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Registration number: 08586259

Burrington Business Park Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Burrington Business Park Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 8

 

Burrington Business Park Limited

Company Information

Directors

Mr M D Edworthy

Mr P N Scantlebury

Registered office

Winslade House
Winslade Drive
Clyst St Mary
EX5 1FY

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Burrington Business Park Limited

(Registration number: 08586259)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

120,059

5,036,141

Cash at bank and in hand

 

66

3,385

 

120,125

5,039,526

Creditors: Amounts falling due within one year

5

(74,123)

(413,414)

Total assets less current liabilities

 

46,002

4,626,112

Creditors: Amounts falling due after more than one year

5

(15,303)

(895,193)

Net assets

 

30,699

3,730,919

Capital and reserves

 

Called up share capital

100

100

Retained earnings

30,599

3,730,819

Shareholders' funds

 

30,699

3,730,919

 

Burrington Business Park Limited

(Registration number: 08586259)
Balance Sheet as at 31 December 2023

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................

Mr M D Edworthy

Director

 

Burrington Business Park Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

3,730,819

3,730,919

Loss for the year

-

(220)

(220)

Dividends

-

(3,700,000)

(3,700,000)

At 31 December 2023

100

30,599

30,699


 

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 January 2022

100

2,178,996

1,574,934

3,754,030

Loss for the year

-

-

(23,111)

(23,111)

Other comprehensive income

-

(2,178,996)

2,178,996

-

Total comprehensive income

-

(2,178,996)

2,155,885

(23,111)

At 31 December 2022

100

-

3,730,819

3,730,919

 

Burrington Business Park Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winslade House
Winslade Drive
Clyst St Mary
EX5 1FY
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has incurred a loss during the year and whilst the company’s balance sheet shows overall net assets of £30,699 (2022 - £3,730,919), due to continued losses and the reduction in capital and reserves, the Directors have had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis as the Directors and Group companies which have provided financial support to the Company will continue to do so, to enable the company to realise value from its remaining assets. The Directors have reviewed the position for 12 months from the date that the accounts were approved.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Burrington Business Park Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

3 years straight line

Fixtures and fittings

4 years straight line

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. They are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Burrington Business Park Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Debtors

2023
£

2022
£

Trade debtors

-

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

120,059

2,993,893

Other debtors

-

2,042,248

120,059

5,036,141

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

9,733

9,648

Trade creditors

7,841

16,990

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

250,000

Taxation and social security

44,372

63,261

Accruals and deferred income

1,450

73,515

Other creditors

10,727

-

74,123

413,414

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

15,303

25,193

Other non-current financial liabilities

-

870,000

15,303

895,193

 

Burrington Business Park Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Parent and ultimate parent undertaking

The company's immediate parent is Burrington Estates (Commercial) Limited, incorporated in England and Wales.

 The ultimate parent is Burrington Estates Commercial Holdings Limited, incorporated in England and Wales.

  These financial statements are available upon request from Companies House.