25 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 210,131 210,130 1 1 xbrli:pure xbrli:shares iso4217:GBP 02630084 2023-01-01 2023-12-31 02630084 2023-12-31 02630084 2022-12-31 02630084 2022-01-01 2022-12-31 02630084 2022-12-31 02630084 2021-12-31 02630084 core:NetGoodwill 2023-01-01 2023-12-31 02630084 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 02630084 core:PlantMachinery 2023-01-01 2023-12-31 02630084 core:MotorVehicles 2023-01-01 2023-12-31 02630084 bus:Director1 2023-01-01 2023-12-31 02630084 bus:Director5 2023-01-01 2023-12-31 02630084 core:NetGoodwill 2023-12-31 02630084 core:PlantMachinery 2022-12-31 02630084 core:MotorVehicles 2022-12-31 02630084 core:LandBuildings 2023-12-31 02630084 core:PlantMachinery 2023-12-31 02630084 core:MotorVehicles 2023-12-31 02630084 core:LandBuildings 2023-01-01 2023-12-31 02630084 core:WithinOneYear 2023-12-31 02630084 core:WithinOneYear 2022-12-31 02630084 core:AfterOneYear 2023-12-31 02630084 core:AfterOneYear 2022-12-31 02630084 core:ShareCapital 2023-12-31 02630084 core:ShareCapital 2022-12-31 02630084 core:RetainedEarningsAccumulatedLosses 2023-12-31 02630084 core:RetainedEarningsAccumulatedLosses 2022-12-31 02630084 core:NetGoodwill 2022-12-31 02630084 core:BetweenOneFiveYears 2023-12-31 02630084 core:BetweenOneFiveYears 2022-12-31 02630084 core:PlantMachinery 2022-12-31 02630084 core:MotorVehicles 2022-12-31 02630084 bus:SmallEntities 2023-01-01 2023-12-31 02630084 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02630084 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02630084 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02630084 bus:FullAccounts 2023-01-01 2023-12-31 02630084 core:ComputerEquipment 2023-01-01 2023-12-31 02630084 core:ComputerEquipment 2022-12-31 02630084 core:ComputerEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 02630084
Burton & Smith Moving Limited
Filleted Unaudited Financial Statements
31 December 2023
Burton & Smith Moving Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1
1
Tangible assets
6
34,402
13,203
--------
--------
34,403
13,204
Current assets
Stocks
5,206
4,690
Debtors
7
762,236
1,068,744
Cash at bank and in hand
85,180
137,665
---------
------------
852,622
1,211,099
Creditors: amounts falling due within one year
8
493,067
508,646
---------
------------
Net current assets
359,555
702,453
---------
---------
Total assets less current liabilities
393,958
715,657
Creditors: amounts falling due after more than one year
9
389,034
446,285
---------
---------
Net assets
4,924
269,372
---------
---------
Burton & Smith Moving Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
890
890
Profit and loss account
4,034
268,482
-------
---------
Shareholders funds
4,924
269,372
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 August 2024 , and are signed on behalf of the board by:
Mr C Burton
Mr P J Burton
Director
Director
Company registration number: 02630084
Burton & Smith Moving Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 136 - 137 Beddington Cross, Beddington Farm Road, Croydon, Surrey, CR0 4XH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
10% straight line
Plant & Machinery
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2022: 25 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
210,131
---------
Amortisation
At 1 January 2023 and 31 December 2023
210,130
---------
Carrying amount
At 31 December 2023
1
---------
At 31 December 2022
1
---------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
122,417
228,962
35,645
387,024
Additions
25,134
25,134
--------
---------
---------
--------
---------
At 31 December 2023
25,134
122,417
228,962
35,645
412,158
--------
---------
---------
--------
---------
Depreciation
At 1 January 2023
122,371
216,953
34,497
373,821
Charge for the year
628
17
3,003
287
3,935
--------
---------
---------
--------
---------
At 31 December 2023
628
122,388
219,956
34,784
377,756
--------
---------
---------
--------
---------
Carrying amount
At 31 December 2023
24,506
29
9,006
861
34,402
--------
---------
---------
--------
---------
At 31 December 2022
46
12,009
1,148
13,203
--------
---------
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
153,444
225,477
Other debtors
608,792
843,267
---------
------------
762,236
1,068,744
---------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
93,432
89,689
Trade creditors
118,401
140,417
Corporation tax
21,225
Social security and other taxes
68,087
61,226
Other creditors
213,147
196,089
---------
---------
493,067
508,646
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
249,770
343,182
Other creditors
139,264
103,103
---------
---------
389,034
446,285
---------
---------
10. Operating leases
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
284,772
284,772
Later than 1 year and not later than 5 years
854,316
1,139,088
------------
------------
1,139,088
1,423,860
------------
------------
Lease renewal date 25th December 2022 for a term of 10 years with a tenant only break option on the expiry of the 5th year of the term.