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REGISTERED NUMBER: 07604901 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 DECEMBER 2023

FOR

J T BYRNE FUNERAL DIRECTORS LTD

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J T BYRNE FUNERAL DIRECTORS LTD

COMPANY INFORMATION
for the year ended 29 December 2023







DIRECTORS: Mr John Trevor Byrne
Mrs Amy Byrne





REGISTERED OFFICE: The Willows
Station Road
Thornton Cleveleys
Lancashire
FY5 5HZ





REGISTERED NUMBER: 07604901 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

BALANCE SHEET
29 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 60,000 67,500
Tangible assets 5 926,381 958,044
986,381 1,025,544

CURRENT ASSETS
Debtors 6 85,954 124,851
Cash at bank and in hand 287,220 237,347
373,174 362,198
CREDITORS
Amounts falling due within one year 7 (316,180 ) (371,742 )
NET CURRENT ASSETS/(LIABILITIES) 56,994 (9,544 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,043,375

1,016,000

CREDITORS
Amounts falling due after more than one
year

8

(280,046

)

(313,112

)

PROVISIONS FOR LIABILITIES (21,345 ) (28,924 )
NET ASSETS 741,984 673,964

CAPITAL AND RESERVES
Called up share capital 130 130
Retained earnings 741,854 673,834
SHAREHOLDERS' FUNDS 741,984 673,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

BALANCE SHEET - continued
29 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr John Trevor Byrne - Director


J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 December 2023

1. STATUTORY INFORMATION

J T Byrne Funeral Directors Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern

The directors are satisfied at the time of approving the financial statements that the company has
adequate resources to continue to operate for the foreseeable future and as such, continues to adopt
the going concern basis in preparing the financial statements.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Contrary to the requirements of FRS 102 1a, the company does not provide for depreciation on freehold buildings. In the opinion of the directors the residual value of the property is so high and its useful life so long that any depreciation charged would be wholly immaterial.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 December 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 December 2022
and 29 December 2023 150,000
AMORTISATION
At 30 December 2022 82,500
Amortisation for year 7,500
At 29 December 2023 90,000
NET BOOK VALUE
At 29 December 2023 60,000
At 29 December 2022 67,500

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 December 2022
and 29 December 2023 826,794 137,537 328,212 4,223 1,296,766
DEPRECIATION
At 30 December 2022 - 78,906 256,641 3,175 338,722
Charge for year - 11,012 19,632 1,019 31,663
At 29 December 2023 - 89,918 276,273 4,194 370,385
NET BOOK VALUE
At 29 December 2023 826,794 47,619 51,939 29 926,381
At 29 December 2022 826,794 58,631 71,571 1,048 958,044

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 30 December 2022 72,000
Transfer to ownership (72,000 )
At 29 December 2023 -
DEPRECIATION
At 30 December 2022 28,801
Charge for year 7,200
Transfer to ownership (36,001 )
At 29 December 2023 -
NET BOOK VALUE
At 29 December 2023 -
At 29 December 2022 43,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,952 94,851
Other debtors 7 -
Directors' current accounts 3,995 30,000
85,954 124,851

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 79,357 78,217
Unsecured bank loan 9,493 9,243
Hire purchase contracts (see note 9) - 5,817
Trade creditors 136,347 135,760
Tax 45,376 115,902
Social security and other taxes 19,150 4,053
Accruals and deferred income 26,457 22,750
316,180 371,742

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 264,925 287,842
Unsecured bank loan 15,121 25,270
280,046 313,112

Bank loans outstanding at the year end amounted to £314,483 (2022 - £347,721) and include instalments due after more than five years of £139,614 (2022 - £177,313).

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 5,817

The company had commitments, under non-cancellable operating leases, at 29 December 2023 of £2,358 (2022 - £7,073).

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 54,413 52,851
Bank loans 289,869 313,208
Hire purchase contracts - 5,817
344,282 371,876

J T BYRNE FUNERAL DIRECTORS LTD (REGISTERED NUMBER: 07604901)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 December 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 December 2023 and 29 December 2022:

2023 2022
£    £   
Mrs Christine Amy Byrne and Mr John Trevor Byrne
Balance outstanding at start of year - 55,533
Amounts repaid - (55,533 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr John Trevor Byrne and Mrs Amy Byrne
Balance outstanding at start of year 30,000 -
Amounts advanced 115,659 189,140
Amounts repaid (141,664 ) (159,140 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,995 30,000

The loan to the director was unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2022 - £203,492) were paid to the directors .