The 16-year-old boy, who cannot be named, fled the scene after setting fire to the building.
Said building was a storage facility for the farmers bales, and farm equipment near Market Rasen.
The arson attack occurred in April of this year, and the young man was handed in by his mother.
The young man was seen by numerous witnesses setting fire to straw in the barn, before fleeing on foot.
This, the courts heard, he even carried out while two children were on top of the bales.
The defendant denied all accusations against him, claiming he dropped the lit straw by accident after it became too hot to hold.
The courts heard that the youngster set fire to the bales on six separate occasions that day in April.
The land owner was able to get his livestock to safety following the fire which destroyed his shed and some of his farm equipment.
The court heard that the cost of damage to the building, equipment and the 600 bales which were in storage, could rise up to £400,000.
The court also heard that the teenager has been diagnosed with ADHD as well as autism.
The case will be brought before the courts again on September 6th.