Barclay Estates Limited - Limited company accounts 20.1

REGISTERED NUMBER: 03665393 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Barclay Estates Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

P Fernback

REGISTERED OFFICE:

Enterprise House

27 Hastings Road

Bromley

Kent

BR2 8NA

REGISTERED NUMBER:

03665393 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of rental, management and trading of commercial properties.

DIRECTOR

P Fernback held office during the whole of the period from 1 January 2021 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P Fernback - Director

30 September 2022

REVENUE

415,666

417,795

Cost of sales

174,818

116,397

GROSS PROFIT

240,848

301,398

Administrative expenses

128,052

104,115

OPERATING PROFIT

112,796

197,283

Interest receivable and similar income

-

2

112,796

197,285

Interest payable and similar expenses

81,989

91,194

PROFIT BEFORE TAXATION

30,807

106,091

Tax on profit

(9,430

)

20,420

PROFIT FOR THE FINANCIAL YEAR

40,237

85,671

FIXED ASSETS

Property, plant and equipment

4

1,957,100

1,957,100

CURRENT ASSETS

Debtors

5

1,383,457

1,874,641

Cash at bank

2,030,182

105,850

3,413,639

1,980,491

CREDITORS

Amounts falling due within one year

6

3,539,469

2,146,594

NET CURRENT LIABILITIES

(125,830

)

(166,103

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,831,270

1,790,997

CREDITORS

Amounts falling due after more than one year

7

2,340,279

2,340,279

NET LIABILITIES

(509,009

)

(549,282

)

CAPITAL AND RESERVES

Called up share capital

4

4

Revaluation reserve

8

567,289

567,289

Other reserves

15,000

15,000

Other reserves

(75,806

)

(75,806

)

Retained earnings

(1,015,496

)

(1,055,769

)

(509,009

)

(549,282

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 30 September 2022 and were signed by:

P Fernback - Director

1.	STATUTORY INFORMATION

Barclay Estates 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

not provided

Plant and machinery etc

-

10% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2021

and 31 December 2021

1,957,100

21,680

1,978,780

DEPRECIATION

At 1 January 2021

and 31 December 2021

-

21,680

21,680

NET BOOK VALUE

At 31 December 2021

1,957,100

-

1,957,100

At 31 December 2020

1,957,100

-

1,957,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

133,914

81,560

Other debtors

1,249,543

1,793,081

1,383,457

1,874,641

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

30,171

28,224

Taxation and social security

54,505

62,804

Other creditors

3,454,793

2,055,566

3,539,469

2,146,594

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

2,310,000

2,310,000

Other creditors

30,279

30,279

2,340,279

2,340,279

8.

RESERVES

Revaluation

reserve

£

At 1 January 2021

and 31 December 2021

567,289

9.	RELATED PARTY DISCLOSURES

At the year end, the company was owed/(owing) the following amounts, from/to companies which are owned and controlled by a close family relative of Mr P Fernback.

2021

2020

£

£

Centaur Property Group Limited

20,698

15,495

Centaur Property Estates Limited

(252,745

)

(252,745

)

Es Vedra Properties Limited

(83,537

)

(83,537

)

At the year end the company was owed/(owing) the following amounts from the following entities which Mr P Fernback is a member.

2021

2020

£

£

Centaur Property Trading LLP

4,000

4,000

Barclay Property Trading LLP

(84,404

)

(74,204

)

Champion Properties LLP

(48,837

)

4,539

Wentworth Trading LLP

20,954

973,875

Big Padlock Ayr Ltd

775

775

Centaur Financing Ltd

(1,264,448

)

(303,045

)

At the year end the company was owed/(owing) the following amounts from/to companies in which Mr P

Fernback is a director.

2021

2020

£

£

Barclay Group Limited

(50,505

)

(50,505

)

Barclay Commercial Investments Ltd

(60,846

)

(37,185

)

Barclay Home Investments Limited

(218,786

)

(237,480

)

PSF Developments

53,402

15,805

Paul Fernback SIPP

19,461

28,261

Blue Marlin Limited

942,908

937,908

Barclay Commercial Estates Ltd

49,749

52,278

At the year end the company was owed £20,954 (2020 = £973,875) from Wentworth Trading LLP, a partnership of which Barclay Estates Limited is a member.