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REGISTERED NUMBER: 05365647 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2022

for

Bourne Estate Agents Limited

Bourne Estate Agents Limited (Registered number: 05365647)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bourne Estate Agents Limited

Company Information
for the Year Ended 28 February 2022







DIRECTOR: S Mitchell





SECRETARY: Mrs K J Mitchell





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 05365647 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Bourne Estate Agents Limited (Registered number: 05365647)

Balance Sheet
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 29,000
Tangible assets 6 42,413 41,512
Investments 7 76,327 172,143
118,740 242,655

CURRENT ASSETS
Debtors 8 1,125,027 421,803
Investments 9 9,017 9,017
Cash at bank 3,159,266 3,724,850
4,293,310 4,155,670
CREDITORS
Amounts falling due within one
year

10

3,207,210

3,426,824
NET CURRENT ASSETS 1,086,100 728,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,204,840

971,501

CREDITORS
Amounts falling due after more
than one year

11

(207,939

)

(333,793

)

PROVISIONS FOR LIABILITIES (7,917 ) (6,778 )
NET ASSETS 988,984 630,930

CAPITAL AND RESERVES
Called up share capital 14 1,500 1,500
Retained earnings 987,484 629,430
SHAREHOLDERS' FUNDS 988,984 630,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2022 and were signed by:



S Mitchell - Director


Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Bourne Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2011, 2014 and 2017 are being amortised evenly over their estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 84 (2021 - 75 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2021
and 28 February 2022 864,999
AMORTISATION
At 1 March 2021 835,999
Charge for year 29,000
At 28 February 2022 864,999
NET BOOK VALUE
At 28 February 2022 -
At 28 February 2021 29,000

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2021 42,744 225,888 268,632
Additions - 18,541 18,541
At 28 February 2022 42,744 244,429 287,173
DEPRECIATION
At 1 March 2021 36,905 190,215 227,120
Charge for year 5,094 12,546 17,640
At 28 February 2022 41,999 202,761 244,760
NET BOOK VALUE
At 28 February 2022 745 41,668 42,413
At 28 February 2021 5,839 35,673 41,512

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2021 172,143
Impairments (95,816 )
At 28 February 2022 76,327
NET BOOK VALUE
At 28 February 2022 76,327
At 28 February 2021 172,143

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 255,532 338,142
Other debtors 869,495 83,661
1,125,027 421,803

9. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Unlisted investments 9,017 9,017

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 87,827 85,999
Trade creditors 132,635 143,998
Taxation and social security 381,996 715,124
Other creditors 2,604,752 2,481,703
3,207,210 3,426,824

Included in other creditors are Client balances of £2,400,832 (2021: £2,122,399) representing monies held in Client bank accounts.

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 207,939 292,793
Other creditors - 41,000
207,939 333,793

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 45,681 51,185
Between one and five years 120,271 135,512
165,952 186,697

13. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 295,766 378,792

The bank loan is secured by way of a fixed and floating charge over the assets of the company.

14. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
150,000 Ordinary £0.01 1,500 1,500

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr S Mitchell and Mrs K J Mitchell by virtue of their 100% interest in the ordinary share capital of the company.