REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
CHARLES BURNAND LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
CHARLES BURNAND LTD |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
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 |
CHARLES BURNAND LTD |
Company Information |
for the year ended 29 FEBRUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
Statement of Financial Position |
29 FEBRUARY 2024 |
29/2/24 | 28/2/23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
Statement of Financial Position - continued |
29 FEBRUARY 2024 |
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 |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
Notes to the Financial Statements |
for the year ended 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Charles Burnand Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover is recognised when the goods and services are provided to the customer. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
No depreciation or amortisation is provided in the year of disposal. |
Stocks |
Stock and work-in progress are valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
At the balance sheet date, the company's liabilities exceeded its assets. During the year the company received funding from lenders including family and friends of the director and shareholder. The company has also received further funding since the year end and the director believes that this together with expected profits will enable the company to continue for twelve months from the date of signing these financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 March 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/2/24 | 28/2/23 |
£ | £ |
Trade debtors |
Rent deposit | 30,000 | 30,000 |
Directors' current accounts | 45,936 | 702 |
VAT |
Deferred tax asset |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/2/24 | 28/2/23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
PAYE |
Advance from customers | 31 | 22,662 |
Directors' current accounts | 728 | 728 |
Accruals and deferred income |
CHARLES BURNAND LTD (REGISTERED NUMBER: 04504087) |
Notes to the Financial Statements - continued |
for the year ended 29 FEBRUARY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29/2/24 | 28/2/23 |
£ | £ |
Bank loans more 5 yr by instalments |
Other loans | 389,579 | 321,734 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instalments | 79,626 | 131,215 |
Other loans | 389,579 | 321,734 |
469,205 | 452,949 |
The bank loans are secured by a personal guarantee from the director. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29/2/24 | 28/2/23 |
value: | £ | £ |
Ordinary | 1 | 2 | 2 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 March 2023 | ( |
) |
Deficit for the year | ( |
) |
At 29 February 2024 | ( |
) |