IRIS Accounts Production v23.3.0.418 10640127 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106401272022-02-28106401272023-02-28106401272022-03-012023-02-28106401272021-02-28106401272021-03-012022-02-28106401272022-02-2810640127ns10:Originalns15:EnglandWales2022-03-012023-02-2810640127ns14:PoundSterlingns10:Original2022-03-012023-02-2810640127ns10:Originalns10:Director12022-03-012023-02-2810640127ns10:Original2022-03-012023-02-2810640127ns10:Original2023-02-2810640127ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2810640127ns10:Originalns10:SmallEntities2022-03-012023-02-2810640127ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2810640127ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2810640127ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2810640127ns10:Originalns10:FullAccounts2022-03-012023-02-2810640127ns10:Originalns10:Director22022-03-012023-02-2810640127ns10:Originalns10:RegisteredOffice2022-03-012023-02-2810640127ns10:Original2022-02-2810640127ns10:Originalns5:CurrentFinancialInstruments2023-02-2810640127ns10:Originalns5:CurrentFinancialInstruments2022-02-2810640127ns10:Originalns5:Non-currentFinancialInstruments2023-02-2810640127ns10:Originalns5:Non-currentFinancialInstruments2022-02-2810640127ns5:ShareCapitalns10:Original2023-02-2810640127ns5:ShareCapitalns10:Original2022-02-2810640127ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2810640127ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2810640127ns10:Originalns5:PlantMachinery2022-03-012023-02-2810640127ns10:Originalns5:MotorVehicles2022-03-012023-02-2810640127ns10:Originalns5:ComputerEquipment2022-03-012023-02-2810640127ns10:Original2021-03-012022-02-2810640127ns10:Originalns5:PlantMachinery2022-02-2810640127ns10:Originalns5:MotorVehicles2022-02-2810640127ns10:Originalns5:ComputerEquipment2022-02-2810640127ns10:Original2022-02-2810640127ns10:Originalns5:PlantMachinery2023-02-2810640127ns10:Originalns5:MotorVehicles2023-02-2810640127ns10:Originalns5:ComputerEquipment2023-02-2810640127ns10:Originalns5:PlantMachinery2022-02-2810640127ns10:Originalns5:MotorVehicles2022-02-2810640127ns10:Originalns5:ComputerEquipment2022-02-2810640127ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-02-2810640127ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-03-012023-02-2810640127ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-2810640127ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-02-2810640127ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2810640127ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2810640127ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2810640127ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2810640127ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-02-2810640127ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-02-2810640127ns10:Originalns5:HirePurchaseContracts2023-02-2810640127ns10:Originalns5:HirePurchaseContracts2022-02-2810640127ns10:Originalns5:WithinOneYear2023-02-2810640127ns10:Originalns5:WithinOneYear2022-02-2810640127ns5:BetweenOneFiveYearsns10:Original2023-02-2810640127ns5:BetweenOneFiveYearsns10:Original2022-02-2810640127ns10:Originalns5:AllPeriods2023-02-2810640127ns10:Originalns5:AllPeriods2022-02-2810640127ns10:Original1ns10:Director12022-02-2810640127ns10:Original1ns10:Director12021-02-2810640127ns10:Original1ns10:Director12022-03-012023-02-2810640127ns10:Original1ns10:Director12021-03-012022-02-2810640127ns10:Original1ns10:Director12023-02-2810640127ns10:Original1ns10:Director12022-02-28
REGISTERED NUMBER: 10640127 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Burford Young Ltd

Burford Young Ltd (Registered number: 10640127)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Burford Young Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: N L Young
R J Burford



REGISTERED OFFICE: 9 Perry Orchard
Upton St Leonards
Gloucester
Gloucestershire
GL4 8EH



REGISTERED NUMBER: 10640127 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
Gloucestershire
GL1 1NU

Burford Young Ltd (Registered number: 10640127)

Statement of Financial Position
28 February 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,647 39,410

CURRENT ASSETS
Debtors 5 425,630 316,569
Cash at bank 84,252 3,201
509,882 319,770
CREDITORS
Amounts falling due within one year 6 116,837 97,446
NET CURRENT ASSETS 393,045 222,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,692

261,734

CREDITORS
Amounts falling due after more than one
year

7

(42,666

)

(41,595

)

PROVISIONS FOR LIABILITIES (12,912 ) (7,488 )
NET ASSETS 389,114 212,651

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 389,112 212,649
SHAREHOLDERS' FUNDS 389,114 212,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Burford Young Ltd (Registered number: 10640127)

Statement of Financial Position - continued
28 February 2023


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 28 September 2023 and were signed on its behalf by:





N L Young - Director


Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Burford Young Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 March 2022 3,103 75,812 2,964 81,879
Additions 154 29,400 - 29,554
At 28 February 2023 3,257 105,212 2,964 111,433
Depreciation
At 1 March 2022 1,969 37,636 2,864 42,469
Charge for year 322 16,895 100 17,317
At 28 February 2023 2,291 54,531 2,964 59,786
Net book value
At 28 February 2023 966 50,681 - 51,647
At 28 February 2022 1,134 38,176 100 39,410

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 March 2022 37,438
Additions 29,400
Transfer to ownership (22,188 )
At 28 February 2023 44,650
Depreciation
At 1 March 2022 20,735
Charge for year 10,210
Transfer to ownership (16,923 )
At 28 February 2023 14,022
Net book value
At 28 February 2023 30,628
At 28 February 2022 16,703

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 254,086 219,803
Other debtors 171,544 96,766
425,630 316,569

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 19,560 18,266
Hire purchase contracts (see note 8) 11,047 6,960
Trade creditors 20,107 21,177
Taxation and social security 37,193 21,005
Other creditors 28,930 30,038
116,837 97,446

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/23 28/2/22
£    £   
Bank loans 22,500 32,500
Hire purchase contracts (see note 8) 20,166 9,095
42,666 41,595

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28/2/23 28/2/22
£    £   
Net obligations repayable:
Within one year 11,047 6,960
Between one and five years 20,166 9,095
31,213 16,055

Non-cancellable operating leases
28/2/23 28/2/22
£    £   
Within one year 24,010 15,812
Between one and five years 48,842 40,059
72,852 55,871

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28/2/23 28/2/22
£    £   
N L Young
Balance outstanding at start of year 11,569 9,649
Amounts advanced 11,207 11,569
Amounts repaid (11,569 ) (9,649 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,207 11,569

The unsecured loan to the director has no fixed repayment terms. Interest of £23 (2022 - £96) has been charged during the year at the HMRC official rate of interest. The above loan is repaid within 9 months of the year end.

10. RELATED PARTY DISCLOSURES

R J Burford
Director

At 28 February 2023, the company owed the director R J Burford £12,903 (2022 - £27,250).
The unsecured loan from the director is interest free and has no fixed repayment terms.

Burford Young Properties Ltd
A company controlled by the directors N L Young and R J Burford

The company has loaned money to Burford Young Properties Ltd. At 28 February 2023, the loan outstanding was £145,204 (2022 - £65,900). The loan is interest free with no fixed repayment terms.