REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 May 2023 |
for |
Burchell Homes Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31 May 2023 |
for |
Burchell Homes Ltd |
Burchell Homes Ltd (Registered number: 10785588) |
Contents of the Financial Statements |
For The Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Burchell Homes Ltd |
Company Information |
For The Year Ended 31 May 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6 Victoria Avenue |
Harrogate |
North Yorkshire |
HG1 1ED |
Burchell Homes Ltd (Registered number: 10785588) |
Abridged Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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. |
Burchell Homes Ltd (Registered number: 10785588) |
Abridged Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Burchell Homes Ltd (Registered number: 10785588) |
Notes to the Financial Statements |
For The Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Burchell Homes Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis of accounting. The company is considered to be a going concern with the support of the director. |
Turnover |
Turnover represents amounts receivable on rental agreements. |
As the company's primary source of income, rental income is reported within turnover and 2021 rental income, which was previously reported within other operating income, has been re-categorised accordingly. |
Tangible fixed assets |
Fixtures and equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Burchell Homes Ltd (Registered number: 10785588) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Government grants |
Capital grants and other contributions received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate. Revenue grants which do not relate to specific expenditure are recognised on receipt. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Burchell Homes Ltd (Registered number: 10785588) |
Notes to the Financial Statements - continued |
For The Year Ended 31 May 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
The original cost of the investment property was £376,701. The original cost was restated to market value of £350,000 on 18 December 2018 by ECS Group. The director considers that this valuation is still appropriate as at 31 May 2023. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable otherwise than by instalments |
Other loans |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loan | 184,698 | 184,671 |
The loan is secured by way of a legal mortgage against the property. |