IRIS Accounts Production v24.2.0.383 05070421 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh050704212022-11-30050704212023-11-30050704212022-12-012023-11-30050704212021-11-30050704212021-12-012022-11-30050704212022-11-3005070421ns15:EnglandWales2022-12-012023-11-3005070421ns14:PoundSterling2022-12-012023-11-3005070421ns10:Director12022-12-012023-11-3005070421ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3005070421ns10:SmallEntities2022-12-012023-11-3005070421ns10:AuditExemptWithAccountantsReport2022-12-012023-11-3005070421ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3005070421ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3005070421ns10:FullAccounts2022-12-012023-11-300507042112022-12-012023-11-3005070421ns10:Director22022-12-012023-11-3005070421ns10:Director32022-12-012023-11-3005070421ns10:Director42022-12-012023-11-3005070421ns10:CompanySecretary12022-12-012023-11-3005070421ns10:RegisteredOffice2022-12-012023-11-3005070421ns5:CurrentFinancialInstruments2023-11-3005070421ns5:CurrentFinancialInstruments2022-11-3005070421ns5:Non-currentFinancialInstruments2023-11-3005070421ns5:Non-currentFinancialInstruments2022-11-3005070421ns5:ShareCapital2023-11-3005070421ns5:ShareCapital2022-11-3005070421ns5:RetainedEarningsAccumulatedLosses2023-11-3005070421ns5:RetainedEarningsAccumulatedLosses2022-11-3005070421ns5:ShareCapital2021-11-3005070421ns5:RetainedEarningsAccumulatedLosses2021-11-3005070421ns5:RetainedEarningsAccumulatedLosses2021-12-012022-11-3005070421ns5:RetainedEarningsAccumulatedLosses2022-12-012023-11-3005070421ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3005070421ns5:ComputerSoftware2022-12-012023-11-3005070421ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-012023-11-3005070421ns5:OwnedAssets2022-12-012023-11-3005070421ns5:OwnedAssets2021-12-012022-11-3005070421ns5:ComputerSoftware2021-12-012022-11-3005070421ns5:ComputerSoftware2022-11-3005070421ns5:ComputerSoftware2023-11-3005070421ns5:ComputerSoftware2022-11-3005070421ns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-3005070421ns5:FurnitureFittings2022-11-3005070421ns5:FurnitureFittings2022-12-012023-11-3005070421ns5:ShortLeaseholdAssetsns5:LandBuildings2023-11-3005070421ns5:FurnitureFittings2023-11-3005070421ns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-3005070421ns5:FurnitureFittings2022-11-3005070421ns5:CostValuation2022-11-3005070421ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3005070421ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3005070421ns5:CurrentFinancialInstruments2022-12-012023-11-30
REGISTERED NUMBER: 05070421 (England and Wales)
























REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

BURNS SHEEHAN LIMITED

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Income Statement 4

Other Comprehensive Income 5

Balance Sheet 6 to 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9 to 11


BURNS SHEEHAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S M Burns
J A Sheehan
Ms S L Mather
N J McKittrick





SECRETARY: S M Burns





REGISTERED OFFICE: 55 King William Street
London
EC4R 9AD





REGISTERED NUMBER: 05070421 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 NOVEMBER 2023


The directors present their report with the financial statements of the company for the year ended 30 November 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of technology recruitment.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

S M Burns
J A Sheehan
Ms S L Mather
N J McKittrick

OTHER MATTERS
The directors are pleased to report on the year ended 30th November 2023.

It has been a challenging year's trading for the company as we have seen a fall in turnover for the first time in many years. The UK economic picture for 2023 with high interest rates and exacting trading conditions with political uncertainty has given us a difficult time this year. However, we still achieved a trading profit and we expect 2024 and onwards to improve our trading position. We have a decent level of reserves and cash flow remains strong.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S M Burns - Director


22 August 2024

BURNS SHEEHAN LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
BURNS SHEEHAN LIMITED



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of the company, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of the company. You consider that the company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR


Date: .............................................

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

INCOME STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
Notes £    £   

TURNOVER 12,177,945 15,045,394

Cost of sales 7,719,782 9,710,592
GROSS PROFIT 4,458,163 5,334,802

Administrative expenses 4,285,449 4,343,289
172,714 991,513

Interest receivable and similar income 6,965 958
179,679 992,471

Interest payable and similar expenses 17,637 10,042
PROFIT BEFORE TAXATION 4 162,042 982,429

Tax on profit 70,380 201,612
PROFIT FOR THE FINANCIAL YEAR 91,662 780,817

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 91,662 780,817


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

91,662

780,817

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 21,597 34,450
Tangible assets 6 98,304 117,466
Investments 7 150,000 150,000
269,901 301,916

CURRENT ASSETS
Debtors 8 1,914,179 2,377,562
Cash at bank 563,802 1,212,164
2,477,981 3,589,726
CREDITORS
Amounts falling due within one year 9 2,108,164 2,548,896
NET CURRENT ASSETS 369,817 1,040,830
TOTAL ASSETS LESS CURRENT LIABILITIES 639,718 1,342,746

CREDITORS
Amounts falling due after more than one
year

10

(150,000

)

(250,000

)

PROVISIONS FOR LIABILITIES (24,572 ) (20,262 )
NET ASSETS 465,146 1,072,484

CAPITAL AND RESERVES
Called up share capital 75,699 75,699
Retained earnings 389,447 996,785
465,146 1,072,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

BALANCE SHEET - continued
30 NOVEMBER 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





S M Burns - Director


BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 75,699 1,142,968 1,218,667

Changes in equity
Dividends - (927,000 ) (927,000 )
Total comprehensive income - 780,817 780,817
Balance at 30 November 2022 75,699 996,785 1,072,484

Changes in equity
Dividends - (699,000 ) (699,000 )
Total comprehensive income - 91,662 91,662
Balance at 30 November 2023 75,699 389,447 465,146

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Burns Sheehan 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Software and website development is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over remaining period of the lease

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.

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.

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 46 ) .

4. PROFIT BEFORE TAXATION

The profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 27,076 34,786
Software and website development amortisation 12,853 12,194

5. INTANGIBLE FIXED ASSETS
Software
and
website
development
£   
COST
At 1 December 2022
and 30 November 2023 51,410
AMORTISATION
At 1 December 2022 16,960
Amortisation for year 12,853
At 30 November 2023 29,813
NET BOOK VALUE
At 30 November 2023 21,597
At 30 November 2022 34,450

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Short and
leasehold equipment Totals
£    £    £   
COST
At 1 December 2022 36,820 402,960 439,780
Additions - 7,914 7,914
At 30 November 2023 36,820 410,874 447,694
DEPRECIATION
At 1 December 2022 19,770 302,544 322,314
Charge for year 3,682 23,394 27,076
At 30 November 2023 23,452 325,938 349,390
NET BOOK VALUE
At 30 November 2023 13,368 84,936 98,304
At 30 November 2022 17,050 100,416 117,466

BURNS SHEEHAN LIMITED (REGISTERED NUMBER: 05070421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 150,000
NET BOOK VALUE
At 30 November 2023 150,000
At 30 November 2022 150,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,121,124 1,190,427
Other debtors 793,055 1,187,135
1,914,179 2,377,562

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 291,403 310,770
Taxation and social security 276,041 561,018
Other creditors 1,440,720 1,577,108
2,108,164 2,548,896

Included in other creditors is £883,332 (2022 - £668,458) due to Lloyds TSB Commercial Finance in respect of debt factoring. Lloyds TSB Commercial Finance and Lloyds TSB Bank PLC both hold fixed and floating charges over the assets of the company in respect of debt factoring and bank borrowings respectively.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 150,000 250,000