Registered number
04087617
S. Burrows & Co. Limited
Filleted Abridged Accounts
31 March 2024
Aspect Accounting Ltd
47 Knowsley Street
Bury
Lancashire
BL9 0ST
S. Burrows & Co. Limited
Registered number: 04087617
Abridged Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 127,804 118,868
Current assets
Debtors - 900
Cash at bank and in hand 9,871 21,702
9,871 22,602
Creditors: amounts falling due within one year (58,819) (55,461)
Net current liabilities (48,948) (32,859)
Net assets 78,856 86,009
Capital and reserves
Called up share capital 100 100
Profit and loss account 78,756 85,909
Shareholders' funds 78,856 86,009
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr S Burrows
Director
Approved by the board on 10 October 2024
S. Burrows & Co. Limited
Notes to the Abridged Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The abridged 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investments
Listed investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Fair Value
At 1 April 2023 118,868
Transfer from fixed assets 30,510
Revaluation (995)
Disposals (20,579)
At 31 March 2024 127,804
Historical cost
At 1 April 2023 150,005
At 31 March 2024 164,169
The fair value of listed equity investments is determined based on the quoted market price available in an active market for those instruments.
4 Other information
S. Burrows & Co. Limited is a private company limited by shares and incorporated in England. Its registered office is:
118 Green Lane
Timperley
Altrincham
Cheshire
WA15 8QL
5 Prior year adjustments
In the previous financial year, fair value of investments were overstated by £31,137 and consequently no corresponding provision was charged against profits.The comparative figures for 2023 have been amended to reflect the correct figures. No provision for taxation was necessitated by this overstatement.The effect on the financial statements are as follows:
Accounts Difference Restated
2023 2023
Balance Sheet
Investments -Fair Value 150,005 150,005 -
At 1 April 2023
Profit and Loss Account
Loss on revaluation of Fixed Asset Investments - (31,137) (31,137)
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