Shustoke Barn Limited - Accounts to registrar (filleted) - small 18.2
Shustoke Barn Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2021 |
| for |
| Shustoke Barn Limited |
| Shustoke Barn Limited (Registered number: 08157004) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Shustoke Barn Limited |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Shustoke Barn Limited (Registered number: 08157004) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 |
| Shustoke Barn Limited (Registered number: 08157004) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Shustoke Barn Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the |
| Company and the revenue can be reliably measured. Revenue is measured as the fair value of the |
| consideration received or receivable, excluding discounts, rebates, value added tax and other sales |
| taxes. Revenue is recognised at the point that the wedding or function occurs. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated |
| depreciation and any accumulated impairment losses. Historical cost includes expenditure that is |
| directly attributable to bringing the asset to the location and condition necessary for it to be capable of |
| operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their |
| estimated useful lives, using the straight-line method. |
| Depreciation is provided on the following basis: |
| Plant and machinery | 20% straight line |
| Fixtures and fittings | 20% straight line |
| Land and buildings | 4% Straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted |
| prospectively if appropriate, or if there is an indication of a significant change since the last reporting |
| date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount |
| and are recognised in profit or loss. |
| Government grants |
| Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less |
| costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. |
| At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount |
| is reduced to its selling price less costs to complete and sell. The impairment loss is recognised |
| immediately in profit and 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. |
| Shustoke Barn Limited (Registered number: 08157004) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2020 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| Shustoke Barn Limited (Registered number: 08157004) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other loans (see note 8) |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other loans (see note 8) |
| Accruals and deferred income |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | - | 79,847 |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Other loans |
| Amounts falling due between one and two years: |
| Other loans - 1-2 years | - |
| Amounts falling due between two and five years: |
| Other loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | - | 79,847 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | PENSION COMMITMENTS |
| The company operates a defined contributions pension scheme. The assets of the scheme are held |
| separately from those of the company in an independently administered fund. The pension cost charge |
| represents contributions payable by the company to the fund and amounted to £9,106 (2020: £11,868). |
| Contributions totalling £Nil (2020: £Nil) were payable to the fund at the balance sheet date and are |
| included in creditors. |
| Shustoke Barn Limited (Registered number: 08157004) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 11. | RELATED PARTY TRANSACTIONS |
| The company has taken advantage of the exemption under FRS 102 from disclosing transactions with |
| wholly owned group companies, on the grounds it is a wholly owned subsidiary and it's parent company |
| produces consolidated financial statements. |
| At the year end date the company owed £18,305 (2020: (£254,581)) from/(to) related entities who are not wholly owned by its parent.The company was also owed £633,363 from its parent company. |
| In 2013 the company entered into a loan agreement with one of the directors and was advanced |
| £804,500. The loan is unsecured and interest is charged at 2.65% plus the Bank of England base rate. |
| During the year the company recognised interest of £3,790 (2020: £18,245) in relation to the loan and at |
| the year end date the amount owed by the company was £Nil (2020: £383,741). |
| 12. | CONTROLLING PARTY |
| The company's immediate and ultimate parent is Cripps Barn Group Limited which prepares group |
| financial statements. The registered office of Cripps Barn Group Limited is Fosscross Lane, Bibury, |
| Cirencester, Gloucestershire, GL7 5BA. |