REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Birtles (House Builders) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Birtles (House Builders) Limited |
Birtles (House Builders) Limited (Registered number: 00680217) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
Birtles (House Builders) Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
68 Queen Street |
Sheffield |
South Yorkshire |
S1 1WR |
BANKERS: |
PO Box 120 |
42 High Street |
Sheffield |
South Yorkshire |
S1 2GE |
SOLICITORS: |
86 Bridge Street |
Worksop |
Nottinghamshire |
S80 1JF |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Birtles (House Builders) Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Birtles (House Builders) Limited for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Birtles (House Builders) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Birtles (House Builders) Limited and state those matters that we have agreed to state to the Board of Directors of Birtles (House Builders) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Birtles (House Builders) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Birtles (House Builders) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Birtles (House Builders) Limited. You consider that Birtles (House Builders) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Birtles (House Builders) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
68 Queen Street |
Sheffield |
South Yorkshire |
S1 1WR |
Birtles (House Builders) Limited (Registered number: 00680217) |
Statement of Financial Position |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Birtles (House Builders) Limited (Registered number: 00680217) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Birtles (House Builders) Limited (Registered number: 00680217) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Birtles (House Builders) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts chargeable in respect of rental income derived from the investment properties held by the company. Revenue is recognised net of rebates and discounts upon establishment of a rental agreement with the tenant, accruing for rental income over the rental period. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. 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. |
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. |
Birtles (House Builders) Limited (Registered number: 00680217) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Birtles (House Builders) Limited (Registered number: 00680217) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | INVESTMENT PROPERTY - continued |
The Freehold land and Investment properties class of fixed assets were retrospectively revalued on 5 October 2019 by Fisher German, Chartered Surveyors who are external to the company. The basis of this valuation was open market. The directors have subsequently reviewed these valuations and do not consider there has been any change in these valuations as at the 31 March 2024. |
This class of assets has a current value of £537,000 (2023 - £537,000). |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Tax |
Accruals and deferred income |
Birtles (House Builders) Limited (Registered number: 00680217) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | RELATED PARTY DISCLOSURES |
Summary of Transactions with Associates |
Aston Investments Limited |
Aston Investments Limited is a company under common directorate to that of Birtles (House Builders) Limited. |
During the year the company loaned to Aston Investments Limited the sum of £nil (2023- £1,483). |
During the year the company was repaid by Aston Investments Limited the sum of £20,409 (2023-£nil) |
At the balance sheet date the amount due from Aston Investments Limited was £2,189 (2023 - £22,598). |
Summary of Transactions with other related parties |
C L & H Developments Limited |
C L & H Developments Limited is a company under common directorate to that of Birtles (House Builders) Limited. |
Birtles (House Builders) Limited loaned the sum of £80,000 to C L & H Developments Limited in an earlier accounting period. At the balance sheet date the amount due from C L & H Developments Limited was £80,000 (2023 - £80,000). |
The Z Birtles 2nd Discretionary Trust |
The Z Birtles 2nd Discretionary Trust is a trust whom the beneficiaries are the children of Mr P W K Webber and Mrs J M Webber who are both directors and Mrs J M Webber is a shareholder of the company. |
During the year the company loaned The Z Birtles 2nd Discretionary Trust the sum of £1,129 (2023 - £24,628) and was repaid the sum of £4,729 (2023 - £31,903). |
. |
At the balance sheet date the amount due from The Z Birtles 2nd Discretionary Trust was £2,388 (2023 - £5,988). |
Mr H P K Webber |
Mr H P K Webber is the son of Mr P W K Webber and Mrs J M Webber who are both directors and Mrs J M Webber a shareholder of the company. |
The company loaned Mr H P K Webber the sum of £110,000 in an earlier accounting period. Interest of £2,475 (2023 - £1,925) was charged by the company during the year. |
At the balance sheet date the amount due from Mr H P K Webber was £110,000 (2023 - £110,000). |