Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30falseResidential architecture services2023-02-15false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14665518 2023-02-14 14665518 2023-02-15 2023-09-30 14665518 2021-02-16 2023-02-14 14665518 2023-09-30 14665518 c:Director1 2023-02-15 2023-09-30 14665518 c:Director2 2023-02-15 2023-09-30 14665518 c:Director3 2023-02-15 2023-09-30 14665518 c:Director4 2023-02-15 2023-09-30 14665518 d:OfficeEquipment 2023-02-15 2023-09-30 14665518 d:OfficeEquipment 2023-09-30 14665518 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-15 2023-09-30 14665518 d:Goodwill 2023-02-15 2023-09-30 14665518 d:Goodwill 2023-09-30 14665518 d:CurrentFinancialInstruments 2023-09-30 14665518 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 14665518 d:ShareCapital 2023-09-30 14665518 d:RetainedEarningsAccumulatedLosses 2023-09-30 14665518 c:FRS102 2023-02-15 2023-09-30 14665518 c:AuditExempt-NoAccountantsReport 2023-02-15 2023-09-30 14665518 c:FullAccounts 2023-02-15 2023-09-30 14665518 c:PrivateLimitedCompanyLtd 2023-02-15 2023-09-30 14665518 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-02-15 2023-09-30 14665518 d:Goodwill d:OwnedIntangibleAssets 2023-02-15 2023-09-30 14665518 e:PoundSterling 2023-02-15 2023-09-30 iso4217:GBP xbrli:pure
Registered number: 14665518






BURWELL RESIDENTIAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023










img1679.png

 
BURWELL RESIDENTIAL LIMITED
REGISTERED NUMBER:14665518

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
234,569

Tangible assets
 5 
19,185

  
253,754

Current assets
  

Stocks
  
23,578

Debtors: amounts falling due within one year
 6 
123,735

Cash at bank and in hand
 7 
69,569

  
216,882

Creditors: amounts falling due within one year
 8 
(442,584)

Net current (liabilities)/assets
  
 
 
(225,702)

Total assets less current liabilities
  
28,052

  

Net assets
  
28,052


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
27,952

  
28,052


Page 1

 
BURWELL RESIDENTIAL LIMITED
REGISTERED NUMBER:14665518
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N P Burwell
S Parkes
Director
Director



C Gilbert
Director



C Leadlay
Director


Date: 22 March 2024

Page 2

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.


General information

Burwell Residential Limited is a private limited company registered in England and Wales, registration number 14665518. Its registered office is Unit 0.01 California Building, Deals Gateway, London. SE13 7SB. 
The company was incorporated on 15 February 2023 and commenced trading on the 16 May 2023.  From this date its principal activity of the company was that of architectural and engineering services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 6

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 11.

Page 7

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

4.


Intangible assets



Goodwill

£



Cost


Additions
243,709



At 30 September 2023

243,709



Amortisation


Charge for the period on owned assets
9,140



At 30 September 2023

9,140



Net book value



At 30 September 2023
234,569




5.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
20,930



At 30 September 2023

20,930



Depreciation


Charge for the period on owned assets
1,745



At 30 September 2023

1,745



Net book value



At 30 September 2023
19,185

Page 8

 
BURWELL RESIDENTIAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

6.


Debtors

2023
£


Trade debtors
96,503

Prepayments and accrued income
27,232

123,735



7.


Cash and cash equivalents

2023
£

Cash at bank and in hand
69,569

69,569



8.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
5,163

Amounts owed to group undertakings
280,022

Other taxation and social security
132,571

Other creditors
16,805

Accruals and deferred income
8,023

442,584



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £14,154. Contributions totalling £14,154 were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9