Registered number
08823932
Burton Reid Associates Limited
Unaudited Filleted Accounts
31 January 2024
Burton Reid Associates Limited
Registered number: 08823932
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 56,695 19,206
Current assets
Debtors 5 154,137 114,865
Cash at bank and in hand 28,829 44,337
182,966 159,202
Creditors: amounts falling due within one year 6 (99,637) (78,891)
Net current assets 83,329 80,311
Total assets less current liabilities 140,024 99,517
Creditors: amounts falling due after more than one year 7 (71,953) (58,336)
Provisions for liabilities (9,525) (3,650)
Net assets 58,546 37,531
Capital and reserves
Called up share capital 1 1
Profit and loss account 58,545 37,530
Shareholder's funds 58,546 37,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs J Reid
Director
Approved by the board on 30 October 2024
Burton Reid Associates Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Motor Vehicles 20% reducing balance
Debtors/creditors receivable/payable within one year
Debtor and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 30,000
At 31 January 2024 30,000
Amortisation
At 1 February 2023 30,000
At 31 January 2024 30,000
Net book value
At 31 January 2024 -
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 39,995 - 39,995
Additions 1,759 49,903 51,662
At 31 January 2024 41,754 49,903 91,657
Depreciation
At 1 February 2023 20,789 - 20,789
Charge for the year 4,192 9,981 14,173
At 31 January 2024 24,981 9,981 34,962
Net book value
At 31 January 2024 16,773 39,922 56,695
At 31 January 2023 19,206 - 19,206
5 Debtors 2024 2023
£ £
Trade debtors 57,047 47,034
Other debtors 97,090 67,831
154,137 114,865
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,604 19,178
Obligations under finance lease and hire purchase contracts 6,685 -
Trade creditors 2,117 3,160
Taxation and social security costs 62,338 54,817
Other creditors 7,893 1,736
99,637 78,891
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 37,733 58,336
Obligations under finance lease and hire purchase contracts 34,220 -
71,953 58,336
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 8,129 14,055
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs J Reid
Interest charged at HMRC's official rate, repayable on demand 37,883 51,088 (47,717) 41,254
37,883 51,088 (47,717) 41,254
10 Other information
Burton Reid Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 8 Buckfastleigh Business Centre
Chapel Street
Buckfastleigh
Devon
TQ11 0AB
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