Registered number
13931422
BURWOOD CONSTRUCTION LTD
Filleted Accounts
29 February 2024
BURWOOD CONSTRUCTION LTD
Registered number: 13931422
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,840 367
Current assets
Debtors 4 170,670 191,055
Cash at bank and in hand 43,811 69,028
214,481 260,083
Creditors: amounts falling due within one year 5 (74,044) (71,416)
Net current assets 140,437 188,667
Net assets 142,277 189,034
Capital and reserves
Called up share capital 100 100
Profit and loss account 142,177 188,934
Shareholder's funds 142,277 189,034
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 his 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.
Louis Clark
Director
Approved by the board on 10 November 2024
BURWOOD CONSTRUCTION LTD
Notes to the Accounts
for the year ended 29 February 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).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 490
Additions 1,997
At 29 February 2024 2,487
Depreciation
At 1 March 2023 123
Charge for the year 524
At 29 February 2024 647
Net book value
At 29 February 2024 1,840
At 28 February 2023 367
4 Debtors 2024 2023
£ £
Trade debtors 46,293 84,416
Other debtors 124,377 106,639
170,670 191,055
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,492 -
Trade creditors 33,422 2,330
Taxation and social security costs 22,850 58,571
Other creditors 10,280 10,515
74,044 71,416
6 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 28,092 32,260
7 Other information
BURWOOD CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
34 Rydens Road
Walton OnThames
Surrey
KT12 3DL
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