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COMPANY REGISTRATION NUMBER: 11528050
Bulwark Investments Limited
Filleted Unaudited Financial Statements
Year ended
31 August 2023
Bulwark Investments Limited
Financial Statements
Year ended 31 August 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Bulwark Investments Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
66,273
22,357
Current assets
Debtors
6
66,151
71,000
Investments
7
109,436
50,432
Cash at bank and in hand
1,481
40,493
----------
----------
177,068
161,925
Creditors: amounts falling due within one year
8
106,111
101,228
----------
----------
Net current assets
70,957
60,697
----------
--------
Total assets less current liabilities
137,230
83,054
Provisions
12,592
4,248
----------
--------
Net assets
124,638
78,806
----------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
124,538
78,706
----------
--------
Shareholders funds
124,638
78,806
----------
--------
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 income statement has not been delivered.
For the year ending 31 August 2023 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 .
Bulwark Investments Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Mr R Guy
Director
Company registration number: 11528050
Bulwark Investments Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kemp House, 160 City Road, London, EC1V 2NX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from provision of services is recognised when the sales invoice is issued.
(d) Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
(f) 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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
(g) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
(h) Defined contributions 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 September 2022
28,098
2,580
30,678
Additions
85,981
1,099
87,080
Disposals
( 28,098)
( 28,098)
--------
-------
--------
At 31 August 2023
85,981
3,679
89,660
--------
-------
--------
Depreciation
At 1 September 2022
7,025
1,296
8,321
Charge for the year
21,495
596
22,091
Disposals
( 7,025)
( 7,025)
--------
-------
--------
At 31 August 2023
21,495
1,892
23,387
--------
-------
--------
Carrying amount
At 31 August 2023
64,486
1,787
66,273
--------
-------
--------
At 31 August 2022
21,073
1,284
22,357
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
44,429
1,000
Other debtors
21,722
70,000
--------
--------
66,151
71,000
--------
--------
7. Investments
2023
2022
£
£
Company investments
109,436
50,432
----------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,299
1,260
Corporation tax
16,722
Other creditors
104,812
83,246
----------
----------
106,111
101,228
----------
----------
9. Related party transactions
The directors who are also shareholders had current accounts with the company during the year. At the year end the balance owing to the Directors by the Company was £ 104,812 , (2022 £83,246).