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Registration number: 04577698

Burrow Down Support Services Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2024

 

Burrow Down Support Services Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Statement of Director's Responsibilities

4

Independent Auditor's Report

5 to 7

Profit and Loss Account

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11 to 19

 

Burrow Down Support Services Limited

Company Information

Director

M G Dhanak

Registered office

Unit 4
Bradbourne Drive
Tilbrook
Milton Keynes
MK7 8BN

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Burrow Down Support Services Limited

Strategic Report for the Year Ended 30 June 2024

The director presents his strategic report for the year ended 30 June 2024. The comparative period is from 1 January 2022 to 30 June 2023.

Principal activity

The principal activity of the company is the provision of care services.

Fair review of the business

The results for the year, which are set out in the profit and loss account, show turnover of £6,879,198 (2023 - £9,095,282) and an operating profit of £1,679,926 (2023 - £3,461,653). At 30 June 2024, the company had net assets of £11,926,471 (2023 - £10,592,319). The directors consider the performance for the year and the financial position at the year end to be satisfactory.

Given the nature of the business, the director is of the opinion that key performance indicators are important. The company uses a number of indicators to monitor and improve the position of the business. Indicators are reviewed and altered to meet changes both in the internal and external environments. The director does not consider the inclusion of an analysis using key performance indicators to be necessary to assist users of the financial statements in their understanding of the financial performance or position of the company.

Principal risks and uncertainties

Principal risks and uncertainties are disclosed in the financial statements of the company's parent company, Precious Homes Essex Limited.

Approved by the director on 28 March 2025


M G Dhanak
Director

 

Burrow Down Support Services Limited

Director's Report for the Year Ended 30 June 2024

The director presents his report and the financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

M G Dhanak

Financial instruments

Objectives and policies

The company is exposed to the usual credit and cash flow risk associated with selling on credit and manages this through credit control procedures. The Board monitors the company's trading results with a view to ensuring that the company can meet its future obligations as they fall due.

Future developments

The external environment is expected to remain competitive going forward, however the director remains confident that the company will improve on its current level of performance in the future.

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to continue in office.

Approved by the director on 28 March 2025


M G Dhanak
Director

 

Burrow Down Support Services Limited

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards has been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Burrow Down Support Services Limited

Independent Auditor's Report to the Members of Burrow Down Support Services Limited

Opinion

We have audited the financial statements of Burrow Down Support Services Limited (the 'company') for the year ended 30 June 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Burrow Down Support Services Limited

Independent Auditor's Report to the Members of Burrow Down Support Services Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities set out on page 4, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

 

Burrow Down Support Services Limited

Independent Auditor's Report to the Members of Burrow Down Support Services Limited

In common with all audits conducted in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;

enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

reading minutes of meetings of those charged with governance.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.





Simon Worsley (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Windsor House
Bayshill Road
Cheltenham
GL50 3AT

28 March 2025

 

Burrow Down Support Services Limited

Profit and Loss Account for the Year Ended 30 June 2024

Note

Year ended30 June 2024
£

1 January 2022 to 30 June 2023
£

Turnover

3

6,879,198

9,095,282

Cost of sales

 

(4,277,656)

(4,333,448)

Gross profit

 

2,601,542

4,761,834

Administrative expenses

 

(902,479)

(1,300,181)

Exceptional items

5

(19,137)

-

Operating profit

4

1,679,926

3,461,653

Other interest receivable and similar income

6

1,868

3,560

Profit before tax

 

1,681,794

3,465,213

Taxation

10

(347,642)

(497,656)

Profit for the financial year

 

1,334,152

2,967,557

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Burrow Down Support Services Limited

(Registration number: 04577698)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

11

-

50,000

Tangible assets

12

6,043,656

6,080,365

 

6,043,656

6,130,365

Current assets

 

Stocks

-

50

Debtors

13

7,041,934

4,991,165

Cash at bank and in hand

 

217,639

474,042

 

7,259,573

5,465,257

Creditors: Amounts falling due within one year

14

(1,327,662)

(954,207)

Net current assets

 

5,931,911

4,511,050

Total assets less current liabilities

 

11,975,567

10,641,415

Provisions for liabilities

10

(49,096)

(49,096)

Net assets

 

11,926,471

10,592,319

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

11,926,470

10,592,318

Shareholders' funds

 

11,926,471

10,592,319

Approved and authorised by the director on 28 March 2025
 


M G Dhanak
Director

 

Burrow Down Support Services Limited

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 July 2023

1

10,592,318

10,592,319

Profit for the year

-

1,334,152

1,334,152

At 30 June 2024

1

11,926,470

11,926,471

Share capital
£

Profit and loss account
£

Total
£

At 1 January 2022

1

7,624,761

7,624,762

Profit for the period

-

2,967,557

2,967,557

At 30 June 2023

1

10,592,318

10,592,319

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4
Bradbourne Drive
Tilbrook
Milton Keynes
MK7 8BN

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Summary of disclosure exemptions

The company has not presented a cash flow statement on the grounds that the company is a wholly owned subsidiary and a group cash flow statement is included in the financial statements of the ultimate parent company.

Name of parent of group

These financial statements are consolidated in the financial statements of Precious Homes Essex Limited.

The financial statements of Precious Homes Essex Limited may be obtained from Companies House.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

Straight line over 75 years

Long leasehold property

Straight line over 12 years

Plant and machinery

10% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Freehold land is not depreciated.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

3

Turnover

The total turnover of the company has been derived from its principal activity wholly undertaken in the United Kingdom.

 

4

Operating profit

Arrived at after charging/(crediting)

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Depreciation expense

153,131

136,643

Amortisation expense

50,000

-

Operating lease expense - property

3,013

49,845

Operating lease expense - plant and machinery

1,285

2,285

 

5

Exceptional items

Year ended 30 June 2024
 £

1 January 2022 to 30 June 2023
 £

Exceptional expenses

19,137

-

Exceptional items in the current year consist of non recurring expenses.

 

6

Other interest receivable and similar income

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Interest income on bank deposits

1,868

3,560

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

7

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Wages and salaries

3,691,253

4,205,006

Social security costs

287,925

307,065

Pension costs, defined contribution scheme

63,478

68,560

4,042,656

4,580,631

The average number of persons employed by the company (including the director) during the year, was as follows:

Year ended 30 June 2024
 No.

1 January 2022 to 30 June 2023
 No.

Average number of employees

141

154

 

8

Director's remuneration

The director's remuneration for the year was as follows:

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Remuneration

-

4,900

Director's remuneration for the current year has been fully borne by a related party.

 

9

Auditors' remuneration

Auditors' remuneration has been borne by a related party

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

10

Taxation

Tax charged/(credited) in the profit and loss account

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Current taxation

UK corporation tax

362,767

481,712

UK corporation tax adjustment to prior periods

(15,125)

(422)

347,642

481,290

Deferred taxation

Arising from origination and reversal of timing differences

-

16,366

Tax expense in the income statement

347,642

497,656

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 25% (2023 - 20.5%).

The differences are reconciled below:

Year ended 30 June 2024
£

1 January 2022 to 30 June 2023
£

Profit before tax

1,681,794

3,465,213

Corporation tax at standard rate

420,449

710,369

Deferred tax expense from unrecognised temporary difference from a prior period

-

16,366

Tax increase/(decrease) from effect of capital allowances and depreciation

34,562

(5,697)

Tax decrease arising from group relief

(92,244)

(222,960)

Other tax effects for reconciliation between accounting profit and tax expense (income)

(15,125)

(422)

Total tax charge

347,642

497,656

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

49,096

2023

Liability
£

Fixed asset timing differences

49,096

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

11

Intangible assets

Goodwill
 £

Cost

At 1 July 2023 and at 30 June 2024

500,000

Amortisation

At 1 July 2023

450,000

Amortisation charge

50,000

At 30 June 2024

500,000

Carrying amount

At 30 June 2024

-

At 30 June 2023

50,000

 

12

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 July 2023

6,161,561

437,556

132,874

6,731,991

Additions

95,605

20,655

5,080

121,340

Disposals

-

-

(6,900)

(6,900)

At 30 June 2024

6,257,166

458,211

131,054

6,846,431

Depreciation

At 1 July 2023

342,958

203,639

105,029

651,626

Charge for the year

120,372

25,522

7,237

153,131

Eliminated on disposal

-

-

(1,982)

(1,982)

At 30 June 2024

463,330

229,161

110,284

802,775

Carrying amount

At 30 June 2024

5,793,836

229,050

20,770

6,043,656

At 30 June 2023

5,818,603

233,917

27,845

6,080,365

 

13

Debtors

30 June 2024
 £

30 June 2023
 £

Trade debtors

528,712

447,268

Amounts owed by group undertakings

6,043,960

4,057,606

Other borrowings

28,510

28,510

Other debtors

-

7,404

Prepayments

440,752

450,377

 

7,041,934

4,991,165

 

Burrow Down Support Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

14

Creditors

Note

30 June 2024
 £

30 June 2023
 £

Due within one year

 

Loans and borrowings

15

4,384

4,384

Trade creditors

 

69,282

91,229

Social security and other taxes

 

66,316

55,682

Outstanding defined contribution pension costs

 

13,833

11,751

Other creditors

 

16,836

19,773

Accrued expenses

 

330,598

289,676

Corporation tax liability

10

826,413

481,712

 

1,327,662

954,207

 

15

Loans and borrowings

30 June 2024
£

30 June 2023
£

Current loans and borrowings

HP and finance lease liabilities

4,384

4,384

 

16

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £63,478 (2023 - £68,560).

Contributions totalling £13,833 (2023 - £11,751) were payable to the scheme at the end of the year and are included in creditors.

 

17

Share capital

Allotted, called up and fully paid shares

 

30 June 2024

30 June 2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

18

Contingent liabilities

The company is bound by an intra group cross guarantee in respect of bank debt with other members of the group headed by its ultimate parent undertaking, Precious Homes Essex Limited. The maximum amount the company could be liable for at 30 June 2024 is £15,750,000 (2023 - £15,950,000).

 

19

Parent and ultimate parent undertaking

The company's immediate parent is Precious Homes Essex Limited, incorporated in England and Wales.

 The ultimate controlling party is M G Dhanak.