1 April 2023 v2024.23.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP009693812023-04-012024-03-31009693812024-03-31009693812023-03-3100969381core:WithinOneYear2024-03-3100969381core:WithinOneYear2023-03-3100969381core:AfterOneYear2024-03-3100969381core:AfterOneYear2023-03-3100969381core:ShareCapital2024-03-3100969381core:ShareCapital2023-03-3100969381core:RetainedEarningsAccumulatedLosses2024-03-3100969381core:RetainedEarningsAccumulatedLosses2023-03-3100969381bus:Director12023-04-012024-03-3100969381core:LandBuildings2023-04-012024-03-3100969381core:PlantMachinery2023-04-012024-03-3100969381core:MotorVehicles2023-04-012024-03-31009693812022-04-012023-03-3100969381core:LandBuildings2023-04-0100969381core:PlantMachinery2023-04-01009693812023-04-0100969381core:LandBuildings2024-03-3100969381core:PlantMachinery2024-03-3100969381core:LandBuildings2023-03-3100969381core:PlantMachinery2023-03-3100969381core:CostValuation2023-04-0100969381core:CostValuation2024-03-310096938112023-04-012024-03-3100969381countries:EnglandWales2023-04-012024-03-3100969381bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3100969381bus:PrivateLimitedCompanyLtd2023-04-012024-03-3100969381bus:SmallEntities2023-04-012024-03-3100969381bus:FullAccounts2023-04-012024-03-31
Company registration number:
00969381
Burhouse Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2024
Burhouse Limited
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 5
584,646
 
327,062
 
Investments 6
100
 
100
 
584,746
 
327,162
 
Current assets    
Stocks
336,085
 
363,932
 
Debtors 7
83,024
 
65,097
 
Cash at bank and in hand
220,371
 
255,938
 
639,480
 
684,967
 
Creditors: amounts falling due within one year 8
(706,959
)
(283,771
)
Net current (liabilities)/assets
(67,479
)
401,196
 
Total assets less current liabilities 517,267   728,358  
Creditors: amounts falling due after more than one year 9
(20,249
)
(30,000
)
Net assets
497,018
 
698,358
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
496,918
 
698,258
 
Shareholders funds
497,018
 
698,358
 
For the 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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
5 June 2024
, and are signed on behalf of the board by:
H L Macleod
Director
Company registration number:
00969381
Burhouse Limited
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 50 years
Plant and machinery
20% straight line
Motor vehicles
25% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
15
(2023:
15.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2023
734,631
 
356,382
 
1,091,013
 
Additions
314,599
  -  
314,599
 
Disposals
(66,727
) -  
(66,727
)
At
31 March 2024
982,503
 
356,382
 
1,338,885
 
Depreciation      
At
1 April 2023
413,125
 
350,826
 
763,951
 
Charge
14,693
 
1,896
 
16,589
 
Disposals
(26,301
) -  
(26,301
)
At
31 March 2024
401,517
 
352,722
 
754,239
 
Carrying amount      
At
31 March 2024
580,986
 
3,660
 
584,646
 
At 31 March 2023
321,506
 
5,556
 
327,062
 

6 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 April 2023
100
 
At
31 March 2024
100
 
Impairment  
At
1 April 2023
and
31 March 2024
-  
Carrying amount  
At
31 March 2024
100
 
At 31 March 2023
100
 

7 Debtors

20242023
££
Trade debtors
56,754
 
49,572
 
Other debtors
26,270
 
15,525
 
83,024
 
65,097
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
43,965
 
42,333
 
Taxation and social security
41,530
 
36,144
 
Other creditors
611,464
 
195,294
 
706,959
 
283,771
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
20,249
 
30,000