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REGISTERED NUMBER: 05365647 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2024

for

Bourne Estate Agents Limited

Bourne Estate Agents Limited (Registered number: 05365647)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bourne Estate Agents Limited

Company Information
for the Year Ended 28 February 2024







DIRECTOR: S Mitchell





SECRETARY: Mrs K J Mitchell





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 05365647 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Bourne Estate Agents Limited (Registered number: 05365647)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 71,050 -
Tangible assets 6 38,715 51,788
Investments 7 76,327 76,327
186,092 128,115

CURRENT ASSETS
Debtors 8 1,045,170 1,048,308
Investments 9 59,017 59,017
Cash at bank 3,027,248 2,964,622
4,131,435 4,071,947
CREDITORS
Amounts falling due within one
year

10

3,536,188

3,112,617
NET CURRENT ASSETS 595,247 959,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

781,339

1,087,445

CREDITORS
Amounts falling due after more
than one year

11

(82,666

)

(131,557

)

PROVISIONS FOR LIABILITIES (7,356 ) (9,840 )
NET ASSETS 691,317 946,048

CAPITAL AND RESERVES
Called up share capital 14 1,500 1,500
Retained earnings 689,817 944,548
SHAREHOLDERS' FUNDS 691,317 946,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

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 Comprehensive Income has not been delivered.

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



S Mitchell - Director


Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Bourne Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2011, 2014, 2017 and 2023 are being amortised evenly over their estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 87 (2023 - 89 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 864,999
Additions 87,000
At 28 February 2024 951,999
AMORTISATION
At 1 March 2023 864,999
Charge for year 15,950
At 28 February 2024 880,949
NET BOOK VALUE
At 28 February 2024 71,050
At 28 February 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 42,744 270,683 313,427
Additions - 2,805 2,805
At 28 February 2024 42,744 273,488 316,232
DEPRECIATION
At 1 March 2023 42,744 218,895 261,639
Charge for year - 15,878 15,878
At 28 February 2024 42,744 234,773 277,517
NET BOOK VALUE
At 28 February 2024 - 38,715 38,715
At 28 February 2023 - 51,788 51,788

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 28 February 2024 76,327
NET BOOK VALUE
At 28 February 2024 76,327
At 28 February 2023 76,327

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 160,553 112,480
Other debtors 884,617 935,828
1,045,170 1,048,308

9. CURRENT ASSET INVESTMENTS
28.2.24 28.2.23
£    £   
Unlisted investments 59,017 59,017

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 93,202 84,533
Trade creditors 130,614 115,179
Taxation and social security 316,215 295,187
Other creditors 2,996,157 2,617,718
3,536,188 3,112,617

Included in other creditors are Client balances of £2,885,676 (2023: £2,505,155) representing monies held in Client bank accounts.

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans 82,666 131,557

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.24 28.2.23
£    £   
Within one year 53,181 52,371
Between one and five years 65,843 92,077
119,024 144,448

13. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Bank loans 175,868 216,090

The bank loan is secured by way of a fixed and floating charge over the assets of the company.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
150,000 Ordinary £0.01 1,500 1,500

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Bourne Estate Agents Limited (Registered number: 05365647)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

16. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr S Mitchell and Mrs K J Mitchell by virtue of their 100% interest in the ordinary share capital of the company.