Company No: SC533826 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	79,898		59,415
		79,898		59,415
Current assets
Debtors	4	89,938		49,931
Cash at bank and in hand		310,971		413,815
		400,909		463,746
Creditors: amounts falling due within one year	5	( 157,896)		( 243,457)
Net current assets		243,013		220,289
Total assets less current liabilities		322,911		279,704
Creditors: amounts falling due after more than one year	6	( 21,667)		( 31,667)
Provision for liabilities	7	( 10,893)		( 9,972)
Net assets		290,351		238,065
Capital and reserves
Called-up share capital	8	200		200
Profit and loss account		290,151		237,865
Total shareholders' funds		290,351		238,065

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Barra Castle Ltd (registered number: SC533826) were approved and authorised for issue by the Director on 02 October 2023. They were signed on its behalf by:

David Gordon Stephen Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Barra Castle Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Redhouse Of Barra, Oldmeldrum, Inverurie, AB51 0BB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the hire of a wedding venue and is shown net of VAT and other sales related taxes.

Turnover is recognised in full at the point of hire.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	25 % reducing balance
Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		13

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2022	169,051		11,256		0		2,561		182,868
Additions	7,658		4,385		25,498		607		38,148
At 31 March 2023	176,709		15,641		25,498		3,168		221,016
Accumulated depreciation
At 01 April 2022	120,385		2,276		0		792		123,453
Charge for the financial year	13,205		2,333		1,700		427		17,665
At 31 March 2023	133,590		4,609		1,700		1,219		141,118
Net book value
At 31 March 2023	43,119		11,032		23,798		1,949		79,898
At 31 March 2022	48,666		8,980		0		1,769		59,415

4. Debtors

	2023		2022
	£		£
Trade debtors	14,676		6,261
Corporation tax	15,761		10,844
Other debtors	59,501		32,826
	89,938		49,931

5. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	10,000		10,000
Trade creditors	19,048		4,028
Taxation and social security	18,226		64,643
Other creditors	110,622		164,786
	157,896		243,457

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Bank loans	21,667		31,667

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

	2023		2022
	£		£
At the beginning of financial year	( 9,972)		( 8,233)
Charged to the Statement of Income and Retained Earnings	( 921)		( 1,739)
At the end of financial year	( 10,893)		( 9,972)

8. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
200 Ordinary Shares shares of £ 1.00 each	200		200

9. Related party transactions

Transactions with the entity's directors

Advances

At the beginning of the year, the company was due £19,169 from the directors. No repayments were made during the year. There were advances of £11,325 during the year and interest of £435 (2.00%) has been charged on these advances therefore at the year end the balance due from the directors to the company is £30,929. There are no fixed terms of repayment on this balance.