Registered number
08394747
Butterfield Design Limited
Filleted Accounts
29 February 2024
Butterfield Design Limited
Registered number: 08394747
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,719 2,292
Current assets
Debtors 4 8,742 11,828
Cash at bank and in hand 757 31
9,499 11,859
Creditors: amounts falling due within one year 5 (5,780) (5,284)
Net current assets 3,719 6,575
Net assets 5,438 8,867
Capital and reserves
Called up share capital 2 2
Profit and loss account 5,436 8,865
Shareholders' funds 5,438 8,867
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.
Nicholas Butterfield
Director
Approved by the board on 25 November 2024
Butterfield Design Limited
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:
Equipment 25% WDV
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment
£
Cost
At 1 March 2023 8,273
At 29 February 2024 8,273
Depreciation
At 1 March 2023 5,981
Charge for the year 573
At 29 February 2024 6,554
Net book value
At 29 February 2024 1,719
At 28 February 2023 2,292
4 Debtors 2024 2023
£ £
Trade debtors - 11,441
Other debtors 8,742 387
8,742 11,828
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 2,182
Other creditors 5,780 3,102
5,780 5,284
6 Other information
Butterfield Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
37 Harmony Close
London
England
NW11 0JJ
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