Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-3118falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falseprovision of mortgage services17truetrue 09133942 2023-08-01 2024-07-31 09133942 2022-08-01 2023-07-31 09133942 2024-07-31 09133942 2023-07-31 09133942 c:Director1 2023-08-01 2024-07-31 09133942 c:RegisteredOffice 2023-08-01 2024-07-31 09133942 d:OfficeEquipment 2023-08-01 2024-07-31 09133942 d:OfficeEquipment 2024-07-31 09133942 d:OfficeEquipment 2023-07-31 09133942 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09133942 d:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 09133942 d:OtherPropertyPlantEquipment 2024-07-31 09133942 d:OtherPropertyPlantEquipment 2023-07-31 09133942 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09133942 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09133942 d:CurrentFinancialInstruments 2024-07-31 09133942 d:CurrentFinancialInstruments 2023-07-31 09133942 d:Non-currentFinancialInstruments 2024-07-31 09133942 d:Non-currentFinancialInstruments 2023-07-31 09133942 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 09133942 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09133942 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 09133942 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 09133942 d:ShareCapital 2024-07-31 09133942 d:ShareCapital 2023-07-31 09133942 d:SharePremium 2024-07-31 09133942 d:SharePremium 2023-07-31 09133942 d:RetainedEarningsAccumulatedLosses 2024-07-31 09133942 d:RetainedEarningsAccumulatedLosses 2023-07-31 09133942 c:OrdinaryShareClass1 2023-08-01 2024-07-31 09133942 c:OrdinaryShareClass1 2024-07-31 09133942 c:OrdinaryShareClass1 2023-07-31 09133942 c:OrdinaryShareClass2 2023-08-01 2024-07-31 09133942 c:OrdinaryShareClass2 2024-07-31 09133942 c:OrdinaryShareClass2 2023-07-31 09133942 c:OrdinaryShareClass3 2023-08-01 2024-07-31 09133942 c:OrdinaryShareClass3 2024-07-31 09133942 c:OrdinaryShareClass3 2023-07-31 09133942 c:FRS102 2023-08-01 2024-07-31 09133942 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09133942 c:FullAccounts 2023-08-01 2024-07-31 09133942 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09133942 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-01 2024-07-31 09133942 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-07-31 09133942 2 2023-08-01 2024-07-31 09133942 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09133942










VINCENT BURCH LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
VINCENT BURCH LTD
 
 
COMPANY INFORMATION


Director
V Burch 




Registered number
09133942



Registered office
48-52 Surrey Street
Norfolk Tower

Norwich

NR1 3PA




Accountants
MA Partners LLP

7 The Close

Chartered Accountants

Norwich

Norfolk

NR1 4DJ





 
VINCENT BURCH LTD
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 11


 
VINCENT BURCH LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VINCENT BURCH LTD
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vincent Burch Ltd for the year ended 31 July 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the director of Vincent Burch Ltd in accordance with the terms of our engagement letter dated 23 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of Vincent Burch Ltd and state those matters that we have agreed to state to the director of Vincent Burch Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vincent Burch Ltd and its director for our work or for this report. 

It is your duty to ensure that Vincent Burch Ltd 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 profit of Vincent Burch Ltd. You consider that Vincent Burch Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Vincent Burch Ltd. 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.

  



MA Partners LLP
 
7 The Close
Chartered Accountants
Norwich
Norfolk
NR1 4DJ
22 April 2025
Page 1

 
VINCENT BURCH LTD
REGISTERED NUMBER: 09133942

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,201
16,288

  
14,201
16,288

Current assets
  

Debtors: amounts falling due within one year
 5 
311,458
288,216

Cash at bank and in hand
  
28,000
90,602

  
339,458
378,818

Creditors: amounts falling due within one year
 6 
(232,668)
(229,961)

Net current assets
  
 
 
106,790
 
 
148,857

Total assets less current liabilities
  
120,991
165,145

Creditors: amounts falling due after more than one year
 7 
(14,167)
(24,166)

Provisions for liabilities
  

Deferred tax
  
(3,550)
(4,072)

  
 
 
(3,550)
 
 
(4,072)

Net assets
  
103,274
136,907


Capital and reserves
  

Called up share capital 
 8 
105
105

Share premium account
  
495
495

Profit and loss account
  
102,674
136,307

  
103,274
136,907


Page 2

 
VINCENT BURCH LTD
REGISTERED NUMBER: 09133942
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 April 2025.




V Burch
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Vincent Burch Ltd, trading as Vincent Burch Mortgage Services, is a private Company limited by shares.  It is both incorporated and domiciled in England and Wales.
The registered office is 48-52 Surrey Street, Norfolk Tower, Norwich, NR1 3PA.
The Companys principal activity is the provision of mortgage services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.


Office equipment
-
20%
straight line
Property improvements
-
5%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

 
2.13

Financial instruments

Enter text here - user input
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 6

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted
Page 7

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

where the effect of discounting is immaterial.

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

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



Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







17
18

Page 8

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Office equipment
Property Improvements
Total

£
£
£



Cost or valuation


At 1 August 2023
38,300
5,238
43,538


Additions
3,539
-
3,539



At 31 July 2024

41,839
5,238
47,077



Depreciation


At 1 August 2023
26,279
972
27,251


Charge for the year on owned assets
5,413
213
5,626



At 31 July 2024

31,692
1,185
32,877



Net book value



At 31 July 2024
10,147
4,053
14,200



At 31 July 2023
12,021
4,266
16,287

Page 9

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
201,302
182,697

Other debtors
66,210
85,971

Prepayments and accrued income
43,946
19,548

311,458
288,216



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,001

Trade creditors
90,345
59,128

Other taxation and social security
39,154
92,962

Other creditors
1,259
1,984

Accruals and deferred income
91,910
65,886

232,668
229,961



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,167
24,166

14,167
24,166



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



95 (2023 - 95) A Ordinary shares shares of £1.00 each
95
95
5 (2023 - 5) B Ordinary shares shares of £1.00 each
5
5
5 (2023 - 5) C Ordinary shares shares of £1.00 each
5
5

105

105


Page 10

 
VINCENT BURCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.Other financial commitments

As at 31 July 2024 the company owed pension contributions of £1,259 (2023 - £1,984), and this amount is included within other creditors on note 6 of the accounts.


10.


Transactions with directors

At 31 July 2023, the balance owed to the Company from the director was £42,528.  The balance is interest free, repayable on demand and included within note 5, other debtors, to the financial statements.
During the year advances totalling £ 104,493 were made and repayments totalled £ 125,511.
At 31 July 2024, the balance owed by the director to the Company was £ 21,510.  The balance is repayable on demand and included within note 5, other debtors, to the financial statements. Interest has been charged on the overdrawn amount.

 
Page 11