Acorah Software Products - Accounts Production 14.5.501 false true 28 February 2022 1 March 2021 true 1 March 2022 28 February 2023 28 February 2023 05371184 P B De Witt D S Lubbe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05371184 2022-02-28 05371184 2023-02-28 05371184 2022-03-01 2023-02-28 05371184 frs-core:CurrentFinancialInstruments 2023-02-28 05371184 frs-core:Non-currentFinancialInstruments 2023-02-28 05371184 frs-core:FurnitureFittings 2023-02-28 05371184 frs-core:FurnitureFittings 2022-03-01 2023-02-28 05371184 frs-core:FurnitureFittings 2022-02-28 05371184 frs-core:InvestmentPropertyIncludedWithinPPE 2023-02-28 05371184 frs-core:InvestmentPropertyIncludedWithinPPE 2022-02-28 05371184 frs-core:OtherReservesSubtotal 2023-02-28 05371184 frs-core:ShareCapital 2023-02-28 05371184 frs-core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 05371184 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 05371184 frs-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05371184 frs-bus:FullAccounts 2022-03-01 2023-02-28 05371184 frs-bus:SmallEntities 2022-03-01 2023-02-28 05371184 frs-bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05371184 frs-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 05371184 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-03-01 2023-02-28 05371184 frs-bus:Director1 2022-03-01 2023-02-28 05371184 frs-bus:Director2 2022-03-01 2023-02-28 05371184 frs-countries:EnglandWales 2022-03-01 2023-02-28 05371184 2021-02-28 05371184 2022-02-28 05371184 2021-03-01 2022-02-28 05371184 frs-core:CurrentFinancialInstruments 2022-02-28 05371184 frs-core:Non-currentFinancialInstruments 2022-02-28 05371184 frs-core:OtherReservesSubtotal 2021-02-28 05371184 frs-core:OtherReservesSubtotal 2022-02-28 05371184 frs-core:ShareCapital 2021-02-28 05371184 frs-core:ShareCapital 2022-02-28 05371184 frs-core:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 05371184 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-02-28 05371184 frs-core:RetainedEarningsAccumulatedLosses 2022-02-28
Registered number: 05371184
Burly & Birch Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 28 February 2023
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors P B De Witt
D S Lubbe
Company Number 05371184
Registered Office Bank House
81 St Judes Road
Englefield Green
Surrey
TW20 0DF
Accountants Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
Surrey
TW20 0DF
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 28 February 2023.
Principal Activity
The company's principal activity continues to be that of property rental.
Directors
The directors who held office during the year were as follows:
P B De Witt
D S Lubbe
Small Company Rules
This report has 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.
On behalf of the board
D S Lubbe
Director
04/04/2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 28 February 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
04/04/2024
Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
Surrey
TW20 0DF
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 25,859 34,365
GROSS PROFIT 25,859 34,365
Administrative expenses (39,722 ) (29,653 )
OPERATING (LOSS)/PROFIT (13,863 ) 4,712
Interest payable and similar charges (9,767 ) (8,322 )
LOSS FOR THE FINANCIAL YEAR (23,630 ) (3,610 )
The notes on pages 8 to 10 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 745,591 747,315
745,591 747,315
CURRENT ASSETS
Debtors 5 - 1,359
Cash at bank and in hand 845 2,013
845 3,372
Creditors: Amounts Falling Due Within One Year 6 (26,368 ) (23,229 )
NET CURRENT ASSETS (LIABILITIES) (25,523 ) (19,857 )
TOTAL ASSETS LESS CURRENT LIABILITIES 720,068 727,458
Creditors: Amounts Falling Due After More Than One Year 7 (473,919 ) (457,679 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (69,607 ) (69,607 )
NET ASSETS 176,542 200,172
CAPITAL AND RESERVES
Called up share capital 8 3 3
Other reserves 296,748 296,748
Profit and Loss Account (120,209 ) (96,579 )
SHAREHOLDERS' FUNDS 176,542 200,172
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Page 6
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
D S Lubbe
Director
04/04/2024
The notes on pages 8 to 10 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Other reserves Profit and Loss Account Total
£ £ £ £
As at 1 March 2021 3 296,748 (92,969 ) 203,782
Loss for the year and total comprehensive income - - (3,610 ) (3,610)
As at 28 February 2022 and 1 March 2022 3 296,748 (96,579 ) 200,172
Loss for the year and total comprehensive income - - (23,630 ) (23,630)
As at 28 February 2023 3 296,748 (120,209 ) 176,542
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Page 8
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover represents rents receivable on properties within the UK. Rents are receivable on a monthly basis and where payments are receivable from tenants for periods ending after the balance sheet date, the relevant proportion of rent receivable is recorded as deferred income and included as part of creditors due within one year.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
1.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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1.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 3)
3 3
3. Taxation
The company has £98,958 (2022: £77,053) of carried forward losses that can be utilised against future taxable profits.
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2022 727,000 45,952 772,952
Additions - 8,983 8,983
As at 28 February 2023 727,000 54,935 781,935
Depreciation
As at 1 March 2022 - 25,637 25,637
Provided during the period - 10,707 10,707
As at 28 February 2023 - 36,344 36,344
Net Book Value
As at 28 February 2023 727,000 18,591 745,591
As at 1 March 2022 727,000 20,315 747,315
5. Debtors
2023 2022
£ £
Due within one year
Other debtors - 1,359
- 1,359
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 19,019 19,019
Other creditors 5,549 2,482
Accruals and deferred income 1,800 1,728
26,368 23,229
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 154,334 165,235
Other creditors 319,585 292,444
473,919 457,679
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
9. Related Party Transactions
Included under creditors are amounts owed to related parties:
Investgro (Pty) Limited: £22,641 (2022: £1,362 owed to the company)
Zami Trust: £59,622 (2022: £59,622)
Kuimba Trust: £77,921 (2022: £77,921)
Nikera1 Trust: £159,401 (2022: £154,901)
These amounts are unsecured, interest-free and have no fixed terms of repayment.
10. General Information
Burly & Birch Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05371184 . The registered office is Bank House, 81 St Judes Road, Englefield Green, Surrey, TW20 0DF.
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