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REGISTERED NUMBER: 07541905 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BUCKWORTHS LIMITED

BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUCKWORTHS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M E Buckworth





SECRETARY:





REGISTERED OFFICE: 2nd Floor
1-3 Worship Street
London
EC2A 2AB





REGISTERED NUMBER: 07541905 (England and Wales)





ACCOUNTANTS: Adept Accounting
The Grange
Church Lane
Budbrooke
Warwick
CV35 8QL

BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,505 5,942

CURRENT ASSETS
Stocks 60,300 80,000
Debtors 5 123,546 171,377
Prepayments and accrued income 27,136 25,648
Cash in hand 31,173 154,921
242,155 431,946
CREDITORS
Amounts falling due within one year 6 190,393 237,874
NET CURRENT ASSETS 51,762 194,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,267

200,014

CREDITORS
Amounts falling due after more than one year 7 (13,341 ) (23,274 )

PROVISIONS FOR LIABILITIES (3,257 ) (1,486 )
NET ASSETS 47,669 175,254

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 47,668 175,253
SHAREHOLDER FUNDS 47,669 175,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2024 and were signed by:





M E Buckworth - Director


BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Buckworths Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings 25% on reducing balance

Computer equipment 33% on cost

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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 and 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 22,478 24,786 47,264
Additions 9,745 3,498 13,243
At 29 February 2024 32,223 28,284 60,507
DEPRECIATION
At 1 March 2023 18,956 22,366 41,322
Charge for year 3,453 3,227 6,680
At 29 February 2024 22,409 25,593 48,002
NET BOOK VALUE
At 29 February 2024 9,814 2,691 12,505
At 28 February 2023 3,522 2,420 5,942

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 95,087 142,918
Other debtors 28,459 28,459
123,546 171,377

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 137,055 183,289
Other creditors 53,338 54,585
190,393 237,874

BUCKWORTHS LIMITED (REGISTERED NUMBER: 07541905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 13,341 23,274

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 March 2023 175,253
Profit for the year 87,415
Dividends (215,000 )
At 29 February 2024 47,668

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The Director of the Company has a current account with the Company. Transactions n the Director's current account in this accounting period are summarised below.

At the beginning of the year the Company owed the Director £3,099
Amounts advanced to the Director totalled £214,712
Amounts paid into the Company by the Director totalled £215,360
Amounts payable to the Director that were not drawn out by the Director totalled £0

The maximum overdrawn balance on the current account during the year was £4,579

The balance on the loan account due to the Director at the Balance Sheet date was £3,747

No interest is paid to the Director on credit balances on the current account.

11. RELATED PARTY DISCLOSURES

The controlling party is M E Buckworth.

The ultimate controlling party is M E Buckworth.