Burley Developments Group Limited - Accounts to registrar (filleted) - small 18.2

Burley Developments Group Limited - Accounts to registrar (filleted) - small 18.2

BURLEY DEVELOPMENTS GROUP LIMITED - Company Information

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REGISTERED NUMBER: 07101655 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Burley Developments Group Limited
Burley Developments Group Limited (Registered number: 07101655)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Burley Developments Group Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: M J Smith
PR Turner
Mrs J L Smith





REGISTERED OFFICE: 12 Wells Promenade
Ilkley
West Yorkshire
LS29 9LF





REGISTERED NUMBER: 07101655 (England and Wales)





ACCOUNTANTS: Baker Fox Limited
Chartered Accountants
Owl Cotes Barn
Low Lane
Cowling
Keighley
West Yorkshire
BD22 0LE
Page 1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Burley Developments Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Burley Developments Group Limited for the year ended 31 March 2022 which comprise the Income Statement, Statement of Financial Position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Burley Developments Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Burley Developments Group Limited and state those matters that we have agreed to state to the Board of Directors of Burley Developments Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burley Developments Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Burley Developments Group 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 Burley Developments Group Limited. You consider that Burley Developments Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Burley Developments Group Limited. 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.






Baker Fox Limited
Chartered Accountants
Owl Cotes Barn
Low Lane
Cowling
Keighley
West Yorkshire
BD22 0LE


23 August 2022

This page does not form part of the statutory financial statements

Page 2
Burley Developments Group Limited (Registered number: 07101655)

Statement of Financial Position
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,610 25,901
Investments 5 1,334 1,334
Investment property 6 1,735,950 1,405,950
1,755,894 1,433,185

CURRENT ASSETS
Stocks 1,806,278 1,343,443
Debtors 7 139,652 580,694
Cash at bank 25,831 264,170
1,971,761 2,188,307
CREDITORS
Amounts falling due within one year 8 524,663 421,032
NET CURRENT ASSETS 1,447,098 1,767,275
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,202,992
3,200,460

CREDITORS
Amounts falling due after more than one year 9 (1,300,000 ) (1,300,000 )

PROVISIONS FOR LIABILITIES (3,536 ) (4,921 )
NET ASSETS 1,899,456 1,895,539

CAPITAL AND RESERVES
Called up share capital 1,300,100 1,300,100
Retained earnings 599,356 595,439
SHAREHOLDERS' FUNDS 1,899,456 1,895,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

The notes form part of these financial statements

Page 3 continued...
Burley Developments Group Limited (Registered number: 07101655)

Statement of Financial Position - continued
31 March 2022


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 23 August 2022 and were signed on its behalf by:





M J Smith - Director


The notes form part of these financial statements

Page 4
Burley Developments Group Limited (Registered number: 07101655)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Burley Developments Group 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Burley Developments Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss.

In order to ascertain the fair value, investment properties are valued using open market valuation on a freehold basis. Revaluations are conducted annually by the directors, who consider themselves sufficiently experienced to carry out these revaluations.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.


Page 5 continued...
Burley Developments Group Limited (Registered number: 07101655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 60,771
Additions 2,382
At 31 March 2022 63,153
DEPRECIATION
At 1 April 2021 34,870
Charge for year 9,673
At 31 March 2022 44,543
NET BOOK VALUE
At 31 March 2022 18,610
At 31 March 2021 25,901

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 1,334
NET BOOK VALUE
At 31 March 2022 1,334
At 31 March 2021 1,334

Page 6 continued...
Burley Developments Group Limited (Registered number: 07101655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 1,405,950
Transfer from stock 450,000
Disposals (120,000 )
At 31 March 2022 1,735,950
NET BOOK VALUE
At 31 March 2022 1,735,950
At 31 March 2021 1,405,950

Investment properties were valued by the directors on 31 March 2022 on an open market value. If the investment properties had not been valued, they would have been included on the historical cost basis at £1,735,950 (2021: £1,405,950).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,133 4,815
Amounts owed by group undertakings 103,890 111,490
Other debtors 28,629 464,389
139,652 580,694

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 59,306 65,743
Taxation and social security 24,521 45,584
Other creditors 440,836 309,705
524,663 421,032

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 1,300,000 1,300,000

Page 7 continued...
Burley Developments Group Limited (Registered number: 07101655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. RELATED PARTY DISCLOSURES

The company has been provided with a loan from a shareholder, Fortlands Limited, a company wholly owned by Mr PR Turner, a director of the company. At the balance sheet date there was a fixed loan of £1,300,000 (2021: £1,300,000). The loan is included in creditors falling due after more than one year.

In addition, there was a further amount of £41,962 due to Fortlands Limited at the balance sheet date.

Interest was payable at commercial rates on the loans.

During the year the company charged £175,000 (2021 £175,000) to Fortlands Limited for agency and management services. These amounts are included in turnover.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

Page 8