2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,081 883 3,964 1,039 731 1,770 2,194 2,042 xbrli:pure xbrli:shares iso4217:GBP 12210146 2022-04-01 2023-03-31 12210146 2023-03-31 12210146 2022-03-31 12210146 2021-04-01 2022-03-31 12210146 2022-03-31 12210146 2021-03-31 12210146 bus:Director1 2022-04-01 2023-03-31 12210146 bus:Director2 2022-04-01 2023-03-31 12210146 core:WithinOneYear 2023-03-31 12210146 core:WithinOneYear 2022-03-31 12210146 core:ShareCapital 2023-03-31 12210146 core:ShareCapital 2022-03-31 12210146 core:RetainedEarningsAccumulatedLosses 2023-03-31 12210146 core:RetainedEarningsAccumulatedLosses 2022-03-31 12210146 bus:Director1 2022-03-31 12210146 bus:Director1 2023-03-31 12210146 bus:Director2 2022-03-31 12210146 bus:Director2 2023-03-31 12210146 bus:Director1 2021-03-31 12210146 bus:Director1 2022-03-31 12210146 bus:Director2 2021-03-31 12210146 bus:Director2 2022-03-31 12210146 bus:Director1 2021-04-01 2022-03-31 12210146 bus:Director2 2021-04-01 2022-03-31 12210146 bus:SmallEntities 2022-04-01 2023-03-31 12210146 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12210146 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12210146 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12210146 bus:FullAccounts 2022-04-01 2023-03-31 12210146 core:OfficeEquipment 2022-04-01 2023-03-31 12210146 core:OfficeEquipment 2022-03-31 12210146 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 12210146
BURGWAY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
BURGWAY LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
2,194
2,042
CURRENT ASSETS
Debtors
6
80,798
20,731
Cash at bank and in hand
19,790
134,618
----------
----------
100,588
155,349
CREDITORS: amounts falling due within one year
7
38,140
63,956
----------
----------
NET CURRENT ASSETS
62,448
91,393
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
64,642
93,435
PROVISIONS
417
388
--------
--------
NET ASSETS
64,225
93,047
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
64,223
93,045
--------
--------
SHAREHOLDERS FUNDS
64,225
93,047
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BURGWAY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 30 June 2023 , and are signed on behalf of the board by:
Dr A Burgin
Mrs J Burgin
Director
Director
Company registration number: 12210146
BURGWAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fulford Lodge, 1 Heslington Lane, Fulford, York, YO10 4HW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic or Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year-end date is recognised by reference to the stage of completion.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(i) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Equipment
£
Cost
At 1 April 2022
3,081
Additions
883
-------
At 31 March 2023
3,964
-------
Depreciation
At 1 April 2022
1,039
Charge for the year
731
-------
At 31 March 2023
1,770
-------
Carrying amount
At 31 March 2023
2,194
-------
At 31 March 2022
2,042
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
19,129
19,252
Other debtors
61,669
1,479
--------
--------
80,798
20,731
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
32,139
Corporation tax
38,140
30,161
Director loan accounts
1,656
--------
--------
38,140
63,956
--------
--------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Dr A Burgin
( 828)
138,661
( 107,048)
30,785
Mrs J Burgin
( 828)
138,662
( 107,047)
30,787
-------
----------
----------
--------
( 1,656)
277,323
( 214,095)
61,572
-------
----------
----------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Dr A Burgin
( 834)
71,047
( 71,042)
(829)
Mrs J Burgin
( 834)
71,048
( 71,042)
( 828)
-------
----------
----------
-------
( 1,668)
142,095
( 142,084)
(1,657)
-------
----------
----------
-------
9. RELATED PARTY TRANSACTIONS
During the year the directors made available a loan with the company. At the year end the directors owed the company £ 61,573 (2022 - -£ 1,656 )