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Registered number: 03090880
R.J. Burgess Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
C W Dix Limited
Accountants & Business Advisors
4b Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03090880
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,600 14,400
Tangible Assets 5 277,592 265,349
290,192 279,749
CURRENT ASSETS
Debtors 6 89,682 91,327
Cash at bank and in hand 176,620 119,702
266,302 211,029
Creditors: Amounts Falling Due Within One Year 7 (137,999 ) (141,134 )
NET CURRENT ASSETS (LIABILITIES) 128,303 69,895
TOTAL ASSETS LESS CURRENT LIABILITIES 418,495 349,644
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,588 ) (9,668 )
NET ASSETS 397,907 339,976
CAPITAL AND RESERVES
Called up share capital 8 13,475 13,475
Capital redemption reserve 17,325 17,325
Profit and Loss Account 367,107 309,176
SHAREHOLDERS' FUNDS 397,907 339,976
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Robert Burgess
Director
28/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
R.J. Burgess Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03090880 . The registered office is 18 Market Place, Normanton, West Yorkshire, WF6 2AU.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to over its estimated economic life of 10 years.
2.4. 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:
Leasehold 10% per annum on cost
Plant & Machinery 20% per annum reducing balance
Motor Vehicles 15% to 25% per annum reducing balance
Fixtures & Fittings 15% per annum reducing balance
Computer Equipment 20% per annum reducing balance
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 6 6
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 18,000
As at 31 January 2024 18,000
Amortisation
As at 1 February 2023 3,600
Provided during the period 1,800
As at 31 January 2024 5,400
Net Book Value
As at 31 January 2024 12,600
As at 1 February 2023 14,400
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2023 34,166 56,800 248,486 251,345
Additions - 20,275 19,696 5,856
As at 31 January 2024 34,166 77,075 268,182 257,201
Depreciation
As at 1 February 2023 34,165 45,202 88,264 159,007
Provided during the period - - 26,972 6,374
As at 31 January 2024 34,165 45,202 115,236 165,381
Net Book Value
As at 31 January 2024 1 31,873 152,946 91,820
As at 1 February 2023 1 11,598 160,222 92,338
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 February 2023 3,407 594,204
Additions - 45,827
As at 31 January 2024 3,407 640,031
Depreciation
As at 1 February 2023 2,217 328,855
Provided during the period 238 33,584
As at 31 January 2024 2,455 362,439
Net Book Value
As at 31 January 2024 952 277,592
As at 1 February 2023 1,190 265,349
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,421 46,464
Other debtors 83,261 44,863
89,682 91,327
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 42,722 56,019
Bank loans and overdrafts - 28,076
Corporation tax 5,266 5
Other taxes and social security 13,275 5,815
Accruals and deferred income 76,736 51,219
137,999 141,134
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 13,475 13,475
Page 5