Registered number
02596608
Raymond H Burrell Associates Ltd
Unaudited Filleted Accounts
31 March 2023
Raymond H Burrell Associates Ltd
Registered number: 02596608
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,207 24,008
Current assets
Stocks 106,602 106,203
Debtors 4 499,674 252,897
Cash at bank and in hand 71,383 128,575
677,659 487,675
Creditors: amounts falling due within one year 5 (435,699) 84,933
Net current assets 241,960 572,608
Total assets less current liabilities 261,167 596,616
Creditors: amounts falling due after more than one year 6 - (4,033)
Net assets 261,167 592,583
Capital and reserves
Called up share capital 333 333
Profit and loss account 260,834 592,250
Shareholders' funds 261,167 592,583
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D. Burrell
Director
Approved by the board on 5 March 2024
Raymond H Burrell Associates Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 5 years
Plant and machinery over 5 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 25,005 66,646 91,651
At 31 March 2023 25,005 66,646 91,651
Depreciation
At 1 April 2022 19,199 48,444 67,643
Charge for the year 1,161 3,640 4,801
At 31 March 2023 20,360 52,084 72,444
Net book value
At 31 March 2023 4,645 14,562 19,207
At 31 March 2022 5,806 18,202 24,008
4 Debtors 2023 2022
£ £
Trade debtors 812,711 525,901
Bad debt provision (434,530) (434,530)
Other debtors 121,493 161,526
499,674 252,897
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 192,996 (304,273)
Obligations under finance lease and hire purchase contracts - 6,793
Director's current account 10 4,291
Amounts owed to group undertakings and undertakings in which the company has a participating interest 215,097 184,023
Taxation and social security costs 4,236 4,299
Value added tax 23,360 19,934
435,699 (84,933)
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 4,033
- 4,033
7 Controlling party
The director D. Burrell also has controlling interests in Burrell R & D Ltd and D. C. Power Solutions Ltd (Dormant) both registered in England.
8 Other information
Raymond H Burrell Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Torrington Road
Claygate, Esher
Surrey
KT10 0SA
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