Burford Beta Limited |
Registered number: |
04883229 |
Abridged Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
6,850,001 |
|
|
6,850,001 |
|
Current assets |
Debtors |
4 |
|
414,055 |
|
|
314,027 |
|
|
Net current assets |
|
|
|
414,055 |
|
|
314,027 |
|
Total assets less current liabilities |
|
|
|
7,264,056 |
|
|
7,164,028 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(13,767,149) |
|
|
(13,666,611) |
|
|
|
Net liabilities |
|
|
|
(6,503,093) |
|
|
(6,502,583) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(6,503,094) |
|
|
(6,502,584) |
|
Shareholders' funds |
|
|
|
(6,503,093) |
|
|
(6,502,583) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006. |
|
|
|
|
J Gleek |
Director |
Approved by the board on 3 September 2024 |
|
Burford Beta Limited |
Notes to the Abridged Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
The financial statements have been prepared on the going concern basis, notwithstanding the Company's net current liabilities, on the basis that the ultimate parent company, Burford Beta Holdings Limited, has undertaken to provide continued support for a period of at least twelve months from the date of approval of these financial statements. |
|
|
Related party exemption |
|
The company has taken advantage of the exemption in FRS 102 not to disclose related party transactions or balances with entities which form part of the group. |
|
|
Preparation of consolidated financial statements |
|
The financial statements contain information about Burford Beta Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Recognition of profits |
|
Purchases and sales of property stock, when applicable, are accounted for upon completion of contracts. |
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
Taxation comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets or 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 statement of financial position date. |
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
subsidiary |
Other |
undertakings |
investments |
Total |
£ |
£ |
£ |
|
Cost |
|
|
At 31 March 2024 |
6,850,001 |
|
- |
|
6,850,001 |
|
4 |
Debtors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Amounts owed by Group undertakings |
400,000 |
|
300,000 |
|
Other debtors |
14,055 |
|
14,027 |
|
|
|
|
|
|
|
414,055 |
|
314,027 |
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
- |
|
- |
|
Amounts owed to Group undertakings |
13,767,149 |
|
13,666,611 |
|
|
|
|
|
|
|
13,767,149 |
|
13,666,611 |
|
|
|
|
|
|
|
|
|
|
6 |
Retained earnings |
|
|
The retained earnings deficit comprises of distributable reserves. |
|
7 |
Immediate parent and ultimate parent undertakings |
|
|
The company's immediate parent undertaking is Burford Alpha Limited, a company incorporated in England and Wales. The company's ultimate parent undertaking is Burford Beta Holdings Limited, a company incorporated in England and Wales and whose registered office is Richmond House, Avonmouth Way, Avonmouth, Bristol BS11 8DE. |
|
8 |
Other information |
|
|
Burford Beta Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Richmond House |
|
Avonmouth Way |
|
Avonmouth |
|
Bristol |
|
BS11 8DE |