IRIS Accounts Production v23.4.0.336 11011315 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh110113152022-12-31110113152023-12-31110113152023-01-012023-12-31110113152021-12-31110113152022-01-012022-12-31110113152022-12-3111011315ns15:EnglandWales2023-01-012023-12-3111011315ns14:PoundSterling2023-01-012023-12-3111011315ns10:Director12023-01-012023-12-3111011315ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111011315ns10:SmallEntities2023-01-012023-12-3111011315ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111011315ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111011315ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111011315ns10:FullAccounts2023-01-012023-12-311101131512023-01-012023-12-3111011315ns10:Director22023-01-012023-12-3111011315ns10:Director32023-01-012023-12-3111011315ns10:Director42023-01-012023-12-3111011315ns10:RegisteredOffice2023-01-012023-12-3111011315ns5:CurrentFinancialInstruments2023-12-3111011315ns5:CurrentFinancialInstruments2022-12-3111011315ns5:Non-currentFinancialInstruments2023-12-3111011315ns5:Non-currentFinancialInstruments2022-12-3111011315ns5:ShareCapital2023-12-3111011315ns5:ShareCapital2022-12-3111011315ns5:SharePremium2023-12-3111011315ns5:SharePremium2022-12-3111011315ns5:RetainedEarningsAccumulatedLosses2023-12-3111011315ns5:RetainedEarningsAccumulatedLosses2022-12-3111011315ns5:NetGoodwill2023-01-012023-12-3111011315ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111011315ns5:NetGoodwill2022-12-3111011315ns5:NetGoodwill2023-12-3111011315ns5:NetGoodwill2022-12-3111011315ns5:LandBuildings2022-12-3111011315ns5:PlantMachinery2022-12-3111011315ns5:LandBuildings2023-01-012023-12-3111011315ns5:PlantMachinery2023-01-012023-12-3111011315ns5:LandBuildings2023-12-3111011315ns5:PlantMachinery2023-12-3111011315ns5:LandBuildings2022-12-3111011315ns5:PlantMachinery2022-12-3111011315ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111011315ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111011315ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3111011315ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3111011315ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3111011315ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3111011315ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3111011315ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-31
REGISTERED NUMBER: 11011315 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BURFIELDS HOUSE WEALTH MANAGEMENT LTD

BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BURFIELDS HOUSE WEALTH MANAGEMENT LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: D J Cole
S Cole
R F Quirt
G Hobden





REGISTERED OFFICE: Burfields House
The Plain
Goudhurst
Kent
TN17 1AD





REGISTERED NUMBER: 11011315 (England and Wales)





ACCOUNTANTS: Robsons Accountants
19 Montpelier Avenue
Bexley
Kent
DA5 3AP

BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,453,535 3,813,846
Tangible assets 5 42,439 56,787
3,495,974 3,870,633

CURRENT ASSETS
Debtors 6 207,543 188,700
Cash at bank 526,653 424,031
734,196 612,731
CREDITORS
Amounts falling due within one year 7 (672,454 ) (675,916 )
NET CURRENT ASSETS/(LIABILITIES) 61,742 (63,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,557,716

3,807,448

CREDITORS
Amounts falling due after more than one
year

8

(1,419,023

)

(1,715,005

)
NET ASSETS 2,138,693 2,092,443

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 938,196 938,196
Retained earnings 1,200,297 1,154,047
SHAREHOLDERS' FUNDS 2,138,693 2,092,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)

BALANCE SHEET - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





D J Cole - Director


BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Burfields House Wealth Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 5,272,509
Additions 4,857
Disposals (15,750 )
At 31 December 2023 5,261,616
AMORTISATION
At 1 January 2023 1,458,663
Charge for year 349,418
At 31 December 2023 1,808,081
NET BOOK VALUE
At 31 December 2023 3,453,535
At 31 December 2022 3,813,846

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 27,018 50,112 77,130
Additions - 7,665 7,665
At 31 December 2023 27,018 57,777 84,795
DEPRECIATION
At 1 January 2023 5,404 14,939 20,343
Charge for year 5,404 16,609 22,013
At 31 December 2023 10,808 31,548 42,356
NET BOOK VALUE
At 31 December 2023 16,210 26,229 42,439
At 31 December 2022 21,614 35,173 56,787

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 178,022 152,323
Prepayments 29,521 36,377
207,543 188,700

BURFIELDS HOUSE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11011315)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 301,829 284,580
Trade creditors 16,769 41,010
Tax 266,379 263,904
Social security and other taxes 28,978 19,015
Credit card 1,659 3,470
Pension fund 3,349 2,410
Accrued expenses 53,491 61,527
672,454 675,916

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 301,829 284,580
Bank loans - 2-5 years 845,571 853,741
Bank loans more 5 yr by instal 259,075 545,215
Directors loan account 12,548 31,469
1,419,023 1,715,005

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 259,075 545,215

9. OTHER FINANCIAL COMMITMENTS

The company acts as a guarantor to a personal loan in the name of the director, the balance outstanding on the loan as at 31/12/2023 was £432245.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company acts as a guarantor to a personal loan in the name of the director, the balance outstanding on the loan as at 31/12/2023 was £432245.