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REGISTERED NUMBER: 05826329 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GRAHAM BUTT LETTINGS LIMITED

GRAHAM BUTT LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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 LETTINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







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



SECRETARY: G R Butt



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



REGISTERED NUMBER: 05826329 (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 LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,666 9,802
8,666 9,802

CURRENT ASSETS
Debtors 6 256,314 167,894
Cash at bank and in hand 34,565 129,934
290,879 297,828
CREDITORS
Amounts falling due within one year 7 159,551 151,250
NET CURRENT ASSETS 131,328 146,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,994

156,380

CREDITORS
Amounts falling due after more than one
year

8

(15,834

)

(25,834

)

PROVISIONS FOR LIABILITIES 10 (2,080 ) (2,451 )
NET ASSETS 122,080 128,095

CAPITAL AND RESERVES
Called up share capital 950 950
Capital redemption reserve 50 50
Retained earnings 121,080 127,095
SHAREHOLDERS' FUNDS 122,080 128,095

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 LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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




Mrs G L Cox - Director


GRAHAM BUTT LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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


1. STATUTORY INFORMATION

Graham Butt Lettings 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.

Turnover
Revenue is measured at fair value of the consideration received or receivable.

Revenue from commissions received for letting and managing properties is recognised when rents are received under the terms of the letting agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was being amortised evenly over its estimated useful life of ten years. In 2017 the goodwill was fully amortised.

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

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.

GRAHAM BUTT LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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


2. ACCOUNTING POLICIES - continued

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 12 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 200,000
AMORTISATION
At 1 January 2023
and 31 December 2023 200,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 37,302 2,659 8,568 48,529
Additions 730 - 899 1,629
At 31 December 2023 38,032 2,659 9,467 50,158
DEPRECIATION
At 1 January 2023 32,895 2,573 3,259 38,727
Charge for year 1,247 22 1,496 2,765
At 31 December 2023 34,142 2,595 4,755 41,492
NET BOOK VALUE
At 31 December 2023 3,890 64 4,712 8,666
At 31 December 2022 4,407 86 5,309 9,802

GRAHAM BUTT LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected companies 226,410 99,584
Other debtors 29,904 68,310
256,314 167,894

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,650 10,864
Taxation and social security 53,059 46,278
Other creditors 89,842 84,108
159,551 151,250

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,834 25,834

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 27,668 30,189
Between one and five years 55,747 66,590
In more than five years 66,000 77,000
149,415 173,779

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,080 2,451

Deferred
tax
£   
Balance at 1 January 2023 2,451
Credit to Income Statement during year (371 )
Balance at 31 December 2023 2,080

GRAHAM BUTT LETTINGS LIMITED (REGISTERED NUMBER: 05826329)

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


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 40,532 70,323
Amounts advanced 26,860 52,500
Amounts repaid (40,532 ) (82,291 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,860 40,532

Mrs C Butt
Balance outstanding at start of year 17,913 41,374
Amounts advanced 13,840 52,500
Amounts repaid (31,753 ) (75,961 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,913

Mrs G L Cox
Balance outstanding at start of year 2,301 3,950
Amounts advanced - 10,725
Amounts repaid (2,301 ) (12,374 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,301

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

12. RELATED PARTY DISCLOSURES

Graham Butt Estate Agents 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 from related party at the balance sheet date: £226,410 (2022: £99,584)which is on an interest free basis and repayable on demand.