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REGISTERED NUMBER: 12134982 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Burford Young Properties Ltd

Burford Young Properties Ltd (Registered number: 12134982)

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


Burford Young Properties Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R J Burford
N L Young



REGISTERED OFFICE: Unit 10 Capitol Park
Pearce Way
Gloucester
GL2 5YD



REGISTERED NUMBER: 12134982 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Starling Bank
3rd Floor, 2 Finsbury Avenue
London
EC2M 2PP

Burford Young Properties Ltd (Registered number: 12134982)

Statement of Financial Position
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 8,143 7,488
Investment property 5 1,489,417 900,000
1,497,560 907,488

CURRENT ASSETS
Debtors 6 2,265 1,276
Cash at bank 1,918 1,627
4,183 2,903
CREDITORS
Amounts falling due within one year 7 658,903 349,307
NET CURRENT LIABILITIES (654,720 ) (346,404 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

842,840

561,084

CREDITORS
Amounts falling due after more than one
year

8

(663,802

)

(421,617

)

PROVISIONS FOR LIABILITIES 10 (46,644 ) (36,072 )
NET ASSETS 132,394 103,395

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 219,640 162,542
Retained earnings (87,248 ) (59,149 )
SHAREHOLDERS' FUNDS 132,394 103,395

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.

Burford Young Properties Ltd (Registered number: 12134982)

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 22 May 2025 and were signed on its behalf by:





N L Young - Director


Burford Young Properties Ltd (Registered number: 12134982)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Burford Young Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income due for the accounting period from the investment property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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.

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.

Going concern
Despite net current liabilities of £654,720 (2023 - £346,404) at 31 August 2024 the accounts have been prepared on a going concern basis. The directors have reviewed the future cashflows of the company and have expressed their willingness to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate.

3. EMPLOYEES AND DIRECTORS

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

Burford Young Properties Ltd (Registered number: 12134982)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
At 1 September 2023 11,084
Additions 3,370
At 31 August 2024 14,454
Depreciation
At 1 September 2023 3,596
Charge for year 2,715
At 31 August 2024 6,311
Net book value
At 31 August 2024 8,143
At 31 August 2023 7,488

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2023 900,000
Additions 513,286
Revaluations 76,131
At 31 August 2024 1,489,417
Net book value
At 31 August 2024 1,489,417
At 31 August 2023 900,000

If investment properties had not been revalued they would have been included at the historical cost of
£1,196,562 (2023 - £683,277).

The directors have reviewed the local property market, made enquiries with local agents and considered the property valuations for mortgage purposes to determine the fair value value of the investment properties. Based upon this review, the fair value of investment property has increased during the year as shown above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Other debtors 2,265 1,276

Burford Young Properties Ltd (Registered number: 12134982)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade creditors 70 -
Other creditors 658,833 349,307
658,903 349,307

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 663,802 421,617

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 663,802 421,617

9. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Bank loans 663,802 421,617
Other loans 121,526 -
785,328 421,617

The bank loans (mortgages) are secured by way of fixed charges over the company's investment properties.

The other loan is secured by way of a fixed charge over one of the company's investment properties and floating charges over the company's other assets. In addition, the directors have provided personal guarantees as loan security.

10. PROVISIONS FOR LIABILITIES
31/8/24 31/8/23
£    £   
Deferred tax
Tax losses carried forward (26,570 ) (18,109 )
Other timing differences 73,214 54,181
46,644 36,072

Burford Young Properties Ltd (Registered number: 12134982)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 36,072
Provided during year 10,572
Balance at 31 August 2024 46,644

11. RELATED PARTY DISCLOSURES

Burford Young Ltd
A company controlled by the directors N L Young and R J Burford

Included in other creditors is a loan from Burford Young Ltd of £401,107 (2023 - £207,644). The loan is interest free with no fixed repayment terms.

N L Young
Director

At 31 August 2024, the company owed the director N L Young £25,000 (2023 - £10,254).

R J Burford
Director

At 31 August 2024, the company owed the director R J Burford £Nil (2023 - £10,208).

In addition, a close family member of R J Burford has loaned money to Burford Young Properties Ltd. At 31 August 2024, the loan outstanding was £110,000 (2023 - £120,000). The loan is interest free with no fixed repayment terms.

The loans from the directors are interest free and have no fixed repayment terms.

12. POST BALANCE SHEET EVENTS

Following the accounting year end date, the company took out two additional bank loans (mortgages) secured upon two of the company's investment properties.