Alexander Bursk Limited 31/10/2022 iXBRL

Alexander Bursk Limited 31/10/2022 iXBRL

ALEXANDER BURSK LIMITED - Company Information

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31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2021-11-01 Sage Accounts Production 21.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 08021691 2021-11-01 2022-10-31 08021691 2022-10-31 08021691 2021-10-31 08021691 2020-11-01 2021-10-31 08021691 2021-10-31 08021691 core:NetGoodwill 2021-11-01 2022-10-31 08021691 core:PlantMachinery 2021-11-01 2022-10-31 08021691 core:FurnitureFittingsToolsEquipment 2021-11-01 2022-10-31 08021691 core:OnerousContractsExcludingVacantProperties 2021-11-01 2022-10-31 08021691 bus:RegisteredOffice 2021-11-01 2022-10-31 08021691 bus:Director1 2021-11-01 2022-10-31 08021691 bus:Director2 2021-11-01 2022-10-31 08021691 bus:Director3 2021-11-01 2022-10-31 08021691 bus:Director4 2021-11-01 2022-10-31 08021691 core:WithinOneYear 2022-10-31 08021691 core:WithinOneYear 2021-10-31 08021691 core:AfterOneYear 2022-10-31 08021691 core:AfterOneYear 2021-10-31 08021691 core:ShareCapital 2022-10-31 08021691 core:ShareCapital 2021-10-31 08021691 core:RetainedEarningsAccumulatedLosses 2022-10-31 08021691 core:RetainedEarningsAccumulatedLosses 2021-10-31 08021691 bus:Director1 2021-10-31 08021691 bus:Director1 2022-10-31 08021691 bus:Director1 2020-10-31 08021691 bus:Director1 2021-10-31 08021691 bus:Director1 2020-11-01 2021-10-31 08021691 bus:SmallEntities 2021-11-01 2022-10-31 08021691 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 08021691 bus:AbridgedAccounts 2021-11-01 2022-10-31 08021691 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 08021691 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 08021691 core:Buildings 2021-11-01 2022-10-31 08021691 core:AllAssociates 2022-10-31 08021691 core:AllAssociates 2021-10-31
Company registration number: 08021691
Alexander Bursk Limited
Trading as Alexander Bursk
Unaudited filleted abridged financial statements
31 October 2022
Alexander Bursk Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Alexander Bursk Limited
Directors and other information
Directors Mr Ian Epstein (Resigned 27 February 2023)
Mr Barry Fine
Mr Martin Peters
Mr Kevin Cuddy (Appointed 30 March 2023)
Company number 08021691
Registered office Parkgates
Bury New Road
Prestwich
Manchester
M25 0JW
Business address Parkgates
Bury New Road
Prestwich
Manchester
M25 0JW
Alexander Bursk Limited
Abridged statement of financial position
31 October 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 328,400 353,900
Tangible assets 6 20,240 24,950
_______ _______
348,640 378,850
Current assets
Work in progress 177,882 182,976
Debtors 7 181,220 357,619
Cash at bank and in hand 185 60,081
_______ _______
359,287 600,676
Creditors: amounts falling due
within one year 8 ( 103,888) ( 242,255)
_______ _______
Net current assets 255,399 358,421
_______ _______
Total assets less current liabilities 604,039 737,271
Creditors: amounts falling due
after more than one year 9 ( 76,368) ( 85,563)
_______ _______
Net assets 527,671 651,708
_______ _______
Capital and reserves
Called up share capital 300,010 300,010
Profit and loss account 227,661 351,698
_______ _______
Shareholders funds 527,671 651,708
_______ _______
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 October 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 27 July 2023 , and are signed on behalf of the board by:
Mr Barry Fine Mr Kevin Cuddy
Director Director
Company registration number: 08021691
Alexander Bursk Limited
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Parkgates, Bury New Road, Prestwich, Manchester, M25 0JW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity
Revenue recognition
Revenue represents amounts chargeable and billed to clients for professional services provided during the year, net of any sales related tax. Services to clients, which at the balance sheet date have not been billed have been recognised as revenue. Such revenue is recognised by reference to the assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
Property improvements - 16.67 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2021: 13 ).
5. Intangible assets
£
Cost
At 1 November 2021 and 31 October 2022 511,000
_______
Amortisation
At 1 November 2021 157,100
Charge for the year 25,500
_______
At 31 October 2022 182,600
_______
Carrying amount
At 31 October 2022 328,400
_______
At 31 October 2021 353,900
_______
6. Tangible assets
£
Cost
At 1 November 2021 82,601
Additions 3,112
_______ |
At 31 October 2022 85,713
_______ |
Depreciation
At 1 November 2021 57,651
Charge for the year 7,822
_______ |
At 31 October 2022 65,473
_______ |
Carrying amount
At 31 October 2022 20,240
_______ |
At 31 October 2021 24,950
_______ |
7. Debtors
2022 2021
£ £
Trade debtors 138,231 345,732
Other debtors 42,989 11,887
_______ _______
181,220 357,619
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 22,148 10,000
Trade creditors 14,285 7,147
Corporation tax - 8,736
Social security and other taxes 41,359 87,006
Other creditors 26,096 129,366
_______ _______
103,888 242,255
_______ _______
9. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 26,368 35,563
Other creditors 50,000 50,000
_______ _______
76,368 85,563
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Ian Epstein ( 40,992) 40 40,992 40
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Ian Epstein ( 9,348) ( 31,644) - ( 40,992)
_______ _______ _______ _______
At 31/10/2022, the bank overdraft was guaranteedby I S Epstein, Mrs R M Epstein, B Fine and Mrs A Fine.
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2022 2021 2022 2021
£ £ £ £
Glicksman Cantor Associates Ltd 14,142 17,670 926 1,332
First Regional Accounting Ltd 25,000 25,000 50,000 60,280
Mrs R M Epstein - - - 15,440
_______ _______ _______ _______
12. Controlling party
The company is controlled by B Fine by virtue of enhanced voting rights.