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REGISTERED NUMBER: 02306859 (England and Wales)

















BURNING SENSATION (GRIMSBY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022






BURNING SENSATION (GRIMSBY) LIMITED (REGISTERED NUMBER: 02306859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022




Page

Balance Sheet 1

Notes to the Financial Statements 2


BURNING SENSATION (GRIMSBY) LIMITED (REGISTERED NUMBER: 02306859)

BALANCE SHEET
31 MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,082 123,161

CURRENT ASSETS
Stocks 75,255 48,545
Debtors 5 5,463 1,857
Cash at bank and in hand 41,138 75,276
121,856 125,678
CREDITORS
Amounts falling due within one year 6 107,049 104,914
NET CURRENT ASSETS 14,807 20,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,889

143,925

CREDITORS
Amounts falling due after more than one year 7 41,524 37,991
NET ASSETS 117,365 105,934

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 56,490 56,490
Retained earnings 60,872 49,441
SHAREHOLDERS' FUNDS 117,365 105,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





M Foster - Director


BURNING SENSATION (GRIMSBY) LIMITED (REGISTERED NUMBER: 02306859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1. STATUTORY INFORMATION

Burning Sensation (Grimsby) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02306859

Registered office: Armstrong Street
Grimsby
South Humberside
DN31 1XD

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.

Going concern
The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on reducing balance

Government grants
Government grants have been accounted for under the accrual model, recognised as other income against the period to which they relate. There were no unfulfilled conditions or contingencies attached to the grants.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BURNING SENSATION (GRIMSBY) LIMITED (REGISTERED NUMBER: 02306859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 3 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2021 177,690 - - 3,443 181,133
Additions - 1,781 24,429 194 26,404
At 31 May 2022 177,690 1,781 24,429 3,637 207,537
DEPRECIATION
At 1 June 2021 54,690 - - 3,282 57,972
Charge for year 3,000 - 2,443 40 5,483
At 31 May 2022 57,690 - 2,443 3,322 63,455
NET BOOK VALUE
At 31 May 2022 120,000 1,781 21,986 315 144,082
At 31 May 2021 123,000 - - 161 123,161

The long leasehold property is subject to a first charge in favour of HSBC to support financing facilities made available.

The historical cost of the property bought during the year ending 31 May 2003 was £121,200.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 5,463 1,857

BURNING SENSATION (GRIMSBY) LIMITED (REGISTERED NUMBER: 02306859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,560 6,286
Hire purchase contracts 6,057 -
Trade creditors 31,106 15,041
Taxation and social security 3,167 9,864
Other creditors 58,159 73,723
107,049 104,914

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 30,128 37,991
Hire purchase contracts 11,396 -
41,524 37,991