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Registration number: 09670153

Burgess Williams Financial Services Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Burgess Williams Financial Services Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Burgess Williams Financial Services Ltd

Company Information




 

Directors

Philip Williams

Jane Lisbeth Williams



 

Registered office

White Cottage Stonehills
Fawley
Southampton
Hampshire
SO45 1DU

 

Accountants

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Burgess Williams Financial Services Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Burgess Williams Financial Services Ltd for the year ended 30 June 2024 as set out on pages 3 to 9 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 Burgess Williams Financial Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Burgess Williams Financial Services Ltd and state those matters that we have agreed to state to the Board of Directors of Burgess Williams Financial Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burgess Williams Financial Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Burgess Williams Financial Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Burgess Williams Financial Services Ltd. You consider that Burgess Williams Financial Services Ltd 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 accounts of Burgess Williams Financial Services Ltd. 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 accounts.



Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ



 

3 September 2024

 

Burgess Williams Financial Services Ltd

(Registration number: 09670153)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

59

 

79

Other financial assets

5

 

20,639

 

35,660

   

20,698

 

35,739

Current assets

   

 

Debtors

6

122

 

122

 

Investments

7

20,000

 

-

 

Cash at bank and in hand

 

4,457

 

4,236

 

 

24,579

 

4,358

 

Creditors: Amounts falling due within one year

8

(9,249)

 

(4,741)

 

Net current assets/(liabilities)

   

15,330

 

(383)

Total assets less current liabilities

   

36,028

 

35,356

Creditors: Amounts falling due after more than one year

8

 

(9,704)

 

(11,346)

Net assets

   

26,324

 

24,010

Capital and reserves

   

 

Called up share capital

9

2

 

2

 

Retained earnings

26,322

 

24,008

 

Shareholders' funds

   

26,324

 

24,010

 

Burgess Williams Financial Services Ltd

(Registration number: 09670153)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Philip Williams
Director

 

Burgess Williams Financial Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
White Cottage Stonehills
Fawley
Southampton
Hampshire
SO45 1DU

2

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.

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).

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

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

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.

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.

 

Burgess Williams Financial Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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

25% reducing balance

Investments

Investments in shares are stated in the balance sheet at market value with any changes in fair value going through the profit and loss account.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are changes to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Burgess Williams Financial Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

773

773

At 30 June 2024

773

773

Depreciation

At 1 July 2023

694

694

Charge for the year

20

20

At 30 June 2024

714

714

Carrying amount

At 30 June 2024

59

59

At 30 June 2023

79

79

5

Investment in shares

Investment at fair value through profit and loss
£

Total
£

Investment in shares

Cost or valuation

At 1 July 2023

35,660

35,660

Fair value adjustments

13,178

13,178

Disposals

(28,199)

(28,199)

At 30 June 2024

20,639

20,639

Carrying amount

At 30 June 2024

20,639

20,639

6

Debtors

Current

2024
£

2023
£

Prepayments

122

122

 

122

122

 

Burgess Williams Financial Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Current asset investments

2024
£

2023
£

Other investments

20,000

-

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

1,832

1,961

Trade creditors

 

421

6

Taxation and social security

 

5,375

1,849

Accruals and deferred income

 

840

834

Other creditors

 

781

91

 

9,249

4,741

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

9,704

11,346

Creditors include bank loans repayable by instalments of £1,900 (2023 - £3,362) due after more than five years.

 

Burgess Williams Financial Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

9,704

11,346

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,832

1,961