Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10630489 Mr Ian Burnell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10630489 2023-03-31 10630489 2024-03-31 10630489 2023-04-01 2024-03-31 10630489 frs-core:CurrentFinancialInstruments 2024-03-31 10630489 frs-core:MotorVehicles 2024-03-31 10630489 frs-core:MotorVehicles 2023-04-01 2024-03-31 10630489 frs-core:MotorVehicles 2023-03-31 10630489 frs-core:PlantMachinery 2024-03-31 10630489 frs-core:PlantMachinery 2023-04-01 2024-03-31 10630489 frs-core:PlantMachinery 2023-03-31 10630489 frs-core:ShareCapital 2024-03-31 10630489 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10630489 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10630489 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10630489 frs-bus:SmallEntities 2023-04-01 2024-03-31 10630489 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10630489 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10630489 frs-bus:Director1 2023-04-01 2024-03-31 10630489 1 2023-04-01 2024-03-31 10630489 frs-countries:EnglandWales 2023-04-01 2024-03-31 10630489 2022-03-31 10630489 2023-03-31 10630489 2022-04-01 2023-03-31 10630489 frs-core:CurrentFinancialInstruments 2023-03-31 10630489 frs-core:ShareCapital 2023-03-31 10630489 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 10630489 1 2022-04-01 2023-03-31
Registered number: 10630489
Burnell Mechanical Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10630489
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,891 13,829
20,891 13,829
CURRENT ASSETS
Stocks 5 39,822 26,472
Debtors 6 14,352 6,629
Cash at bank and in hand 120,832 129,374
175,006 162,475
Creditors: Amounts Falling Due Within One Year 7 (35,240 ) (45,030 )
NET CURRENT ASSETS (LIABILITIES) 139,766 117,445
TOTAL ASSETS LESS CURRENT LIABILITIES 160,657 131,274
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,673 ) (2,628 )
NET ASSETS 156,984 128,646
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 156,983 128,645
SHAREHOLDERS' FUNDS 156,984 128,646
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Burnell
Director
14 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Burnell Mechanical Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10630489 . The registered office is 138 High Street, Crediton, EX17 3DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 20% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Impairment
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.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
All staff 2 1
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 23,320 8,500 31,820
Additions 5,090 8,165 13,255
As at 31 March 2024 28,410 16,665 45,075
Depreciation
As at 1 April 2023 12,891 5,100 17,991
Provided during the period 3,880 2,313 6,193
As at 31 March 2024 16,771 7,413 24,184
Net Book Value
As at 31 March 2024 11,639 9,252 20,891
As at 1 April 2023 10,429 3,400 13,829
5. Stocks
2024 2023
£ £
Stock 39,822 26,472
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,150 5,734
Prepayments and accrued income 1,088 895
VAT 114 -
14,352 6,629
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,170 5,389
Corporation tax 5,993 6,481
Other taxes and social security 209 -
VAT - 958
Net wages 817 -
Other creditors 74 -
Accruals and deferred income 1,354 1,263
Director's loan account 23,623 30,939
35,240 45,030
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
At the year end, 31 March 2024, the company owed the director £23,623 (2023: £30,939) in respect of a loan held with the company. This amount is interest free and repayable on demand.
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