Barilone Properties Limited - Accounts to registrar (filleted) - small 18.2

Barilone Properties Limited - Accounts to registrar (filleted) - small 18.2

BARILONE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00670714 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

BARILONE PROPERTIES LIMITED
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARILONE PROPERTIES LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2019







DIRECTORS: AS Barilone
M Barilone





SECRETARY: M Barilone





REGISTERED OFFICE: Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ





REGISTERED NUMBER: 00670714 (England and Wales)





ACCOUNTANTS: Crane & Partners
Chartered Accountants
Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ
Page 1
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

BALANCE SHEET
30 June 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,743 3,427
Investment property 5 6,000,000 6,000,000
6,002,743 6,003,427

CURRENT ASSETS
Debtors 6 30,823 17,920
Cash at bank 225,870 372,460
256,693 390,380
CREDITORS
Amounts falling due within one year 7 78,145 103,853
NET CURRENT ASSETS 178,548 286,527
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,181,291
6,289,954

PROVISIONS FOR LIABILITIES 8 580,000 630,000
NET ASSETS 5,601,291 5,659,954

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 5,600,291 5,658,954
SHAREHOLDERS' FUNDS 5,601,291 5,659,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 2 continued...
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

BALANCE SHEET - continued
30 June 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 25 March 2020 and were signed on its
behalf by:





AS Barilone - Director


The notes form part of these financial statements

Page 3
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2019


1. STATUTORY INFORMATION

Barilone Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent received.

Tangible fixed assets
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual
value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or 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.

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 2 (2018 - 2 ) .

Page 4 continued...
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2019


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2018
and 30 June 2019 40,257
DEPRECIATION
At 1 July 2018 36,830
Charge for year 684
At 30 June 2019 37,514
NET BOOK VALUE
At 30 June 2019 2,743
At 30 June 2018 3,427

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2018 6,000,000
Additions 165,976
Revaluations (165,976 )
At 30 June 2019 6,000,000
NET BOOK VALUE
At 30 June 2019 6,000,000
At 30 June 2018 6,000,000

The investment properties are shown at valuation, having been revalued by the directors as at 30 June
2019. The original cost of the freehold investment properties was £691,690 (2018: £525,714).

Fair value at 30 June 2019 is represented by:

£   
Valuation in 2019 6,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 23,555 17,920
Prepayments and accrued income 7,268 -
30,823 17,920

Page 5 continued...
BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2019


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors - 197
Taxation and social security 43,153 76,768
Other creditors 34,992 26,888
78,145 103,853

8. PROVISIONS FOR LIABILITIES
2019 2018
£    £   
Deferred tax 580,000 630,000

Deferred
tax
£   
Balance at 1 July 2018 630,000
Credit to Income Statement during year (50,000 )
Balance at 30 June 2019 580,000

9. ULTIMATE CONTROLLING PARTY

Barilone Properties Limited is under the common control of the two directors.

Page 6