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REGISTERED NUMBER: 06896399 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Butlers Financial Limited

Butlers Financial Limited (Registered number: 06896399)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Butlers Financial Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mrs H Meagher





REGISTERED OFFICE: Suite 6 Burley House
15 High Street
Rayleigh
Essex
SS6 7EW





REGISTERED NUMBER: 06896399 (England and Wales)





ACCOUNTANTS: Butlers Chartered Accountants
Suite 6 Burley House
15 High Street
Rayleigh
Essex
SS6 7EW

Butlers Financial Limited (Registered number: 06896399)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 247,963 7,494

CURRENT ASSETS
Debtors 5 62,733 86,531
Cash at bank and in hand 117,244 88,433
179,977 174,964
CREDITORS
Amounts falling due within one year 6 178,601 105,228
NET CURRENT ASSETS 1,376 69,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,339

77,230

CREDITORS
Amounts falling due after more than one
year

7

(196,009

)

(31,813

)

PROVISIONS FOR LIABILITIES (1,424 ) (1,424 )
NET ASSETS 51,906 43,993

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 51,806 43,893
SHAREHOLDERS' FUNDS 51,906 43,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Butlers Financial Limited (Registered number: 06896399)

Balance Sheet - continued
31 May 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 director and authorised for issue on 23 February 2024 and were signed by:





Mrs H Meagher - Director


Butlers Financial Limited (Registered number: 06896399)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Butlers Financial Limited 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.
Long leasehold - in accordance with the property
Fixtures and fittings - 20% on reducing balance

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 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.

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

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 6 (2022 - 6 ) .

Butlers Financial Limited (Registered number: 06896399)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 June 2022 - 18,540 18,540
Additions 240,627 1,676 242,303
At 31 May 2023 240,627 20,216 260,843
DEPRECIATION
At 1 June 2022 - 11,046 11,046
Charge for year - 1,834 1,834
At 31 May 2023 - 12,880 12,880
NET BOOK VALUE
At 31 May 2023 240,627 7,336 247,963
At 31 May 2022 - 7,494 7,494

Included in cost of land and buildings is freehold land of £ 240,627 (2022 - £ 0 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 54,278 79,242
Other debtors 8,455 7,289
62,733 86,531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,930 5,000
Trade creditors 15,023 8,196
Taxation and social security 25,600 21,448
Other creditors 127,048 70,584
178,601 105,228

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 196,009 31,813

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 152,199 14,813

Butlers Financial Limited (Registered number: 06896399)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 9,000 -
In more than five years - 54,000
9,000 54,000

The company has a 5 year lease over it's operating offices, which carries a personal guarantee from H Meagher. The lease has been relinquished upon the break clause on 17th May 2024.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 206,939 -

A loan of £172,500 is secured upon the leasehold property of the company.

10. ULTIMATE CONTROLLING PARTY

The company was under the ultimate control of Ms H. Meagher due to her position as director and majority shareholder.