1 October 2023 v2025.6.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsexbrli:purexbrli:sharesiso4217:GBPSC3079322023-10-012024-09-30SC3079322024-09-30SC307932bus:Director12023-10-012024-09-30SC307932bus:Director22023-10-012024-09-30SC307932bus:RegisteredOffice2023-10-012024-09-30SC3079322022-10-012023-09-30SC307932core:RetainedEarningsAccumulatedLosses2023-10-01SC307932core:RetainedEarningsAccumulatedLosses2022-10-01SC307932core:RetainedEarningsAccumulatedLosses2023-10-012024-09-30SC307932core:RetainedEarningsAccumulatedLosses2022-10-012023-09-30SC307932core:RetainedEarningsAccumulatedLosses2024-09-30SC307932core:RetainedEarningsAccumulatedLosses2023-09-30SC3079322023-09-30SC307932core:WithinOneYear2024-09-30SC307932core:WithinOneYear2023-09-30SC307932core:AfterOneYear2024-09-30SC307932core:AfterOneYear2023-09-30SC307932core:ShareCapital2024-09-30SC307932core:ShareCapital2023-09-30SC307932core:PlantMachinery2023-10-012024-09-30SC307932core:FurnitureFittingsToolsEquipment2023-10-012024-09-30SC307932core:MotorVehicles2023-10-012024-09-30SC307932core:PlantMachinery2024-09-30SC307932core:PlantMachinery2023-10-01SC307932core:PlantMachinery2023-09-30SC30793212023-10-012024-09-30SC307932countries:Scotland2023-10-012024-09-30SC307932bus:AuditExemptWithAccountantsReport2023-10-012024-09-30SC307932bus:PrivateLimitedCompanyLtd2023-10-012024-09-30SC307932bus:SmallEntities2023-10-012024-09-30SC307932bus:FullAccounts2023-10-012024-09-30
Company registration number:
SC307932
Burnawn Services Ltd
Unaudited Financial Statements for the year ended
30 September 2024
Burnawn Services Ltd
Officers and Professional Advisers
Year ended
30 September 2024
Directors
Martin Sneddon
Bryce McCutcheon
Registered office
Unit 4 Mayfield Industrial Estate
Hurlford
Kilmarnock
KA1 5EX
Scotland
Accountant
Balanced Books Ayrshire Ltd
1a Bank Place
Kilmarnock
KA1 1HJ
Scotland
Burnawn Services Ltd
Directors' Report
Year ended
30 September 2024
The directors present their report and the unaudited
financial statements
of the company for the year ended 30 September 2024.

Directors

The directors who served the company during the year were as follows:
Martin Sneddon
Bryce McCutcheon

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
13 December 2024
and signed on behalf of the board by:
Martin Sneddon
Bryce McCutcheon
DirectorDirector
Burnawn Services Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Burnawn Services Ltd
Year ended
30 September 2024
As described on the statement of financial position, the Board of Directors of
Burnawn Services Ltd
are responsible for the preparation of the
financial statements
for the year ended
30 September 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Balanced Books Ayrshire Ltd
1a Bank Place
Kilmarnock
KA1 1HJ
Scotland
Date:
13 December 2024
Burnawn Services Ltd
Income Statement
Year ended
30 September 2024
20242023
££
Turnover
1,701,568
 
1,278,700
 
Cost of sales
(1,459,131
) (1,015,907 )
Gross profit
242,437
 
262,793
 
Administrative expenses
(133,718
)
(199,307
)
Operating profit
108,719
 
63,486
 
Other interest receivable and similar income
3,460
 
1,767
 
Interest payable and similar expenses
(12,722
)
(13,777
)
Profit before tax
99,457
 
51,476
 
Tax on profit
(26,148
)
(15,795
)
Profit for the financial year
73,309
 
35,681
 
The company has no other recognised items of income or expense other than the results for the year as set out above.
Burnawn Services Ltd
Statement of Income and Retained Earnings
Year ended
30 September 2024
20242023
££
Retained earnings at the start of the year
139,074
 
315,993
 
Profit for the financial year
73,309
 
35,681
 
Dividends declared and paid or payable during the year
(45,000
)
(212,600
)
Retained earnings at the end of the year
167,383
 
139,074
 
Burnawn Services Ltd
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
64,584
 
85,939
 
Current assets    
Stocks
85,500
 
94,149
 
Debtors 6
322,731
 
404,269
 
Cash at bank and in hand
291,510
 
234,713
 
699,741
 
733,131
 
Creditors: amounts falling due within one year 7
(564,497
)
(577,440
)
Net current assets
135,244
 
155,691
 
Total assets less current liabilities 199,828   241,630  
Creditors: amounts falling due after more than one year 8
(16,049
)
(80,821
)
Provisions for liabilities
(16,146
)
(21,485
)
Net assets
167,633
 
139,324
 
Capital and reserves    
Called up share capital
250
 
250
 
Profit and loss account
167,383
 
139,074
 
Shareholders funds
167,633
 
139,324
 
For the year ending
30 September 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
13 December 2024
, and are signed on behalf of the board by:
Martin Sneddon
Bryce McCutcheon
DirectorDirector
Company registration number:
SC307932
Burnawn Services Ltd
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
Unit 4 Mayfield Industrial Estate
,
Hurlford
,
Kilmarnock
,
KA1 5EX
, Scotland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% on reducing balance
Fixtures, fittings and equipment
20% on reducing balance
Motor vehicles
25% on reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
12
(2023:
15
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 October 2023
and
30 September 2024
188,491
 
Depreciation  
At
1 October 2023
102,552
 
Charge
21,355
 
At
30 September 2024
123,907
 
Carrying amount  
At
30 September 2024
64,584
 
At 30 September 2023
85,939
 

6 Debtors

20242023
££
Trade debtors
18,301
 
21,280
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
251,391
 
351,391
 
Other debtors
53,039
 
31,598
 
322,731
 
404,269
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
46,296
 
55,556
 
Trade creditors
251,682
 
171,806
 
Taxation and social security
31,487
 
43,015
 
Other creditors
235,032
 
307,063
 
564,497
 
577,440
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts -  
46,296
 
Other creditors
16,049
 
34,525
 
16,049
 
80,821