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REGISTERED NUMBER: 00663139 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

BURROWS BROTHERS (SALES) LIMITED

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BURROWS BROTHERS (SALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: M W Starsmore





SECRETARY: C M Starsmore





REGISTERED OFFICE: Wolsley House
108 Saltergate
Chesterfield
Derbyshire
S40 1NE





REGISTERED NUMBER: 00663139 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 356,487 325,893
Investments 6 2,261,350 2,261,350
2,617,837 2,587,243

CURRENT ASSETS
Stocks 98,375 96,450
Debtors 7 2,499,432 2,073,048
Cash at bank 3,172,362 3,250,502
5,770,169 5,420,000
CREDITORS
Amounts falling due within one year 8 4,908,289 4,508,222
NET CURRENT ASSETS 861,880 911,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,479,717

3,499,021

PROVISIONS FOR LIABILITIES 65,100 56,700
NET ASSETS 3,414,617 3,442,321

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Revaluation reserve 10 92,565 95,458
Capital redemption reserve 10 50 50
Retained earnings 10 3,307,002 3,331,813
SHAREHOLDERS' FUNDS 3,414,617 3,442,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

BALANCE SHEET - continued
31 MAY 2024


The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





M W Starsmore - Director


BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Burrows Brothers (Sales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

After reviewing the company's financial position, plans and future cash requirements, the director has formed the opinion that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the company continues to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Burrows Brothers (Sales) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based upon historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company's accounting policies
There are no critical accounting judgements, apart from those involving estimations (which are dealt with separately below) that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings - Straight line over 50 years
Plant, equipment and motor vehicles - 25% on reducing balance and 20% on reducing balance
Office equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are initially stated at cost in the balance sheet of the company
and reviewed for impairment at the end of the first full financial year following their acquisition and in
other periods if events or changes in circumstances indicate that the carrying value may not be
recoverable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant,
equipment
Freehold and motor Office
buildings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 June 2023 150,000 1,115,408 14,419 1,279,827
Additions - 107,358 - 107,358
Disposals - (35,836 ) - (35,836 )
At 31 May 2024 150,000 1,186,930 14,419 1,351,349
DEPRECIATION
At 1 June 2023 51,000 891,380 11,554 953,934
Charge for year 3,000 58,450 573 62,023
Eliminated on disposal - (21,095 ) - (21,095 )
At 31 May 2024 54,000 928,735 12,127 994,862
NET BOOK VALUE
At 31 May 2024 96,000 258,195 2,292 356,487
At 31 May 2023 99,000 224,028 2,865 325,893

Cost or valuation at 31 May 2024 is represented by:

Plant,
equipment
Freehold and motor Office
buildings vehicles equipment Totals
£    £    £    £   
Valuation in 2006 143,908 - - 143,908
Cost 6,092 1,186,930 14,419 1,207,441
150,000 1,186,930 14,419 1,351,349

If freehold buildings had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,092 6,092
Aggregate depreciation 2,927 2,805

The Freehold buildings class of fixed assets was revalued on 20 February 2006 by Wilkins Hammond, Chartered Surveyors, who are external to the company and subsequently valued on a deemed cost basis on 1 June 2015 by the director in accordance with FRS 102.

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 2,261,350
NET BOOK VALUE
At 31 May 2024 2,261,350
At 31 May 2023 2,261,350

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,259 91,764
Other debtors 2,408,173 1,981,284
2,499,432 2,073,048

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 51,098 46,456
Amounts owed to group undertakings 4,823,162 4,423,983
Corporation tax 3,141 3,434
Other taxes and social security 13,173 17,674
Other creditors 1,543 1,553
Accrued expenses 16,172 15,122
4,908,289 4,508,222

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 91,800 90,000
Between one and five years 127,200 210,000
In more than five years 2,250 -
221,250 300,000

BURROWS BROTHERS (SALES) LIMITED (REGISTERED NUMBER: 00663139)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2023 3,331,813 95,458 50 3,427,321
Profit for the year 10,226 10,226
Dividends (37,930 ) (37,930 )
Transfer from revaluation
reserve

2,893

(2,893

)

-

-

At 31 May 2024 3,307,002 92,565 50 3,399,617

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
M W Starsmore
Balance outstanding at start of year 1,678,182 647,370
Amounts advanced 56,058 1,030,812
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,734,240 1,678,182

Interest at an annual rate of 2.25% was payable on loans subsisting during the year. All amounts are unsecured and repayable on demand.