Silverfin false false 31/12/2023 09/12/2022 31/12/2023 Dr E M Burns 09/12/2022 20 August 2024 no description of principal activity 14531623 2023-12-31 14531623 bus:Director1 2023-12-31 14531623 core:CurrentFinancialInstruments 2023-12-31 14531623 core:ShareCapital 2023-12-31 14531623 core:RetainedEarningsAccumulatedLosses 2023-12-31 14531623 core:ComputerEquipment 2022-12-08 14531623 2022-12-08 14531623 core:ComputerEquipment 2023-12-31 14531623 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 14531623 2022-12-09 2023-12-31 14531623 bus:FilletedAccounts 2022-12-09 2023-12-31 14531623 bus:SmallEntities 2022-12-09 2023-12-31 14531623 bus:AuditExemptWithAccountantsReport 2022-12-09 2023-12-31 14531623 bus:PrivateLimitedCompanyLtd 2022-12-09 2023-12-31 14531623 bus:Director1 2022-12-09 2023-12-31 14531623 core:ComputerEquipment 2022-12-09 2023-12-31 14531623 core:CurrentFinancialInstruments 2022-12-09 2023-12-31 iso4217:GBP xbrli:pure

Company No: 14531623 (England and Wales)

DREDBURNS LIMITED

Unaudited Financial Statements
For the financial period from 09 December 2022 to 31 December 2023
Pages for filing with the registrar

DREDBURNS LIMITED

Unaudited Financial Statements

For the financial period from 09 December 2022 to 31 December 2023

Contents

DREDBURNS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
DREDBURNS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023
£
Fixed assets
Tangible assets 3 1,838
1,838
Current assets
Debtors 4 4,138
Cash at bank and in hand 13,228
17,366
Creditors: amounts falling due within one year 5 ( 26,731)
Net current liabilities (9,365)
Total assets less current liabilities (7,527)
Provision for liabilities 6, 7 ( 349)
Net liabilities ( 7,876)
Capital and reserves
Called-up share capital 1
Profit and loss account ( 7,877 )
Total shareholder's deficit ( 7,876)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of DrEdBurns Limited (registered number: 14531623) were approved and authorised for issue by the Director. They were signed on its behalf by:

Dr E M Burns
Director

20 August 2024

DREDBURNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2022 to 31 December 2023
DREDBURNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 December 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

DrEdBurns Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Priory Hospital Roehampton, Priory Lane, London, SW15 5JJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £7,876. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company's first accounting period is from incorporation on 09 December 2022 to 31 December 2023.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
09.12.2022 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 09 December 2022 0 0
Additions 2,099 2,099
At 31 December 2023 2,099 2,099
Accumulated depreciation
At 09 December 2022 0 0
Charge for the financial period 261 261
At 31 December 2023 261 261
Net book value
At 31 December 2023 1,838 1,838

4. Debtors

31.12.2023
£
Trade debtors 3,156
Prepayments 982
4,138

5. Creditors: amounts falling due within one year

31.12.2023
£
Trade creditors 1,010
Amounts owed to director 35
Accruals 4,940
Corporation tax 7,642
Other taxation and social security 13,104
26,731

There are no amounts included above in respect of which any security has been given by the company.

6. Provision for liabilities

31.12.2023
£
Deferred tax 349

7. Deferred tax

31.12.2023
£
At the beginning of financial period 0
Charged to the Income Statement ( 349)
At the end of financial period ( 349)

The deferred taxation balance is made up as follows:

31.12.2023
£
Accelerated capital allowances ( 349)