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REGISTERED NUMBER: 04144522 (England and Wales)










Burner Heating Spares Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Burner Heating Spares Limited (Registered number: 04144522)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Burner Heating Spares Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr Richard Paul Goddard





SECRETARY: Mrs Kelly Goddard





REGISTERED OFFICE: 200 Higher Road
Urmston
Manchester
M41 9BH





REGISTERED NUMBER: 04144522 (England and Wales)






Burner Heating Spares Limited (Registered number: 04144522)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 137,934 121,149

CURRENT ASSETS
Stocks 6 516,713 500,000
Debtors 7 817,028 1,014,560
Cash at bank 301,792 440,963
1,635,533 1,955,523
CREDITORS
Amounts falling due within one year 8 (607,000 ) (843,142 )
NET CURRENT ASSETS 1,028,533 1,112,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,166,467

1,233,530

PROVISIONS FOR LIABILITIES (34,484 ) (23,018 )
NET ASSETS 1,131,983 1,210,512

CAPITAL AND RESERVES
Called up share capital 9 101 101
Retained earnings 1,131,882 1,210,411
SHAREHOLDERS' FUNDS 1,131,983 1,210,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Burner Heating Spares Limited (Registered number: 04144522)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr Richard Paul Goddard - Director


Burner Heating Spares Limited (Registered number: 04144522)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
200 Higher Road
Urmston
Manchester
M41 9BH

The principal place of business is:
200 Higher Road
Urmston
Manchester
M41 9BH

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.


Burner Heating Spares Limited (Registered number: 04144522)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Fixtures and fittings 15% reducing balance
Motor vehicles 25% reducing balance
Computers 40% reducing balance

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Burner Heating Spares Limited (Registered number: 04144522)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Land and and Motor Office
buildings fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 33,428 89,243 68,217 20,967 211,855
Additions - - 40,270 1,800 42,070
At 31 January 2024 33,428 89,243 108,487 22,767 253,925
DEPRECIATION
At 1 February 2023 - 61,001 11,134 18,571 90,706
Charge for year - 4,236 19,843 1,206 25,285
At 31 January 2024 - 65,237 30,977 19,777 115,991
NET BOOK VALUE
At 31 January 2024 33,428 24,006 77,510 2,990 137,934
At 31 January 2023 33,428 28,242 57,083 2,396 121,149

Included within the net book value of land and buildings above is £33,428 (2023 - £33,428) in respect of freehold land and buildings.

6. STOCKS
2024 2023
£    £   
Other inventories 516,713 500,000

Burner Heating Spares Limited (Registered number: 04144522)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 806,876 1,010,550
Other debtors 10,152 4,010
817,028 1,014,560

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 417,666 666,961
Taxation and social security 118,977 149,350
Other creditors 70,357 26,831
607,000 843,142

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary share 1 100 100
1 B Ordinary share 1 1 1
101 101

10. RELATED PARTY TRANSACTIONS

The company was under the control of Mr R P Goddard throughout the current and previous year.
Mr R P Goddard is the director and major shareholder.

Dividends paid to the director
2024(£) 2023(£)
Mr Richard Goddard 156,000 110,400