Company registration number 05201555 (England and Wales)
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Intangible assets
3
500
3,500
Tangible assets
4
1,008
2,241
1,508
5,741
CURRENT ASSETS
Debtors
5
81,253
66,405
Cash at bank and in hand
3,948
15,888
85,201
82,293
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6
(46,621)
(47,398)
NET CURRENT ASSETS
38,580
34,895
TOTAL ASSETS LESS CURRENT LIABILITIES
40,088
40,636
PROVISIONS FOR LIABILITIES
(200)
(509)
NET ASSETS
39,888
40,127
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss reserves
39,886
40,125
TOTAL EQUITY
39,888
40,127
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
Mr W G Buckle
Director
Company registration number 05201555 (England and Wales)
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
ACCOUNTING POLICIES
Company information

Buckle Chamberlain Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mill House, Llancayo Court , Llancayo, Usk, Monmouthshire, NP15 1HY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for architectural services rendered, net of discounts and Value Added Tax.

1.3
Intangible fixed assets - goodwill

Goodwill arises on a business acquisition and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.5
Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

 

Impairment of financial assets

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.

 

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cashflows from other assets or groups of assets.

 

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
ACCOUNTING POLICIES
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

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 tot the extent that the prepayment will lead to a reduction in future payments or a cash refund.

 

When contribution are not expected to be settled wholly with in 12 months of the end of the reporting date in which the employees render the related services, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
2
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
60,000
Amortisation and impairment
At 1 September 2023
56,500
Amortisation charged for the year
3,000
At 31 August 2024
59,500
Carrying amount
At 31 August 2024
500
At 31 August 2023
3,500
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
4
TANGIBLE FIXED ASSETS
Plant and machinery etc
£
Cost
At 1 September 2023
41,937
Disposals
(5,329)
At 31 August 2024
36,608
Depreciation and impairment
At 1 September 2023
39,696
Depreciation charged in the year
1,233
Eliminated in respect of disposals
(5,329)
At 31 August 2024
35,600
Carrying amount
At 31 August 2024
1,008
At 31 August 2023
2,241
5
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
34,086
32,890
Other debtors
47,167
33,515
81,253
66,405
6
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
1,110
4,819
Corporation tax
2,590
2,552
Other taxation and social security
39,102
35,768
Other creditors
3,819
4,259
46,621
47,398
BUCKLE CHAMBERLAIN PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
7
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is a balance of £17,772 (2023 - £2,867) due from the director.

 

Included within other creditors is a balance of £132 (£13,579 debtor) due to a former director.

 

These balances are repayable on demand.

2024-08-312023-09-01falsefalsefalse06 March 2025CCH SoftwareCCH Accounts Production 2024.310The principal activity of the company is that of architectural activities.
Mr W G BuckleMr R A Chamberlain
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