Burley Consultants (South West) Limited - Period Ending 2020-01-31

Burley Consultants (South West) Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 6

Burley Consultants (South West) Limited

Company Information

Director

Mr D Burley

Registered office

6 Houndiscombe Road Plymouth Devon PL4 6HH

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Burley Consultants (South West) Limited
for the Year Ended 31 January 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Burley Consultants (South West) Limited for the year ended 31 January 2020 as set out on pages 3 to 6 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Burley Consultants (South West) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Burley Consultants (South West) Limited. You consider that Burley Consultants (South West) 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 accounts of Burley Consultants (South West) 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

4 November 2020

Burley Consultants (South West) Limited

(Registration number: 07124669)
Balance Sheet as at 31 January 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	5	124	243
Current assets
Debtors	6	24,356	17,515
Cash at bank and in hand		2,691	2,179
		27,047	19,694
Creditors: Amounts falling due within one year	7	(9,271)	(8,801)
Net current assets		17,776	10,893
Net assets		17,900	11,136
Capital and reserves
Called up share capital		700	700
Profit and loss account		17,200	10,436
Shareholders' funds		17,900	11,136

For the financial year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 4 November 2020
 

.........................................

Mr D Burley
Director

Burley Consultants (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

1	General information

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, taking into account the impact on the business caused by the Coronavirus ourbreak. To cope with the pandemic, the business accessed the relevant emergency government support available, to help it through the lockdown and expects to be in a position to commence normal trading, once the peak of he crisis has passed.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line

Burley Consultants (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

4	Profit before tax

Arrived at after charging/(crediting)

	2020 £	2019 £
Depreciation expense	119	273

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 February 2019	3,518	3,518
At 31 January 2020	3,518	3,518
Depreciation
At 1 February 2019	3,275	3,275
Charge for the year	119	119
At 31 January 2020	3,394	3,394
Carrying amount
At 31 January 2020	124	124
At 31 January 2019	243	243

6

Debtors

	2020 £	2019 £
Other debtors	24,356	17,515
	24,356	17,515

Burley Consultants (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

7

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Taxation and social security	7,413	7,033
Accruals and deferred income	1,858	1,768
	9,271	8,801

8	Related party transactions

During the year the company made advances totalling £42,728, to directors, this amount was partly repaid during the year and the balance outstanding at the year end was £22,211. This amount is included in debtors due within 1 year.

The maximum overdrawn balance during the year was £22,211. Interest of 2.5% is charged on any overdrawn balance. Total interest of £321 was charged to the director in the year.