1 January 2024 v2025.59.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP046199972024-01-012024-12-31046199972024-12-31046199972023-12-3104619997core:WithinOneYear2024-12-3104619997core:WithinOneYear2023-12-3104619997core:AfterOneYear2024-12-3104619997core:AfterOneYear2023-12-3104619997core:ShareCapital2024-12-3104619997core:ShareCapital2023-12-3104619997core:RetainedEarningsAccumulatedLosses2024-12-3104619997core:RetainedEarningsAccumulatedLosses2023-12-3104619997bus:Director12024-01-012024-12-3104619997bus:RegisteredOffice2024-01-012024-12-3104619997core:PlantMachinery2024-01-012024-12-31046199972023-01-012023-12-3104619997core:LandBuildings2024-01-0104619997core:PlantMachinery2024-01-01046199972024-01-0104619997core:LandBuildings2024-12-3104619997core:PlantMachinery2024-12-3104619997core:LandBuildings2024-01-012024-12-3104619997core:LandBuildings2023-12-3104619997core:PlantMachinery2023-12-310461999712024-01-012024-12-3104619997countries:EnglandWales2024-01-012024-12-3104619997bus:AuditExemptWithAccountantsReport2024-01-012024-12-3104619997bus:PrivateLimitedCompanyLtd2024-01-012024-12-3104619997bus:SmallEntities2024-01-012024-12-3104619997bus:FullAccounts2024-01-012024-12-31
Company registration number:
04619997
David Burnell Financial Services Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
David Burnell Financial Services Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of David Burnell Financial Services Limited
Year ended
31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
David Burnell Financial Services Limited
for the year ended
31 December 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
David Burnell Financial Services Limited
, as a body, in accordance with the terms of my engagement letter dated 14 January 2025. My work has been undertaken solely to prepare for your approval the
financial statements
of
David Burnell Financial Services Limited
and state those matters that I have agreed to state to the Board of Directors of
David Burnell Financial Services Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
David Burnell Financial Services Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
David Burnell Financial Services Limited
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
David Burnell Financial Services Limited
. You consider that
David Burnell Financial Services Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of David Burnell Financial Services Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
West Bridgford Accountancy Limited
Chartered Accountant
43 Edward Road
West Bridgford
Nottingham
Nottinghamshire
NG2 5GE
United Kingdom
Date:
10 September 2025
David Burnell Financial Services Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
13,089
 
14,780
 
Current assets    
Debtors 6
911,160
 
845,751
 
Cash at bank and in hand
74,984
 
44,523
 
986,144
 
890,274
 
Creditors: amounts falling due within one year 7
(195,290
 )
(191,898
 )
Net current assets
790,854
 
698,376
 
Total assets less current liabilities 803,943   713,156  
Creditors: amounts falling due after more than one year 8
(527,702
 )
(481,004
 )
Provisions for liabilities
(3,272
 )
(3,917
 )
Net assets
272,969
 
228,235
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
272,869
 
228,135
 
Shareholders funds
272,969
 
228,235
 
For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
10 September 2025
, and are signed on behalf of the board by:
D Hinch
Director
Company registration number:
04619997
David Burnell Financial Services Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
43 Edward Road
,
West Bridgford
,
Nottingham
,
NG2 5GE
, England.

2 Statement of compliance

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

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents commissions receivable during the year.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance and 20% reducing balance

Financial instruments

Basic financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in profit and loss.
Basic financial liabilities
Loans and borrowings are initially recognised at the transaction price including transaction costs.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2023:
5
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
22,020
 
30,599
 
52,619
 
Additions -  
4,463
 
4,463
 
Disposals -  
(8,692
 )
(8,692
 )
At
31 December 2024
22,020
 
26,370
 
48,390
 
Depreciation      
At
1 January 2024
15,935
 
21,904
 
37,839
 
Charge
1,216
 
2,335
 
3,551
 
Disposals -  
(6,089
 )
(6,089
 )
At
31 December 2024
17,151
 
18,150
 
35,301
 
Carrying amount      
At
31 December 2024
4,869
 
8,220
 
13,089
 
At 31 December 2023
6,085
 
8,695
 
14,780
 

6 Debtors

20242023
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
905,897
 
839,508
 
Other debtors
5,263
 
6,243
 
911,160
 
845,751
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
797,897
 
734,508
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,397
 
10,000
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
134,000
 
151,000
 
Taxation and social security
47,039
 
27,803
 
Other creditors
3,854
 
3,095
 
195,290
 
191,898
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
4,409
 
14,946
 
Other creditors
523,293
 
466,058
 
527,702
 
481,004
 

10 Controlling party

The company is wholly owned by David Burnell Wealth Management Limited. The holding company is owned jointly by four companies controlled by the Directors, no one individual can be considered to have overall control.