Guy Butcher Limited 05107557 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Construction Services and Contracting Digita Accounts Production Advanced 6.30.9574.0 true true 05107557 2022-04-01 2023-03-31 05107557 2023-03-31 05107557 bus:OrdinaryShareClass1 2023-03-31 05107557 core:CurrentFinancialInstruments 2023-03-31 05107557 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05107557 core:FurnitureFittingsToolsEquipment 2023-03-31 05107557 bus:SmallEntities 2022-04-01 2023-03-31 05107557 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05107557 bus:AbridgedAccounts 2022-04-01 2023-03-31 05107557 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05107557 bus:RegisteredOffice 2022-04-01 2023-03-31 05107557 bus:CompanySecretary1 2022-04-01 2023-03-31 05107557 bus:Director2 2022-04-01 2023-03-31 05107557 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05107557 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05107557 core:Goodwill 2022-04-01 2023-03-31 05107557 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 05107557 core:PlantMachinery 2022-04-01 2023-03-31 05107557 countries:UnitedKingdom 2022-04-01 2023-03-31 05107557 2022-03-31 05107557 core:FurnitureFittingsToolsEquipment 2022-03-31 05107557 2021-04-01 2022-03-31 05107557 2022-03-31 05107557 bus:OrdinaryShareClass1 2022-03-31 05107557 core:CurrentFinancialInstruments 2022-03-31 05107557 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05107557 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05107557

Guy Butcher Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Guy Butcher Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 8

 

Guy Butcher Limited

Company Information

Director

Mr G C Butcher

Company secretary

Mrs A K Butcher

Registered office

49 Birchy Barton Hill
Exeter
EX1 3EX

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Guy Butcher Limited

(Registration number: 05107557)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

32,000

32,000

Tangible assets

5

14,907

16,564

 

46,907

48,564

Current assets

 

Debtors

6

10,003

7,138

Prepayments and accrued income

 

115

115

Creditors: Amounts falling due within one year

(51,940)

(52,845)

Net current liabilities

 

(41,822)

(45,592)

Net assets

 

5,085

2,972

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

4,985

2,872

Shareholders' funds

 

5,085

2,972

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2023
 

.........................................
Mr G C Butcher
Director

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
49 Birchy Barton Hill
Exeter
EX1 3EX

These financial statements were authorised for issue by the director on 31 October 2023.

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 abridged 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 abridged 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.

Going concern

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

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.

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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, Equipment and Machinery

10% on Net Book Value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 1 (2022 - 1).

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2022

32,000

At 31 March 2023

32,000

Amortisation

Carrying amount

At 31 March 2023

32,000

At 31 March 2022

32,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

25,836

25,836

At 31 March 2023

25,836

25,836

Depreciation

At 1 April 2022

9,272

9,272

Charge for the year

1,657

1,657

At 31 March 2023

10,929

10,929

Carrying amount

At 31 March 2023

14,907

14,907

At 31 March 2022

16,564

16,564

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £1.00 (2022 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2022 - £239.00) per ordinary share

 

19,500

 

23,900

   

19,500

 

23,900

         

Final dividends paid

Interim dividends paid

Recommended final dividends paid and not recognised in the accounts

The director is recommending the following final dividends:

These dividends have not been accrued in the balance sheet.

9

Related party transactions

 

Guy Butcher Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,100

8,840