4 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 60,000 53,500 3,000 56,500 3,500 6,500 41,937 37,987 1,708 39,695 2,242 3,950 xbrli:pure xbrli:shares iso4217:GBP 05201555 2022-09-01 2023-08-31 05201555 2023-08-31 05201555 2022-08-31 05201555 2021-09-01 2022-08-31 05201555 2022-08-31 05201555 core:FurnitureFittings 2022-09-01 2023-08-31 05201555 core:NetGoodwill 2022-09-01 2023-08-31 05201555 bus:Director2 2022-09-01 2023-08-31 05201555 core:NetGoodwill 2022-08-31 05201555 core:NetGoodwill 2023-08-31 05201555 core:FurnitureFittings 2022-08-31 05201555 core:FurnitureFittings 2023-08-31 05201555 core:WithinOneYear 2023-08-31 05201555 core:WithinOneYear 2022-08-31 05201555 core:ShareCapital 2023-08-31 05201555 core:ShareCapital 2022-08-31 05201555 core:RetainedEarningsAccumulatedLosses 2023-08-31 05201555 core:RetainedEarningsAccumulatedLosses 2022-08-31 05201555 core:NetGoodwill 2022-08-31 05201555 core:FurnitureFittings 2022-08-31 05201555 bus:SmallEntities 2022-09-01 2023-08-31 05201555 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 05201555 bus:FullAccounts 2022-09-01 2023-08-31 05201555 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05201555 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 05201555
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
FINANCIAL STATEMENTS
Year ended 31 August 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
3
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
BALANCE SHEET
31 August 2023
2023
2022
Note
£
£
FIXED ASSETS
Intangible assets
5
3,500
6,500
Tangible assets
6
2,242
3,950
-------
--------
5,742
10,450
CURRENT ASSETS
Debtors
7
66,404
55,893
Cash at bank and in hand
15,888
19,444
--------
--------
82,292
75,337
CREDITORS: amounts falling due within one year
8
( 47,398)
( 52,073)
--------
--------
NET CURRENT ASSETS
34,894
23,264
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
40,636
33,714
PROVISIONS
( 509)
( 715)
--------
--------
NET ASSETS
40,127
32,999
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
40,125
32,997
--------
--------
SHAREHOLDERS FUNDS
40,127
32,999
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
BALANCE SHEET (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 29 January 2024 , and are signed on behalf of the board by:
Mr W G Buckle
Director
Company registration number: 05201555
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 August 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mill House, Llancayo Court, Llancayo, Usk, Monmouthshire, NP15 1HY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 20 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2022: 6 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
60,000
--------
Amortisation
At 1 September 2022
53,500
Charge for the year
3,000
--------
At 31 August 2023
56,500
--------
Carrying amount
At 31 August 2023
3,500
--------
At 31 August 2022
6,500
--------
6. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 1 September 2022 and 31 August 2023
41,937
--------
Depreciation
At 1 September 2022
37,987
Charge for the year
1,708
--------
At 31 August 2023
39,695
--------
Carrying amount
At 31 August 2023
2,242
--------
At 31 August 2022
3,950
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
49,958
55,893
Other debtors
16,446
--------
--------
66,404
55,893
--------
--------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,816
4,627
Corporation tax
2,552
12,699
Social security and other taxes
35,768
26,529
Other creditors
4,262
8,218
--------
--------
47,398
52,073
--------
--------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within debtors is a balance of £16,446 (2022 - £4,042 creditor) due from the directors. These balances are interest free and repayable on demand. The following transactions took place between the directors and the company during the year;
Director 1 Director 2
£ £
Opening balance (2,142) (1,900)
Amounts drawn 15,721 4,767
---------- ----------
Closing balance 13,579 2,867
---------- ----------