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Company Registration No. 08412548 (England and Wales)
Buttercross Estates Limited Unaudited accounts for the year ended 31 August 2023
Buttercross Estates Limited Unaudited accounts Contents
Page
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Buttercross Estates Limited Company Information for the year ended 31 August 2023
Directors
D Otton J Horton
Company Number
08412548 (England and Wales)
Registered Office
Newark Beacon Cafferata Way Newark Nottinghamshire NG24 2TN
Accountants
Future Cloud Accounting Limited 14 Halifax Court Fernwood Business Centre Newark Nottinghamshire NG24 3JP
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Buttercross Estates Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,243 
5,195 
Current assets
Debtors
11,048 
15,347 
Cash at bank and in hand
267,794 
238,340 
278,842 
253,687 
Creditors: amounts falling due within one year
(245,422)
(268,853)
Net current assets/(liabilities)
33,420 
(15,166)
Total assets less current liabilities
37,663 
(9,971)
Creditors: amounts falling due after more than one year
(55,734)
(17,001)
Net liabilities
(18,071)
(26,972)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(18,171)
(27,072)
Shareholders' funds
(18,071)
(26,972)
For the year ending 31 August 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by
D Otton Director Company Registration No. 08412548
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Buttercross Estates Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Buttercross Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 08412548. The registered office is Newark Beacon, Cafferata Way, Newark, Nottinghamshire, NG24 2TN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
At the year end the company's liabilities exceeded its assets by £18,071 (2022: £26,972) .The shareholders have confirmed that they will continue to support the company to enable it to meet its liabilities as they fall due for a period of not less than twelve months from the date of signing the financial statements. The financial statements have therefore been prepared on the going concern basis.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Buttercross Estates Limited Notes to the Accounts for the year ended 31 August 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
4,363 
7,912 
12,275 
Additions
- 
1,365 
1,365 
At 31 August 2023
4,363 
9,277 
13,640 
Depreciation
At 1 September 2022
3,340 
3,740 
7,080 
Charge for the year
544 
1,773 
2,317 
At 31 August 2023
3,884 
5,513 
9,397 
Net book value
At 31 August 2023
479 
3,764 
4,243 
At 31 August 2022
1,023 
4,172 
5,195 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,024 
1,543 
Accrued income and prepayments
3,424 
4,130 
Other debtors
6,600 
9,674 
11,048 
15,347 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
Trade creditors
4,788 
5,041 
Taxes and social security
11,891 
7,479 
Other creditors
222,361 
250,125 
Accruals
382 
208 
245,422 
268,853 
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Buttercross Estates Limited Notes to the Accounts for the year ended 31 August 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
11,001 
17,001 
Other creditors
44,733 
- 
55,734 
17,001 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 August 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
14,702 
16,709 
Later than one year and not later than five years
13,860 
28,557 
28,562 
45,266 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan to director
3,355 
62 
3,841 
(424)
3,355 
62 
3,841 
(424)
It is company policy to charge interest on all overdrawn loan accounts at the HMRC official rate of interest for any balances over £10,000. An amount of £Nil (2022: £nil) has been paid in respect of this.
10
Transactions with related parties
During the period, the company had the following transactions with related parties: A company, which has a common director with Buttercross Estates Limited, has an outstanding loan of £53,036 (2022: £61,649) which is payable by Buttercross Estates Limited. Interest is being charged at 7.5% p.a. (2022: Nil).
11
Average number of employees
During the year the average number of employees was 4 (2022: 6).
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