BURTON_PROPERTY_LIMITED - Accounts

BURTON PROPERTY LIMITED - Company Information

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Company Registration No. 05215425 (England and Wales)

BURTON PROPERTY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

BURTON PROPERTY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

BURTON PROPERTY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

782,958

3,968

Investments

783,008

4,044

Current assets

Stocks

62,934

Debtors

741,283

1,066,392

Cash at bank and in hand

1,037,075

1,171,693

1,778,358

2,301,019

Creditors: amounts falling due within one year

(94,592)

(379,761)

Net current assets

1,683,766

1,921,258

Total assets less current liabilities

2,466,774

1,925,302

Provisions for liabilities

(435)

2,466,339

1,925,302

Capital and reserves

Called up share capital

100

Profit and loss account

2,466,239

1,925,202

Shareholders' funds

2,466,339

1,925,302

BURTON PROPERTY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2016

- 2 -

For the financial year ended 31 August 2016 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 November 2016

Mr A W R Burton

Mrs J H Burton

Director

Company Registration No. 05215425

BURTON PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. This has been recognised in accordance with UITF abstract 40 'Revenue recognition and Service contracts'.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Land and buildings Leasehold

Over the period of the lease

Computer equipment

33% Straight Line

Fixtures, fittings & equipment

25% Reducing Balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

BURTON PROPERTY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 4 -

Fixed assets

Tangible

Investments

Total

Cost

At 1 September 2015

56,069

56,145

Additions

782,517

Disposals

(39,985)

(26)

(40,011)

At 31 August 2016

798,601

798,651

Depreciation

At 1 September 2015

52,101

On disposals

(37,661)

Charge for the year

1,203

At 31 August 2016

15,643

Net book value

At 31 August 2016

782,958

783,008

At 31 August 2015

3,968

4,044

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Participating interests

BB Homes Limited

England & Wales

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

BB Homes Limited

Building and selling residential homes

The company disposed of its share in Woodbury Properties Limited for consideration of £337,293 giving a gain on sale of £337,267.

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100