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REGISTERED NUMBER: 00376566 (England and Wales)















BURTTS OF DOWSBY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


BURTTS OF DOWSBY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr M R Burtt
Mr S G Burtt
Mrs A T Burtt





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 00376566 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,090,469 10,080,935
Investments 5 413,055 413,055
11,503,524 10,493,990

CURRENT ASSETS
Valuation 349,738 474,075
Debtors 6 1,677,906 1,425,160
Investments 7 122 122
Cash at bank and in hand 212,747 130,446
2,240,513 2,029,803
CREDITORS
Amounts falling due within one year 8 1,265,476 766,195
NET CURRENT ASSETS 975,037 1,263,608
TOTAL ASSETS LESS CURRENT LIABILITIES 12,478,561 11,757,598

CREDITORS
Amounts falling due after more than one year 9 (3,064,274 ) (3,075,734 )

PROVISIONS FOR LIABILITIES (859,022 ) (729,564 )
NET ASSETS 8,555,265 7,952,300

CAPITAL AND RESERVES
Called up share capital 11 41,933 41,933
Share premium 309,333 309,333
Revaluation reserve 12 4,365,874 3,831,332
Retained earnings 3,838,125 3,769,702
SHAREHOLDERS' FUNDS 8,555,265 7,952,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 26 November 2024 and were signed on its behalf by:





Mr S G Burtt - Director


BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Burtts of Dowsby Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Burtts of Dowsby Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at fair value and represents sales of produce and rental income, excluding value added tax.

Sales of produce are recognised upon despatch and rents receivable from investment properties are recognised over the period of the lease.

The Basic Payment Scheme is recognised in the financial statements in accordance with the current H. M. Revenue & Customs guidance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Valuation
The valuation of tenantright, produce and stores in hand has been carried out by Messrs. Escritt, Barrell & Golding Chartered Surveyors, at the lower of cost and fair value of cost to complete and sell.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 shorter.

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

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 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold
land and Investment Plant and
buildings property machinery
£    £    £   
COST OR VALUATION
At 1 June 2023 7,674,264 2,099,000 153,133
Additions 386,617 - 3,403
Disposals (31,439 ) - (6,172 )
Revaluations - 664,000 -
At 31 May 2024 8,029,442 2,763,000 150,364
DEPRECIATION
At 1 June 2023 38,326 - 124,780
Charge for year - - 5,716
Eliminated on disposal (31,439 ) - (5,332 )
At 31 May 2024 6,887 - 125,164
NET BOOK VALUE
At 31 May 2024 8,022,555 2,763,000 25,200
At 31 May 2023 7,635,938 2,099,000 28,353

BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Storage
vehicles units Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 170,981 328,789 10,426,167
Additions - - 390,020
Disposals (6,100 ) - (43,711 )
Revaluations - - 664,000
At 31 May 2024 164,881 328,789 11,436,476
DEPRECIATION
At 1 June 2023 57,893 124,233 345,232
Charge for year 13,225 24,512 43,453
Eliminated on disposal (5,907 ) - (42,678 )
At 31 May 2024 65,211 148,745 346,007
NET BOOK VALUE
At 31 May 2024 99,670 180,044 11,090,469
At 31 May 2023 113,088 204,556 10,080,935

Investment properties are included at open market value. The valuation has been prepared by the company's director based on their knowledge and experience of the property market.

Cost or valuation at 31 May 2024 is represented by:

Freehold
land and Investment Plant and
buildings property machinery
£    £    £   
Valuation in 2023 4,174,490 172,786 -
Valuation in 2024 - 664,000 -
Cost 3,854,952 1,926,214 150,364
8,029,442 2,763,000 150,364

Motor Storage
vehicles units Totals
£    £    £   
Valuation in 2023 - - 4,347,276
Valuation in 2024 - - 664,000
Cost 164,881 328,789 6,425,200
164,881 328,789 11,436,476

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,578,420 1,578,420


BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 413,055
NET BOOK VALUE
At 31 May 2024 413,055
At 31 May 2023 413,055

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 168,950 118,934
Amounts owed by group undertakings 1,214,491 976,554
Other debtors 24,001 91,567
VAT 38,401 32,172
Prepayments 48,078 32,220
1,493,921 1,251,447

Amounts falling due after more than one year:
Other debtors 183,985 173,713

Aggregate amounts 1,677,906 1,425,160

7. CURRENT ASSET INVESTMENTS

2022 2021
£ £
Unlisted investments 122 122
122 122

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 478,297 205,136
Hire purchase contracts 10,096 5,451
Trade creditors 45,385 130,008
Corporation tax 1,100 -
Social security and other taxes 9,994 8,471
Other creditors 606 6,587
Directors' current accounts 630,168 237,426
Accrued expenses 89,830 173,116
1,265,476 766,195

BURTTS OF DOWSBY LIMITED (REGISTERED NUMBER: 00376566)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans >5years 3,009,747 3,009,747
Hire purchase contracts 54,527 65,987
3,064,274 3,075,734

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans >5years 3,009,747 3,009,747

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 478,297 205,136
Bank loans 3,009,747 3,009,747
Hire purchase contracts 64,623 71,438
3,552,667 3,286,321

The bank borrowings are secured by a legal charge over the company's freehold land.

The HP liability is secured on the asset to which it relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40,266 Ordinary £1 41,933 41,933

12. RESERVES
Revaluation
reserve
£   
At 1 June 2023 3,831,332
Transfer from revaluation reserve (129,458 )
Transfer to profit and loss 664,000

At 31 May 2024 4,365,874

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.

13. RELATED PARTY DISCLOSURES

During the year £232,000 was loaned to Tribex Holdings Limited, a company in which a shareholder of Burtts of Dowsby Limited is the only shareholder.