Barilone Properties Limited - Accounts to registrar (filleted) - small 23.1.2

Barilone Properties Limited - Accounts to registrar (filleted) - small 23.1.2


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REGISTERED NUMBER: 00670714 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

BARILONE PROPERTIES LIMITED

BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARILONE PROPERTIES LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2022







DIRECTORS: M Barilone
G Chuter





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

BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

BALANCE SHEET
30 June 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,367 4,254
Investment property 5 7,536,000 7,460,000
7,539,367 7,464,254

CURRENT ASSETS
Debtors 6 18,528 39,354
Cash at bank 565,784 156,714
584,312 196,068
CREDITORS
Amounts falling due within one year 7 115,483 73,762
NET CURRENT ASSETS 468,829 122,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,008,196

7,586,560

PROVISIONS FOR LIABILITIES 8 915,000 880,000
NET ASSETS 7,093,196 6,706,560

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7,092,196 6,705,560
SHAREHOLDERS' FUNDS 7,093,196 6,706,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

BALANCE SHEET - continued
30 June 2022


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 and authorised for issue on 16 June 2023 and were signed on its behalf by:





M Barilone - Director


BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2022


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 (2021 - 2 ) .

BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2022


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2021
and 30 June 2022 44,292
DEPRECIATION
At 1 July 2021 40,038
Charge for year 887
At 30 June 2022 40,925
NET BOOK VALUE
At 30 June 2022 3,367
At 30 June 2021 4,254

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2021 7,460,000
Additions 40,968
Disposals (318,968 )
Revaluations 354,000
At 30 June 2022 7,536,000
NET BOOK VALUE
At 30 June 2022 7,536,000
At 30 June 2021 7,460,000

The investment properties are shown at valuation, having been revalued by Ibbett Mosely in June 2023. These valuations have been adjusted to reflect the increase in house prices in the south east of England since the year end. The original cost of the freehold investment properties was £875,052 (2021: £870,406).

Fair value at 30 June 2022 is represented by:
£   
Valuation in 2022 7,536,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 9,556 31,388
Prepayments and accrued income 8,972 7,966
18,528 39,354

BARILONE PROPERTIES LIMITED (REGISTERED NUMBER: 00670714)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 79,145 49,327
Other creditors 36,338 24,435
115,483 73,762

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 915,000 880,000

Deferred
tax
£   
Balance at 1 July 2021 880,000
Provided during year 35,000
Balance at 30 June 2022 915,000

9. ULTIMATE CONTROLLING PARTY

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