2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 749 449 113 562 187 300 xbrli:pure xbrli:shares iso4217:GBP 04668579 2023-01-01 2023-12-31 04668579 2023-12-31 04668579 2022-12-31 04668579 2022-01-01 2022-12-31 04668579 2022-12-31 04668579 2021-12-31 04668579 core:FurnitureFittings 2023-01-01 2023-12-31 04668579 bus:Director1 2023-01-01 2023-12-31 04668579 core:FurnitureFittings 2022-12-31 04668579 core:FurnitureFittings 2023-12-31 04668579 core:WithinOneYear 2023-12-31 04668579 core:WithinOneYear 2022-12-31 04668579 core:ShareCapital 2023-12-31 04668579 core:ShareCapital 2022-12-31 04668579 core:RetainedEarningsAccumulatedLosses 2023-12-31 04668579 core:RetainedEarningsAccumulatedLosses 2022-12-31 04668579 core:FurnitureFittings 2022-12-31 04668579 bus:SmallEntities 2023-01-01 2023-12-31 04668579 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04668579 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04668579 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04668579 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 04668579
BURBAGE REALTY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
BURBAGE REALTY LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
187
300
Current assets
Debtors
6
911,470
123,940
Cash at bank and in hand
3,026,043
3,350,577
------------
------------
3,937,513
3,474,517
Creditors: amounts falling due within one year
7
2,675,407
2,844
------------
------------
Net current assets
1,262,106
3,471,673
------------
------------
Total assets less current liabilities
1,262,293
3,471,973
------------
------------
Net assets
1,262,293
3,471,973
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
1,261,293
3,470,973
------------
------------
Shareholders funds
1,262,293
3,471,973
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 September 2024 , and are signed on behalf of the board by:
Mr J E Burbage
Director
Company registration number: 04668579
BURBAGE REALTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Holmfield Way, Abington Park, Northampton, NN3 3BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises commissions and fees receivable from agency and professional activities, exclusive of value added tax and amounts due to third parties. Agency commissions are recognised either on the unconditional completion of a contract or when a fee is contractually due. Professional fees are recognised on completion of the assignment or by reference to the stage of completion for on-going services.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
749
749
----
----
Depreciation
At 1 January 2023
449
449
Charge for the year
113
113
----
----
At 31 December 2023
562
562
----
----
Carrying amount
At 31 December 2023
187
187
----
----
At 31 December 2022
300
300
----
----
6. Debtors
2023
2022
£
£
Trade debtors
911,400
42,388
Other debtors
70
81,552
---------
---------
911,470
123,940
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,538,174
Social security and other taxes
129,667
1,237
Other creditors
7,566
1,607
------------
-------
2,675,407
2,844
------------
-------
8. Directors' advances, credits and guarantees
There were no transactions undertaken during the period that require reporting or disclosure.
9. Controlling party
The company is a wholly owned subsidiary of Burbage Capital Limited. Burbage Capital Limited is registered in England and Wales under number 06923621 and the registered office is situated at 18 Holmfield Way, Abington Park, Northampton, NN3 3BJ.