Burningfold Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03842504 (England and Wales)

BURNINGFOLD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr R J Muddle

Mr W A Parker

Mr H R Muddle

SECRETARY:

Mr W A Parker

REGISTERED OFFICE:

Burningfold Manor

Plaistow Road,

Dunsfold

Surrey

GU8 4PF

REGISTERED NUMBER:

03842504 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

Landgate Chambers

24 Landgate

Rye

East Sussex

TN31 7LJ

FIXED ASSETS

Tangible assets

4

3,372,102

3,375,443

CURRENT ASSETS

Stocks

8,580

8,700

Debtors

5

51,589

39,458

Cash at bank

77,174

113,148

137,343

161,306

CREDITORS

Amounts falling due within one year

6

99,071

102,810

NET CURRENT ASSETS

38,272

58,496

TOTAL ASSETS LESS CURRENT LIABILITIES

3,410,374

3,433,939

CREDITORS

Amounts falling due after more than one year

7

1,564,796

1,512,504

NET ASSETS

1,845,578

1,921,435

CAPITAL AND RESERVES

Called up share capital

8

3,550,000

3,550,000

Retained earnings

(1,704,422

)

(1,628,565

)

SHAREHOLDERS' FUNDS

1,845,578

1,921,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 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 30 June 2020 and were signed on its behalf by:

Mr R J Muddle - Director

1.	STATUTORY INFORMATION

Burningfold 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.

Turnover

Turnover represents net invoiced sales, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

25% on cost, 2% on cost and Land - nil

Plant and machinery

-

15% on reducing balance

Polo ponies

-

14% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet 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

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.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the

company will receive financial support from one of its directors. The director has indicated that he

will continue to provide this support for the foreseeable future. The financial statements do not

include any adjustments that would result from a withdrawal of support by the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

3,829,678

360,016

4,189,694

Additions

33,388

52,380

85,768

At 30 September 2019

3,863,066

412,396

4,275,462

DEPRECIATION

At 1 October 2018

552,022

262,229

814,251

Charge for year

61,529

27,580

89,109

At 30 September 2019

613,551

289,809

903,360

NET BOOK VALUE

At 30 September 2019

3,249,515

122,587

3,372,102

At 30 September 2018

3,277,656

97,787

3,375,443

Included in cost of land and buildings is freehold land of £ 1,061,252 (2018 - £ 1,061,252 ) which

is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

16,545

23,642

Other debtors

35,044

15,816

51,589

39,458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

12,407

Trade creditors

28,186

56,383

Taxation and social security

1,066

16,828

Other creditors

69,819

17,192

99,071

102,810

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

1,564,796

1,512,504

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

3,550,000

Ordinary

£1

3,550,000

3,550,000