Registered Number
(England and Wales)
Unaudited Financial Statements for the Year ended
1 June 2023
Director |
Company Secretary | BUTRIMAS, Nia Louise |
Registered Address | |
Registered Number |
Notes | 2023 | 2022 | ||||||
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£ | £ | £ | £ | |||||
Fixed assets | ||||||||
Investment property | 3 | |||||||
Current assets | ||||||||
Cash at bank and on hand | ||||||||
Creditors amounts falling due within one year | 4 | ( | ||||||
Net current assets (liabilities) | ( | |||||||
Total assets less current liabilities | ||||||||
Creditors amounts falling due after one year | 5 | ( | ||||||
Net assets | ( | |||||||
Capital and reserves | ||||||||
Called up share capital | ||||||||
Profit and loss account | ( | |||||||
Shareholders' funds | ( |
The financial statements were approved and authorised for issue by the Director on 9 April 2024, and are signed on its behalf by: |
Director Registered Company No. 12593753 |
1. | Accounting policies |
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Statutory information | |
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Statement of compliance | |
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Basis of preparation | |
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Going concern | |
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Finance costs | |
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Tangible fixed assets and depreciation | |
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Investment property | |
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2. | Average number of employees |
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2023 | 2022 | |||
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Average number of employees during the year |
3. | Investment property |
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£ | ||
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Additions | ||
At 01 June 23 |
4. | Creditors: amounts due within one year |
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2023 | 2022 | |||
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£ | £ | |||
Bank borrowings and overdrafts | ||||
Accrued liabilities and deferred income | ||||
Total |
5. | Creditors: amounts due after one year |
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2023 | 2022 | |||
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£ | £ | |||
Bank borrowings and overdrafts | ||||
Total |
6. | Secured creditors |
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During the financial year, the company acquired two investment properties: 15 Bethel Street and 64 Ivy Leigh. These acquisitions were financed through bridging loans from Together Commercial Finance Ltd. Key Details are as follows: Principal Amount: At the purchase date, the outstanding balance for 15 Bethel Street was £73,401, and for 64 Ivy Leigh was £65,652. Security: The loans are secured against the respective investment properties, which were valued at £211,000 collectively at the balance sheet date. The fair value of the investment properties is determined based on the comparable sales approach, as outlined in the Investment Properties accounting note. Risks and Uncertainties: The company manages its liquidity risk and interest rate risk in relation to the bridging loans from Together Commercial Finance Ltd, ensuring that cash flows are sufficient to meet the scheduled interest and principal repayments. The company is in compliance with all loan covenants as of the reporting date. There are further details on financing through director's deposits available in Note (Creditors: Amounts due within one year). |