Company registration number 12645576 (England and Wales)
BREAKING GROUND ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
BREAKING GROUND ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BREAKING GROUND ESTATES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,613
-
0
Investment property
4
952,588
952,588
954,201
952,588
Current assets
Cash at bank and in hand
3,937
9,498
Creditors: amounts falling due within one year
5
(998,328)
(1,028,447)
Net current liabilities
(994,391)
(1,018,949)
Net liabilities
(40,190)
(66,361)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(40,290)
(66,461)
Total equity
(40,190)
(66,361)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 6 November 2023 and are signed on its behalf by:
Mrs A F Worrall
Mr R D Worrall
Director
Director
Company registration number 12645576 (England and Wales)
BREAKING GROUND ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Breaking Ground Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Hillier Road, London, SW11 6AU. The company registration number is 12645576.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
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. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BREAKING GROUND ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
-
0
Additions
2,150
At 30 June 2023
2,150
Depreciation and impairment
At 1 July 2022
-
0
Depreciation charged in the year
537
At 30 June 2023
537
Carrying amount
At 30 June 2023
1,613
At 30 June 2022
-
0
4
Investment property
2023
£
Fair value
Original cost
704,891
Improvements to date
247,697
At 30 June 2023
952,588

Investment property comprises £704,891. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

Improvement additions total £247,697 to date, resulting in a total value in the balance sheet of £952,588.

BREAKING GROUND ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
998,328
1,028,447
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