Accounts filed on 29-02-2016
Accounts filed on 29-02-2016
trueBarnwebb Limited044552622016-02-29-31333-4372490355779641001001215881215889035577964316742316747407097394711-53304-658235408168238777241577775301662460401460534401534460000460000Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Investment properties
Investment properties are revalued annually at their open market value in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director, these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015) in respect of the investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However, the amount of depreciation cannot be reasonably quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Fixtures & FittingsReducing Balance for Fixtures & Fittings0.2500950950549416133460000460000460950460950549416133316742316747
The loans are payable other than by instalments after 5 years of £316,742 (2015 - 316,747).
Ordinary11001001002016-06-26T. J. Webbtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureBarnwebb Limited2015-03-012016-02-29Barnwebb Limited2014-03-012015-02-28Barnwebb Limited2014-02-28Barnwebb Limited2015-02-28Barnwebb Limited2015-02-28Barnwebb Limited2016-02-29 2016-07-01
