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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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BARBICAN PROPERTIES LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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BARBICAN PROPERTIES LIMITED |
BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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Page |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Statement of Financial Position | 3 | to | 4 |
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Notes to the Financial Statements | 5 | to | 7 |
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BARBICAN PROPERTIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Brent House |
382 Gloucester Road |
Cheltenham |
Gloucestershire |
GL51 7AY |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BARBICAN PROPERTIES LIMITED |
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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 Statement of Financial Position. 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. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Barbican Properties Limited for the year ended 30 April 2019 which comprise the Statement of |
Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting |
records and from information and explanations you have given us. |
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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. |
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This report is made solely to the Board of Directors of Barbican Properties 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 Barbican Properties Limited and state those matters that we have agreed to state to the Board of Directors of Barbican Properties 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. |
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It is your duty to ensure that Barbican Properties 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 profit of Barbican Properties Limited. You consider that Barbican Properties Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Barbican Properties 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. |
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Brent House |
382 Gloucester Road |
Cheltenham |
Gloucestershire |
GL51 7AY |
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BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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STATEMENT OF FINANCIAL POSITION |
30 APRIL 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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T Heath - Director | P S Smith - Director |
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I M Smith - Director |
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BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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1. | STATUTORY INFORMATION |
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Barbican Properties Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Investment property |
Investment properties consist of land and buildings (which are not occupied for use by, or in the operations of, |
the Company, nor for sale in the ordinary course of business, but are held to earn rental income together with the |
potential for capital and income growth. |
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Investment properties are initially recognised at cost, being the fair value of consideration given, including |
transaction costs associated with the investment property. Any subsequent capital expenditure incurred in |
improving investment properties is capitalised in the period incurred and included within the book cost of the |
property. |
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After initial recognition, investment properties are measured at fair value, with gains and losses recognised in the |
Income Statement. Fair value is based on the open market valuation provided by the directors, at the balance |
sheet date using recognised valuation techniques appropriately adjusted for unamortised lease incentives, lease |
surrender premiums and rental adjustments. |
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The determination of the fair value of investment properties requires the use of estimates such as future cash |
flows from assets (such as lettings, tenants' profiles, future revenue streams, capital values of fixtures and fittings, |
plant and machinery, any environmental matters and the overall repair and condition of the property) and |
discount rates applicable to those assets. These estimates are based on local market conditions existing at the |
balance sheet date. |
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On derecognition, gains and losses on disposals of investment properties are recognised in the Income Statement |
and transferred to the Capital Reserve. Recognition and derecognition occurs on the completion of a sale |
between a willing buyer and a willing seller. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2018 |
and 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Fair value at 30 April 2019 is represented by: |
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£ |
Valuation in 2018 | 110,004 |
Cost | 514,996 |
625,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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BARBICAN PROPERTIES LIMITED (REGISTERED NUMBER: 05416448) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 234,860 | 261,661 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The bank loan is secured by a fixed and floating charge over the assets of the company. |