Company registration number 13631470 (England and Wales)
BUCKLEY BUILDING (LEITH) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
BUCKLEY BUILDING (LEITH) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BUCKLEY BUILDING (LEITH) LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
3
402,056
195,574
Debtors
4
2,079
2,828
Cash at bank and in hand
1,467
18,041
405,602
216,443
Creditors: amounts falling due within one year
5
(424,107)
(229,473)
Net current liabilities
(18,505)
(13,030)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(18,605)
(13,130)
Total equity
(18,505)
(13,030)
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 member has 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 18 September 2023 and are signed on its behalf by:
William John Buckley
Director
Company registration number 13631470 (England and Wales)
BUCKLEY BUILDING (LEITH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information
BUCKLEY BUILDING (LEITH) LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.
1.1
Reporting period
In the previous period, the company prepared its first financial statements which covered the period from the date of incorporation, that was 20 September 2021 to the period ended 30 June 2022.
1.2
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.
1.3
Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value. Cost comprises of site costs, direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of previously recognised impairment losses are also recognised in profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BUCKLEY BUILDING (LEITH) 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
3
Stocks
2023
2022
£
£
Work in progress
282,056
75,574
Cost of site
120,000
120,000
402,056
195,574
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,079
2,828
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
46
331
Amounts owed to parent company
422,548
227,629
Other creditors
1,513
1,513
424,107
229,473
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
7
Related party transactions
BUCKLEY BUILDING (LEITH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
7
Related party transactions
(Continued)
- 4 -
During the previous period, the company bought a site from its parent company, Buckley Building (UK) Limited at market value for the amount of £120,000. Last year, Buckley Building (UK) Limited charged this company £10,000 for management services provided in respect of the acquired site. No amount was charged in the current year.
8
Parent company
The ultimate parent company is Buckley Building (UK) Limited, a company registered in England and Wales.