Burton Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05215425 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Burton Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J H Burton

A W R Burton

SECRETARY:

A W R Burton

REGISTERED OFFICE:

12 West Links

Tollgate

Chandlers Ford

Hampshire

SO53 3TG

REGISTERED NUMBER:

05215425 (England and Wales)

ACCOUNTANTS:

Talbot Accounting Solutions LLP

Bartley Cottage

Ringwood Road

Bartley

Southampton

Hampshire

SO40 7LD

FIXED ASSETS

Tangible assets

4

53,363

64,094

Investment property

5

2,808,090

2,638,874

2,861,453

2,702,968

CURRENT ASSETS

Debtors

6

33,670

32,920

Cash at bank

698,496

679,153

732,166

712,073

CREDITORS

Amounts falling due within one year

7

82,746

104,477

NET CURRENT ASSETS

649,420

607,596

TOTAL ASSETS LESS CURRENT LIABILITIES

3,510,873

3,310,564

PROVISIONS FOR LIABILITIES

24,711

433

NET ASSETS

3,486,162

3,310,131

CAPITAL AND RESERVES

Called up share capital

8

120

120

Retained earnings

3,486,042

3,310,011

SHAREHOLDERS' FUNDS

3,486,162

3,310,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2021 and were signed on its behalf by:

A W R Burton - Director

1.	STATUTORY INFORMATION

Burton Property 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Going concern

These financial statements are prepared on a going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The ongoing Covid-19 pandemic does not alter this expectation.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. if any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2020

and 31 August 2021

98,952

21,545

120,497

DEPRECIATION

At 1 September 2020

37,138

19,265

56,403

Charge for year

9,895

836

10,731

At 31 August 2021

47,033

20,101

67,134

NET BOOK VALUE

At 31 August 2021

51,919

1,444

53,363

At 31 August 2020

61,814

2,280

64,094

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

2,638,874

Revaluations

169,216

At 31 August 2021

2,808,090

NET BOOK VALUE

At 31 August 2021

2,808,090

At 31 August 2020

2,638,874

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

25,679

25,325

Other debtors

7,991

7,595

33,670

32,920

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade creditors

24

743

Taxation and social security

32,773

49,822

Other creditors

49,949

53,912

82,746

104,477

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

41

Ordinary A shares

£1

41

41

39

Ordinary B shares

£1

39

39

80

80

Allotted and issued:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

20

Share capital 3

£1

20

20

20

Share capital 4

£1

20

20

40

40

Ordinary A shares and B shares carry the right to receive notice of, to be present and speak at and to vote either in person or by proxy, at any general meeting of the Company or by way of written resolution.

Ordinary C shares and D shares shall not carry the right to receive notice of, to be present and speak at and to vote, wither in person or by proxy, at any general meeting of the Company or by way of written resolution.