Company registration number 11078648 (England and Wales)
BURAY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BURAY INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
G Singh
A Kaur
A Buray
Company number
11078648
Registered office
17 Woodbourne Road
Edgbaston
Birmingham
West Midlands
B15 3QJ
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
BURAY INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
BURAY INVESTMENTS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BURAY INVESTMENTS LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Buray Investments Limited for the year ended 30 November 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Buray Investments Limited, as a body, in accordance with the terms of our engagement letter dated 30 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Buray Investments Limited and state those matters that we have agreed to state to the board of directors of Buray Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buray Investments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Buray Investments Limited 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 loss of Buray Investments Limited. You consider that Buray Investments Limited 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 Buray Investments Limited. 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.
Jerroms GCN Limited
22 August 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
BURAY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,071,283
2,060,985
Current assets
Debtors
4
2,257
Cash at bank and in hand
4,020
1,551
4,020
3,808
Creditors: amounts falling due within one year
5
(1,829,010)
(1,814,731)
Net current liabilities
(1,824,990)
(1,810,923)
Total assets less current liabilities
246,293
250,062
Creditors: amounts falling due after more than one year
6
(26,310)
(28,800)
Net assets
219,983
221,262
Capital and reserves
Called up share capital
8
100
100
Revaluation reserve
9
345,697
345,697
Profit and loss reserves
(125,814)
(124,535)
Total equity
219,983
221,262
BURAY INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 3 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered 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 are signed on its behalf by:
A Buray
Director
Company Registration No. 11078648
BURAY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
1
Accounting policies
Company information
Buray Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Woodbourne Road, Edgbaston, Birmingham, West Midlands, B15 3QJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property
0%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
BURAY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Land and Buildings
£
Cost or valuation
At 1 December 2022
2,060,985
Additions
10,298
At 30 November 2023
2,071,283
Depreciation and impairment
At 1 December 2022 and 30 November 2023
Carrying amount
At 30 November 2023
2,071,283
At 30 November 2022
2,060,985
Land and Buildings
2023
2022
£
£
Original Cost
1,725,586
1,715,288
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
399
Prepayments and accrued income
1,858
2,257
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
7
1,287,874
1,198,591
Other creditors
540,086
615,090
Accruals and deferred income
1,050
1,050
1,829,010
1,814,731
BURAY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
7
26,310
28,800
7
Secured debts
2023
2022
£
£
Bank loans
1,314,184
1,227,391
Payable within one year
1,287,874
1,198,591
Payable after one year
26,310
28,800
The bank loans are secured by fixed charges, in favour of Shawbrook Bank Limited, dated 18 February 2019, 22 June 2022, 22 December 2022 and 13 March 2023, fixed charges in favour of Together Commercial Finance dated 7 April 2022 and 9 September 2022, and fixed charges in favour of Fleet Mortgages dated 30 August 2022 and 17 April 2023.
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
345,697
345,697