The Burton Enterprises Limited 09911724 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of retail sales within the shop and craft gallery at The Burton. Digita Accounts Production Advanced 6.30.9574.0 true true 09911724 2023-04-01 2024-03-31 09911724 2024-03-31 09911724 core:CurrentFinancialInstruments 2024-03-31 09911724 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09911724 bus:SmallEntities 2023-04-01 2024-03-31 09911724 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09911724 bus:FilletedAccounts 2023-04-01 2024-03-31 09911724 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09911724 bus:RegisteredOffice 2023-04-01 2024-03-31 09911724 bus:Director6 2023-04-01 2024-03-31 09911724 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09911724 countries:EnglandWales 2023-04-01 2024-03-31 09911724 2022-04-01 2023-03-31 09911724 2023-03-31 09911724 core:CurrentFinancialInstruments 2023-03-31 09911724 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09911724

The Burton Enterprises Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Burton Enterprises Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

The Burton Enterprises Limited

(Registration number: 09911724)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

26,645

35,715

Debtors

5

1,610

-

 

28,255

35,715

Creditors: Amounts falling due within one year

6

(28,155)

(35,615)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

100

100

Shareholders' funds

 

100

100

For the financial 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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 


I Robson
Director

 

The Burton Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
Burton Art Gallery And Museum
Kingsley Road
Bideford
Devon
EX39 2QQ

Principal activity

The principal activity of the company is that of retail sales within the shop and craft gallery at The Burton.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

 

The Burton Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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 a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Stocks

2024
£

2023
£

Finished goods and goods for resale

26,645

35,715

5

Debtors

2024
£

2023
£

Other debtors

1,610

-

1,610

-

 

The Burton Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

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

7

26,805

34,325

Accruals and deferred income

 

1,350

1,290

 

28,155

35,615

7

Related party transactions

As at 31 March 2024 the company was owing £26,805 (2023 - £34,325 ) to its parent company. During the year, costs of £32,847 (2023 - £29,167) were charged to the subsidiary company from its parent company. The subsidiary company gifts any surplus made in its trading activities each year to its parent.