REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
N R BURTON BUILDERS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
N R BURTON BUILDERS LIMITED |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Contents of the Financial Statements |
for the year ended 30 June 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
N R BURTON BUILDERS LIMITED |
Company Information |
for the year ended 30 June 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
23 Algitha Road |
Skegness |
United Kingdom |
PE25 2AG |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Statement of Financial Position |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Goodwill | 4 |
Tangible assets | 5 |
Current assets |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings | 12 |
Shareholders' funds |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Statement of Financial Position - continued |
30 June 2023 |
The director acknowledges his 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. |
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 |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
1. | Statutory information |
N R Burton Builders Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Amortisation |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
5. | Tangible fixed assets |
Improvements | Plant and | Motor | Computer |
to property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
6. | Stocks |
2023 | 2022 |
£ | £ |
Stocks |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Lincs Loos Ltd | - | 14,111 |
Other debtors |
Directors' current accounts | 20,127 | 2,317 |
VAT |
Prepayments and accrued income |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 646 | - |
Other creditors |
Lincs Loos Ltd | 21,791 | - |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bounceback loan |
Lloyds Bank loan | 45,135 | 48,180 |
10. | Secured debts |
The bank overdraft is secured against the assets of the company. |
The hire purchase liabilities are secured against the assets to which they relate. |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
12. | Reserves |
Retained |
earnings |
£ |
At 1 July 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2023 |
N R BURTON BUILDERS LIMITED (REGISTERED NUMBER: 08093173) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
13. | Director's advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
14. | Related party disclosures |
Lincs County Loos Limited |
A company in which Mr Burton is a shareholder. |
During the year, there were no expenses paid relating to Lincs County Loos Limited (2022 - £4,460). During the year, N R Burton Builders Limited charged Lincs County Loos Limited £9,228 (2022 - £8,220) as a management charge to subsidies joint expenses incurred, eg telephone and motor. During the year, N R Burton received £45,130 from Lincs County Loos Limited. At the year end £21,791 was outstanding to Lincs County Loos Limited. |
The balance is payable on demand. |
2023 | 2022 |
£ | £ |
Amount due (to)/from related party at the balance sheet date | (21,791 | ) | 14,111 |