1 June 2023 false No description of principal activity Taxfiler 2024.5 12019505business:PrivateLimitedCompanyLtd2023-06-012024-05-31 120195052023-05-31 120195052023-06-012024-05-31 12019505business:AuditExemptWithAccountantsReport2023-06-012024-05-31 12019505business:AbridgedAccounts2023-06-012024-05-31 120195052024-05-31 120195052023-05-31 12019505core:WithinOneYear2024-05-31 12019505core:WithinOneYear2023-05-31 12019505core:AfterOneYear2024-05-31 12019505core:AfterOneYear2023-05-31 12019505core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 12019505core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 12019505core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 12019505core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 12019505core:PreviouslyStatedAmount2024-05-31 12019505core:PreviouslyStatedAmount2023-05-31 12019505business:SmallEntities2023-06-012024-05-31 12019505business:Director12023-06-012024-05-31 12019505countries:EnglandWales2023-06-012024-05-31 12019505business:RegisteredOffice2023-06-012024-05-31 12019505core:PlantMachinery2023-06-012024-05-31 12019505core:MotorVehicles2023-06-012024-05-31 12019505core:FurnitureFittings2023-06-012024-05-31 12019505core:ComputerEquipment2023-06-012024-05-31 120195052022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. 12019505 (England and Wales)
BURLEY INTERIORS LTD Unaudited accounts for the year ended 31 May 2024
BURLEY INTERIORS LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
133,687 
100,387 
Current assets
Inventories
(2,333)
(136,045)
Debtors
62,889 
113,412 
Cash at bank and in hand
29,935 
149,146 
90,491 
126,513 
Creditors: amounts falling due within one year
(93,267)
(118,398)
Net current (liabilities)/assets
(2,776)
8,115 
Total assets less current liabilities
130,911 
108,502 
Creditors: amounts falling due after more than one year
(90,761)
(16,666)
Provisions for liabilities
Deferred tax
(24,615)
(19,756)
Net assets
15,535 
72,080 
Capital and reserves
Called up share capital
7 
4 
Profit and loss account
15,528 
72,076 
Shareholders' funds
15,535 
72,080 
For the year ending 31 May 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by
J P North Director Company Registration No. 12019505
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BURLEY INTERIORS LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
BURLEY INTERIORS LTD is a private company, limited by shares, registered in England and Wales, registration number 12019505. The registered office is 38-40 Station Road, Burley in Wharfedale, ILKLEY, West Yorkshire, LS29 7NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%/25% Reducing Balance
Motor vehicles
25.00% Reducing Balance
Fixtures & fittings
20.00% Straight Line
Computer equipment
33.33% Straight Line
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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BURLEY INTERIORS LTD Notes to the Accounts for the year ended 31 May 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2023
132,950 
Additions
67,925 
Disposals
(11,000)
At 31 May 2024
189,875 
Depreciation
At 1 June 2023
32,563 
Charge for the year
30,951 
On disposals
(7,326)
At 31 May 2024
56,188 
Net book value
At 31 May 2024
133,687 
At 31 May 2023
100,387 
5
Transactions with related parties
Burley Interiors Ltd is controlled by Mr J P North and Mr L J Roche During the year the company paid dividends on ordinary shares of £75,148 (2023 - £42,900).
6
Average number of employees
During the year the average number of employees was 10 (2023: 4).
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