Burnham Funeral Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05052778 (England and Wales)

Burnham Funeral Services Limited

Unaudited Financial Statements for the Year Ended 31 July 2019

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R J Marsh

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

05052778 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

HSBC Bank plc

PO Box 120

49 Corn Street

Bristol

BS99 7PP

FIXED ASSETS

Intangible assets

5

22,500

27,000

Tangible assets

6

258,491

285,866

280,991

312,866

CURRENT ASSETS

Stocks

3,917

3,522

Debtors

169,013

72,224

Cash at bank and in hand

3,896

2,341

176,826

78,087

CREDITORS

Amounts falling due within one year

276,229

288,790

NET CURRENT LIABILITIES

(99,403

)

(210,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

181,588

102,163

CREDITORS

Amounts falling due after more than one year

(127,757

)

(40,911

)

PROVISIONS FOR LIABILITIES

(16,957

)

(21,563

)

NET ASSETS

36,874

39,689

CAPITAL AND RESERVES

Called up share capital

125

125

Retained earnings

36,749

39,564

SHAREHOLDERS' FUNDS

36,874

39,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 9 December 2019 and were signed by:

R J Marsh - Director

1.	STATUTORY INFORMATION

Burnham Funeral Services Limited 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.	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 have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

and 31 July 2019

90,000

AMORTISATION

At 1 August 2018

63,000

Amortisation for year

4,500

At 31 July 2019

67,500

NET BOOK VALUE

At 31 July 2019

22,500

At 31 July 2018

27,000

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

549,221

Additions

1,718

At 31 July 2019

550,939

DEPRECIATION

At 1 August 2018

263,355

Charge for year

29,093

At 31 July 2019

292,448

NET BOOK VALUE

At 31 July 2019

258,491

At 31 July 2018

285,866

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 August 2018

317,590

Transfer to ownership

(213,000

)

At 31 July 2019

104,590

DEPRECIATION

At 1 August 2018

213,978

Charge for year

13,267

Transfer to ownership

(162,454

)

At 31 July 2019

64,791

NET BOOK VALUE

At 31 July 2019

39,799

At 31 July 2018

103,612

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.7.19

31.7.18

£

£

Net obligations repayable:

Within one year

22,258

31,404

Between one and five years

8,799

31,057

31,057

62,461

Non-cancellable

operating leases

31.7.19

31.7.18

£

£

Within one year

10,314

10,314

Between one and five years

25,988

36,302

36,302

46,616

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.19

31.7.18

£

£

Bank overdrafts

38,719

82,466

Bank loans

124,093

23,923

Other loans

92,570

-

Hire purchase contracts

31,057

62,461

286,439

168,850

The bank borrowings are secured by personal guarantees given by the director, R J Marsh.

Hire purchase agreements are secured on the assets to which they relate.

The Iwoca Ltd loan is secured by a personal guarantee given by the director, R J Marsh.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2019 and

31 July 2018:

31.7.19

31.7.18

£

£

R J Marsh

Balance outstanding at start of year

(90

)

(364

)

Amounts advanced

338,148

182,274

Amounts repaid

(223,500

)

(182,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

114,558

(90

)

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R J Marsh.