REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2022 |
FOR |
R. T. BARNARD & SONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2022 |
FOR |
R. T. BARNARD & SONS LIMITED |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Chartered Certified Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
R. T. BARNARD & SONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
R. T. BARNARD & SONS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R. T. Barnard & Sons Limited for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the Board of Directors of R. T. Barnard & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R. T. Barnard & Sons Limited and state those matters that we have agreed to state to the Board of Directors of R. T. Barnard & Sons Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that R. T. Barnard & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of R. T. Barnard & Sons Limited. You consider that R. T. Barnard & Sons Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of R. T. Barnard & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
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. |
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 |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
R. T. Barnard & Sons Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises rent receivable for the year. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2022 |
Additions |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Cost or valuation at 31 December 2022 is represented by: |
£ |
Valuation in 2022 | 1,818,142 |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
5. | INVESTMENT PROPERTY - continued |
If the investment properties had not been revalued they would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 627,101 | 627,101 |
Investment properties were valued on an open market basis on 31 December 2020 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 34,054 | 15,027 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Mortgage | 167,000 | - |
Corporation tax |
Social security and other taxes |
Other creditors |
Accrued expenses and income |
in advance |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Mortgage - 2-5 years |
R. T. BARNARD & SONS LIMITED (REGISTERED NUMBER: 00776581) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Mortgages | 362,000 | 362,000 |
The mortgage loans are on an interest only basis with no date specified for final repayment. The interest rate is 2% over the bank base rate. The loans are secured by a charge over the properties at 60 Birch Trees, Great Shelford, Cambridge, 3 Ailsa Court, Cambridge, 23a Marmora Road, Cambridge, 7 Midsummer Court, Cambridge, 23b Marmora Road, Cambridge and 67 Bishops Court, Cambridge. |
10. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 166,006 | 166,006 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Balance at 31 December 2022 |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2022 |
and 31 December 2022 |
The revaluation reserve represents the excess of the valuation of the investment property and investment over original cost. |
12. | RELATED PARTY DISCLOSURES |
The D R Barnard Discretionary Settlement and the J M Barnard Discretionary settlement own 36% and 34% of the issued share capital of the company respectively. |
D R Barnard and Mrs J M Barnard are trustees of both trusts as well as being directors of the company. |
13. | ULTIMATE CONTROLLING PARTY |
The controlling parties are D R Barnard and Mrs J M Barnard by virtue of the fact that they are trustees of the D R Barnard Discretionary Settlement and the J M Barnard Discretionary Settlement which together own 70% of the issued share capital in the company. |