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REGISTERED NUMBER: NI067972 (Northern Ireland)















BURROWS ENGINEERING LIMITED

Unaudited Financial Statements for the Year Ended 31 August 2024






BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BURROWS ENGINEERING LIMITED

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: John Burrows
Rachel Burrows





REGISTERED OFFICE: 69 Cookstown Road
Dungannon
Co. Tyrone
BT71 4BR





REGISTERED NUMBER: NI067972 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Statement of Financial Position
31 AUGUST 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 418,313 452,469
418,313 452,469

CURRENT ASSETS
Inventories 7 103,828 106,857
Receivables: amounts falling due within
one year

8

370,736

265,714
Cash at bank 300,245 318,428
774,809 690,999
PAYABLES
Amounts falling due within one year 9 (329,812 ) (284,362 )
NET CURRENT ASSETS 444,997 406,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

863,310

859,106

PROVISIONS FOR LIABILITIES 10 (33,538 ) (27,511 )

GOVERNMENT GRANTS (34,851 ) (41,001 )
NET ASSETS 794,921 790,594

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 17,567 17,567
Retained earnings 777,352 773,025
SHAREHOLDERS' FUNDS 794,921 790,594

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Statement of Financial Position - continued
31 AUGUST 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





John Burrows - Director


BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Burrows Engineering Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. 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.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Land & Freehold property- Nil / 4% Straight Line
Plant and machinery- 15% Reducing Balance
Motor vehicles- 25% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition.

Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 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.

BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 121,840
AMORTISATION
At 1 September 2023
and 31 August 2024 121,840
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
COST
At 1 September 2023 106,794 694,600 88,175 889,569
Additions - 30,269 - 30,269
At 31 August 2024 106,794 724,869 88,175 919,838
DEPRECIATION
At 1 September 2023 24,501 343,661 68,938 437,100
Charge for year 2,435 57,181 4,809 64,425
At 31 August 2024 26,936 400,842 73,747 501,525
NET BOOK VALUE
At 31 August 2024 79,858 324,027 14,428 418,313
At 31 August 2023 82,293 350,939 19,237 452,469

7. INVENTORIES
2024 2023
£ £
Inventories 40,029 49,301
Work-in-progress 63,799 57,556
103,828 106,857

8. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 286,002 180,980
Amounts owed by group undertakings 84,734 84,734
370,736 265,714

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans & overdrafts 238 7
Trade payables 108,335 135,217
Taxation & social security 78,682 32,655
Other payables 142,557 116,483
329,812 284,362

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 33,538 27,511

Deferred tax
£
Balance at 1 September 2023 27,511
Provided during year 6,027
Balance at 31 August 2024 33,538

BURROWS ENGINEERING LIMITED (REGISTERED NUMBER: NI067972)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 1 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 August 2024 the amount owed by the company to the directors was £37,436 (2023: £36,783).