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Registration number: 14019512

Burcote Style Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 April 2022 to 30 April 2023

 

Burcote Style Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Burcote Style Limited

Company Information

Directors

Miss Sophie Claire Lecoche

Mr Graeme Iain Cartmell

Registered office

The Mill, Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

 

Burcote Style Limited

(Registration number: 14019512)
Balance Sheet as at 30 April 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

18,000

Tangible assets

5

25,762

 

43,762

Current assets

 

Debtors

6

7,575

Cash at bank and in hand

 

8,217

 

15,792

Creditors: Amounts falling due within one year

7

(59,424)

Net current liabilities

 

(43,632)

Net assets

 

130

Capital and reserves

 

Called up share capital

100

Retained earnings

30

Shareholders' funds

 

130

For the financial period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 October 2023 and signed on its behalf by:
 

 

Burcote Style Limited

(Registration number: 14019512)
Balance Sheet as at 30 April 2023

.........................................
Miss Sophie Claire Lecoche
Director

.........................................
Mr Graeme Iain Cartmell
Director

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Mill, Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the Board on 2 October 2023.

The company registration number is 14019512

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight Line

Office Equipment

25% Straight Line

Fixtures & Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Goodwill

Goodwill is the difference between fair value of consideration paid for an acquired entity and the aggregate of the fair value of that's identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

20,000

20,000

At 30 April 2023

20,000

20,000

Amortisation

Amortisation charge

2,000

2,000

At 30 April 2023

2,000

2,000

Carrying amount

At 30 April 2023

18,000

18,000

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

Additions

465

3,715

125

30,013

At 30 April 2023

465

3,715

125

30,013

Depreciation

Charge for the period

93

929

31

7,503

At 30 April 2023

93

929

31

7,503

Carrying amount

At 30 April 2023

372

2,786

94

22,510

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

Total
£

Cost or valuation

Additions

34,318

At 30 April 2023

34,318

Depreciation

Charge for the period

8,556

At 30 April 2023

8,556

Carrying amount

At 30 April 2023

25,762

6

Debtors

Current

2023
£

Trade debtors

4,882

Other debtors

2,693

 

7,575

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

944

Taxation and social security

7,033

Accruals and deferred income

170

Other creditors

51,277

59,424

 

Burcote Style Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 30 April 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100