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REGISTERED NUMBER: 01752279 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BURNING ISSUES LIMITED

BURNING ISSUES LIMITED (REGISTERED NUMBER: 01752279)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BURNING ISSUES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Philip Kuhn
Tom Kuhn





REGISTERED OFFICE: 107 Bell Street
London
NW1 6TL





REGISTERED NUMBER: 01752279 (England and Wales)





ACCOUNTANTS: Butters Gates & Company
Chartered Accountants
107 Bell Street
London
NW1 6TL

BURNING ISSUES LIMITED (REGISTERED NUMBER: 01752279)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,700 1,629

CURRENT ASSETS
Stocks 125,436 125,436
Debtors 5 377,523 444,161
Investments 6 127,033 127,033
Cash at bank 1,153,314 1,007,804
1,783,306 1,704,434
CREDITORS
Amounts falling due within one year 7 15,456 40,092
NET CURRENT ASSETS 1,767,850 1,664,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,770,550

1,665,971

CAPITAL AND RESERVES
Called up share capital 198 198
Retained earnings 8 1,770,352 1,665,773
SHAREHOLDERS' FUNDS 1,770,550 1,665,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




Tom Kuhn - Director


BURNING ISSUES LIMITED (REGISTERED NUMBER: 01752279)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Burning Issues 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 - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Revenue recognition
The policy of the company is to recognise revenue regarding the sale of land and building stock on the basis as cash instalments are received.


BURNING ISSUES LIMITED (REGISTERED NUMBER: 01752279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 2,655 3,214 5,869
Additions - 1,970 1,970
At 31 December 2023 2,655 5,184 7,839
DEPRECIATION
At 1 January 2023 2,565 1,675 4,240
Charge for year 22 877 899
At 31 December 2023 2,587 2,552 5,139
NET BOOK VALUE
At 31 December 2023 68 2,632 2,700
At 31 December 2022 90 1,539 1,629

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 58,586 218,202
Directors' loan accounts 263,305 170,327
Tax 55,632 55,632
377,523 444,161

6. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Unlisted investments 127,033 127,033

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 5,489 31,092
Social security and other taxes 2,820 1,853
Other creditors 547 547
Accrued expenses 6,600 6,600
15,456 40,092

BURNING ISSUES LIMITED (REGISTERED NUMBER: 01752279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. RESERVES
Retained
earnings
£   

At 1 January 2023 1,665,773
Profit for the year 104,579
At 31 December 2023 1,770,352