ACCOUNTS - Final Accounts preparation

BURLEIGH STREET PUBLISHING LIMITED - Company Information

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Registered number: 08622998

BURLEIGH STREET PUBLISHING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2021

BURLEIGH STREET PUBLISHING LIMITED

REGISTERED NUMBER: 08622998

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	5		4,667		-
Current assets
Stocks	6	25,421		3,838
Debtors: amounts falling due within one year	7	4,444		523
Cash at bank and in hand		825		14,612
		30,690		18,973
Creditors: amounts falling due within one year	8	(38,747)		(20,000)
Net current liabilities			(8,057)		(1,027)
Total assets less current liabilities			(3,390)		(1,027)

Net liabilities			(3,390)		(1,027)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(3,391)	(1,028)
	(3,390)	(1,027)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 January 2022.

R Gubbay

Director

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BURLEIGH STREET PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

1.	General information

Burleigh Street Publishing Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

The company is showing net liabilities, at the reporting date. In order to continue trading it is dependent on the continued financial support of its sole shareholder and sole director, Mr R Gubbay, who has confirmed his intention to continue to support the company for the foreseeable future.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.

2.3

Functional and presentation currency

The Company's functional and presentational currency is GBP.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Stocks - Book production costs

Stocks comprise costs incurred in the production of books, which are stated at the lower of cost and estimated net realisable value.

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BURLEIGH STREET PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of the estimation means that actual outcomes could differ from those estimates.
Book production costs

Book production costs are held as a current asset on the statement of financial position and are amortised over the expected revenue from the date the book is published.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that are due for payment.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

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BURLEIGH STREET PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	4,800
	At 31 July 2021	4,800
	Depreciation
	Charge for the year on owned assets	133
	At 31 July 2021	133
	Net book value
	At 31 July 2021	4,667
	At 31 July 2020	-

6.	Stocks - Book production costs
		2021	2020
		£	£

	Book production costs	25,421	3,838

Debtors

					2021	2020
					£	£


Other debtors	1,900	523
Prepayments and accrued income	2,544	-
	4,444	523

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BURLEIGH STREET PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

8.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

	Other creditors	38,747	20,000

9.	Related party transactions
	At the reporting date, the company owed Mr R Gubbay, £38,747 (2020: £20,000), which is included in other creditors. The balance was provided interest free and is repayable on demand. There were no further transactions with related parties that are material and have not been conducted under normal market conditions.

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