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Registration number: 11191121

Burtt-Jones & Brewer Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Burtt-Jones & Brewer Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Burtt-Jones & Brewer Limited

Company Information

Directors

A Burtt-Jones

S W Brewer

Registered office

Plash Cottage Upper Ferry Road
Penallt
Monmouth
Monmouthshire
NP25 4AN

Accountants

Bourner Bullock
Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Burtt-Jones & Brewer Limited

(Registration number: 11191121)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

22,629

40,230

Current assets

 

Debtors

6

113,659

103,111

Cash at bank and in hand

 

1

72,248

 

113,660

175,359

Creditors: Amounts falling due within one year

7

(131,792)

(88,693)

Net current (liabilities)/assets

 

(18,132)

86,666

Total assets less current liabilities

 

4,497

126,896

Creditors: Amounts falling due after more than one year

7

(19,789)

(58,425)

Provisions for liabilities

(4,249)

(7,644)

Net (liabilities)/assets

 

(19,541)

60,827

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(19,641)

60,727

Shareholders' (deficit)/funds

 

(19,541)

60,827

 

Burtt-Jones & Brewer Limited

(Registration number: 11191121)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
A Burtt-Jones
Director

.........................................
S W Brewer
Director

 
     
 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

Principal activity

The principal activity of the Company is that of specialised design activities.

The address of its registered office is:
Plash Cottage Upper Ferry Road
Penallt
Monmouth
Monmouthshire
NP25 4AN

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern. The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Motor vehicles

33% straight line

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 5 (2023 - 6).

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

11,128

49,590

60,718

Additions

2,105

-

2,105

At 29 February 2024

13,233

49,590

62,823

Depreciation

At 1 March 2023

3,079

17,409

20,488

Charge for the year

3,176

16,530

19,706

At 29 February 2024

6,255

33,939

40,194

Carrying amount

At 29 February 2024

6,978

15,651

22,629

At 28 February 2023

7,170

33,060

40,230

6

Debtors

2024
£

2023
£

Trade debtors

11,060

13,730

Prepayments and accrued income

12,750

14,020

Other debtors

89,849

75,361

113,659

103,111

 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

47,431

16,189

Trade creditors

 

402

6,660

Taxation and social security

 

62,217

40,627

Accruals and deferred income

 

21,118

24,583

Other creditors

 

624

634

 

131,792

88,693

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

19,789

58,425

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,789

58,425

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,481

9,911

Bank overdrafts

5,450

-

Hire purchase contracts

33,500

6,278

47,431

16,189

 

Burtt-Jones & Brewer Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £0.01 each

4,850

48.50

4,850

48.50

Ordinary B shares of £0.01 each

4,850

48.50

4,850

48.50

Ordinary C shares of £0.01 each

300

3.00

300

3.00

10,000

100.00

10,000

100.00

Ordinary A and B shares have full voting and dividends rights attached to them.
Ordinary C shares have dividends rights attached to them. They do not entitle holders the right or notice to attend or vote at any general meetings of the company.

10

Related party transactions

Dividends paid to directors

 

2024
£

2023
£

   

Dividends paid

102,555

137,364

     
         

 

11

Provisions

2024
£

2023
£

Deferred tax liability

4,249

7,644