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REGISTERED NUMBER: 03816587 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Burfitt & Garrett Ltd

Burfitt & Garrett Ltd (Registered number: 03816587)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Burfitt & Garrett Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr I Burfitt
Mr S J Garrett
Mrs S C Burfitt
Mrs V Garrett





REGISTERED OFFICE: 5 Whitebridge Industrial Estate
Semley
Shaftesbury
Dorset
SP7 9JT





REGISTERED NUMBER: 03816587 (England and Wales)





ACCOUNTANTS: Ward Goodman
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Burfitt & Garrett Ltd (Registered number: 03816587)

Abridged Statement of Financial Position
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 165,335 180,202
171,335 189,202

CURRENT ASSETS
Stocks 81,989 194,621
Debtors 167,403 186,167
Prepayments and accrued income 18,237 19,327
Cash at bank and in hand 528,536 626,756
796,165 1,026,871
CREDITORS
Amounts falling due within one year 482,564 754,507
NET CURRENT ASSETS 313,601 272,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,936

461,566

CREDITORS
Amounts falling due after more than one year (28,522 ) (41,520 )

PROVISIONS FOR LIABILITIES (35,743 ) (35,228 )

ACCRUALS AND DEFERRED INCOME (41,224 ) (12,600 )
NET ASSETS 379,447 372,218

Burfitt & Garrett Ltd (Registered number: 03816587)

Abridged Statement of Financial Position - continued
31 August 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4,604 4,604
Retained earnings 374,843 367,614
SHAREHOLDERS' FUNDS 379,447 372,218

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 April 2024 and were signed on its behalf by:




Mr I Burfitt - Director



Mr S J Garrett - Director


Burfitt & Garrett Ltd (Registered number: 03816587)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Burfitt & Garrett 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of general construction work plus the uninvoiced amount of work certified on long-term contracts, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Burfitt & Garrett Ltd (Registered number: 03816587)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Long-term contracts
Revenue from long-term contracts is recognised on the basis of work completed, measured by percentage of costs incurred to date with total expected costs.

Profit on long-term contracts is taken only when their outcome can be foreseen with reasonable certainty, based upon the lower of the percentage margin earned to date and that prudently forecast at completion in conjunction with the value of revenue recognised. Foreseeable losses on contracts in progress at the balance sheet date are recognised in full.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 40 ) .

Burfitt & Garrett Ltd (Registered number: 03816587)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 60,000
AMORTISATION
At 1 September 2022 51,000
Amortisation for year 3,000
At 31 August 2023 54,000
NET BOOK VALUE

At 31 August 2023 6,000
At 31 August 2022 9,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 327,892
Additions 33,279
Disposals (33,911 )
At 31 August 2023 327,260
DEPRECIATION
At 1 September 2022 147,690
Charge for year 46,137
Eliminated on disposal (31,902 )
At 31 August 2023 161,925
NET BOOK VALUE
At 31 August 2023 165,335
At 31 August 2022 180,202

Burfitt & Garrett Ltd (Registered number: 03816587)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals
£   
COST
At 1 September 2022
and 31 August 2023 121,119
DEPRECIATION
At 1 September 2022 26,038
Charge for year 23,770
At 31 August 2023 49,808
NET BOOK VALUE
At 31 August 2023 71,311
At 31 August 2022 95,081

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr S J Garrett
Balance outstanding at start of year (3,988 ) (4,644 )
Amounts advanced 136,210 103,408
Amounts repaid (117,373 ) (102,752 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,849 (3,988 )