Burton Residential Limited |
Registered number: |
14213713 |
Balance Sheet |
at 31 December 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
2,139,859 |
|
|
2,139,859 |
|
Current assets |
Debtors |
4 |
|
1,120 |
|
|
946 |
Cash at bank and in hand |
|
|
14,541 |
|
|
9,303 |
|
|
|
15,661 |
|
|
10,249 |
|
Creditors: amounts falling due within one year |
5 |
|
(19,302) |
|
|
(17,803) |
|
Net current liabilities |
|
|
|
(3,641) |
|
|
(7,554) |
|
Total assets less current liabilities |
|
|
|
2,136,218 |
|
|
2,132,305 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(1,944,793) |
|
|
(1,971,850) |
|
|
|
Net assets |
|
|
|
191,425 |
|
|
160,455 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
200,000 |
|
|
200,000 |
Profit and loss account |
|
|
|
(8,575) |
|
|
(39,545) |
|
Shareholder's funds |
|
|
|
191,425 |
|
|
160,455 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Brian Robert Burton |
Director |
Approved by the board on 14 April 2025 |
|
Burton Residential Limited |
Notes to the Financial Statements |
for the year ended 31 December 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£). |
|
|
Turnover |
|
Turnover is measured at the fair value of the rent received or receivable. Turnover includes revenue earned from the letting of residential property by reference to the period covered by the rental received. |
|
|
Tangible fixed assets |
|
Land and buildings, being an investment property, is measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is determined by the directors and supported by qualified valuers. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
|
|
Creditors |
|
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 January 2024 |
2,139,859 |
|
At 31 December 2024 |
2,139,859 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
2,139,859 |
|
At 31 December 2023 |
2,139,859 |
|
|
|
|
|
|
|
|
|
|
Land and buildings were last valued in August 2022. |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
900 |
|
280 |
|
Prepayments and accrued income |
220 |
|
666 |
|
|
|
|
|
|
1,120 |
|
946 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
2,644 |
|
5,413 |
|
Other creditors |
8,559 |
|
6,213 |
|
Accruals and deferred income |
8,099 |
|
6,177 |
|
|
|
|
|
|
19,302 |
|
17,803 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
1,054,343 |
|
1,054,400 |
|
Owed to connected companies |
|
890,450 |
|
899,389 |
|
Other creditors |
- |
|
18,061 |
|
|
|
|
|
|
1,944,793 |
|
1,971,850 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
1,054,343 |
|
1,054,400 |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
1,054,343 |
|
1,054,400 |
|
|
|
|
|
|
|
|
|
|
The loans carry interest mostly at a fixed rate of 4.24% for 5 years and are interest only. |
|
|
8 |
Other information |
|
|
Burton Residential Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 5 Edison Road |
|
Somersham Road Industrial Estate |
|
St Ives |
|
Cambridgeshire |
|
PE27 3FF |