30 September 2021
DOXFORD BARNS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 5 -
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,442
Other creditors
486,343
491,785
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
606,558
National Westminster Bank
plc have fixed and floating charges over all properties and undertaking of the company as security for the bank loan in place.
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
458,150
-
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1