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REGISTERED NUMBER: 06373717 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GRAHAM BUTT ESTATE AGENTS LIMITED

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

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


GRAHAM BUTT ESTATE AGENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G R Butt
C Butt
D R Butt
G L Cox



SECRETARY: G R Butt



REGISTERED OFFICE: 75 High Street
Littlehampton
West Sussex
BN17 5AG



REGISTERED NUMBER: 06373717 (England and Wales)



ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY



BANKERS: Barclays Bank Plc
Chapel Road Worthing Branch
Chapel Road
Worthing
West Sussex
BN11 1EX

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 133,959 150,705
Tangible assets 5 14,212 18,529
148,171 169,234

CURRENT ASSETS
Stocks 139,990 129,291
Debtors 6 45,439 112,964
Cash at bank and in hand 56,933 110,777
242,362 353,032
CREDITORS
Amounts falling due within one year 7 352,123 247,191
NET CURRENT (LIABILITIES)/ASSETS (109,761 ) 105,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,410

275,075

CREDITORS
Amounts falling due after more than one
year

8

91,064

135,634
NET (LIABILITIES)/ASSETS (52,654 ) 139,441

CAPITAL AND RESERVES
Called up share capital 10 950 950
Capital redemption reserve 50 50
Retained earnings (53,654 ) 138,441
SHAREHOLDERS' FUNDS (52,654 ) 139,441

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.

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

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 August 2024 and were signed on its behalf by:




G R Butt - Director D R Butt - Director




G L Cox - Director


GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Graham Butt Estate Agents Limited 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.

The financial statements have been prepared on a going concern basis on the assessment of the directors.

The directors have indicated their intention to continue to support the trading activities of the company for the foreseeable future.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue represents net invoiced commissions, excluding value added tax recognised when the commissions are due.

Revenue is recognised at the point that the property is exchanged.

Goodwill
Goodwill, being the amount paid in connection with the acquisitions of businesses in 2010 and 2021, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is calculated as sales that have been agreed but have not yet been completed.

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.


GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 467,451
AMORTISATION
At 1 January 2023 316,746
Amortisation for year 16,746
At 31 December 2023 333,492
NET BOOK VALUE
At 31 December 2023 133,959
At 31 December 2022 150,705

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 71,844 9,897 14,977 96,718
Additions - - 718 718
At 31 December 2023 71,844 9,897 15,695 97,436
DEPRECIATION
At 1 January 2023 65,012 2,474 10,703 78,189
Charge for year 1,944 1,856 1,235 5,035
At 31 December 2023 66,956 4,330 11,938 83,224
NET BOOK VALUE
At 31 December 2023 4,888 5,567 3,757 14,212
At 31 December 2022 6,832 7,423 4,274 18,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,466 31,308
Other debtors 16,973 81,656
45,439 112,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 17,416 24,701
Amounts owed to connected companies 226,410 99,584
Taxation and social security 3,165 41,524
Other creditors 85,132 61,382
352,123 247,191

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 31,668 51,668
Other creditors 59,396 83,966
91,064 135,634

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 71,434 89,558
Between one and five years 199,051 228,324
In more than five years 180,000 225,000
450,485 542,882

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
95,000 Ordinary 1p 950 950

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
G R Butt
Balance outstanding at start of year 15,765 -
Amounts advanced 36,922 22,500
Amounts repaid (42,932 ) (6,735 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,755 15,765

C Butt
Balance outstanding at start of year 16,283 -
Amounts advanced 43,640 22,500
Amounts repaid (59,923 ) (6,217 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 16,283

D R Butt
Balance outstanding at start of year 39,629 -
Amounts advanced 32,394 45,846
Amounts repaid (72,023 ) (6,217 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 39,629

GRAHAM BUTT ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06373717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G L Cox
Balance outstanding at start of year - -
Amounts advanced 5,500 -
Amounts repaid (5,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above advances are on an interest free basis and are repayable on demand.

12. RELATED PARTY DISCLOSURES

Graham Butt Lettings Limited
A company under common control

Both companies operate a current account with each other so that certain transactions can be financed by the other party, if considered necessary.

Amount due to related party at the balance sheet date £226,410 (2022: £99,584) which is on an interest free basis and repayable on demand.