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REGISTERED NUMBER: 10640127 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Burford Young Ltd

Burford Young Ltd (Registered number: 10640127)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Burford Young Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N L Young
R J Burford



REGISTERED OFFICE: Unit 10 Capitol Park
Pearce Way
Gloucester
GL2 5YD



REGISTERED NUMBER: 10640127 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
19 Eastgate Street
Gloucester
Gloucestershire
GL1 1NU

Burford Young Ltd (Registered number: 10640127)

Statement of Financial Position
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,680 51,647

CURRENT ASSETS
Debtors 5 343,792 425,630
Cash at bank 166,974 84,252
510,766 509,882
CREDITORS
Amounts falling due within one year 6 175,021 116,837
NET CURRENT ASSETS 335,745 393,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,425

444,692

CREDITORS
Amounts falling due after more than one
year

7

(30,337

)

(42,666

)

PROVISIONS FOR LIABILITIES (14,920 ) (12,912 )
NET ASSETS 350,168 389,114

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 350,166 389,112
SHAREHOLDERS' FUNDS 350,168 389,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Burford Young Ltd (Registered number: 10640127)

Statement of Financial Position - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





N L Young - Director


Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Burford Young Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 March 2023 3,257 105,212 2,964 111,433
Additions 1,350 24,300 6,016 31,666
Disposals - (18,688 ) - (18,688 )
At 29 February 2024 4,607 110,824 8,980 124,411
Depreciation
At 1 March 2023 2,291 54,531 2,964 59,786
Charge for year 579 17,809 1,504 19,892
Eliminated on disposal - (14,947 ) - (14,947 )
At 29 February 2024 2,870 57,393 4,468 64,731
Net book value
At 29 February 2024 1,737 53,431 4,512 59,680
At 28 February 2023 966 50,681 - 51,647

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 March 2023 44,650
Additions 24,300
At 29 February 2024 68,950
Depreciation
At 1 March 2023 14,022
Charge for year 13,732
At 29 February 2024 27,754
Net book value
At 29 February 2024 41,196
At 28 February 2023 30,628

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 123,983 254,086
Other debtors 219,809 171,544
343,792 425,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 19,298 19,560
Hire purchase contracts (see note 8) 14,422 11,047
Trade creditors 12,438 20,107
Taxation and social security 89,541 37,193
Other creditors 39,322 28,930
175,021 116,837

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts (see note 8) 17,837 20,166
30,337 42,666

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29/2/24 28/2/23
£    £   
Net obligations repayable:
Within one year 14,422 11,047
Between one and five years 17,837 20,166
32,259 31,213

Non-cancellable operating leases
29/2/24 28/2/23
£    £   
Within one year 46,337 24,010
Between one and five years 85,005 48,842
131,342 72,852

Burford Young Ltd (Registered number: 10640127)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
N L Young
Balance outstanding at start of year 11,207 11,569
Amounts advanced 15,880 11,207
Amounts repaid (11,207 ) (11,569 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,880 11,207

The unsecured loan to the director has no fixed repayment terms. Interest of £622 (2023 - £23) has been charged during the year at the HMRC official rate of interest. The above loan is repaid within 9 months of the year end.

10. RELATED PARTY DISCLOSURES

R J Burford
Director

At 28 February 2024, the company owed the director R J Burford £10,423 (2023 - £12,903).
The unsecured loan from the director is interest free and has no fixed repayment terms.

Burford Young Properties Ltd
A company controlled by the directors N L Young and R J Burford

The company has loaned money to Burford Young Properties Ltd. At 28 February 2024, the loan outstanding was £190,557 (2023 - £145,204). The loan is interest free with no fixed repayment terms.