Registered number: 03891961 | ||||||||
FOR THE YEAR ENDED 9 JUNE 2023 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Buzzgrade Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 9 JUNE 2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
B J Ferris | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 03891961 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Buzzgrade Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED9 JUNE 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Buzzgrade Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Cash at bank and in hand | ||||||||||
129,498 | 73,056 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT LIABILITIES | ( | (88,176) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | - | 208,169 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 7 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Share premium account | 9 | |||||||||
Revaluation reserve | ,10 | 2,693,175 | 3,268,826 | |||||||
Profit and loss account | 1,186,974 | 1,360,417 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Buzzgrade Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 9 JUNE 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Fixtures and Fittings | reducing balance 25% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. |
1d. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1e. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
1f. Statutory Information | ||||||||
Buzzgrade Limited is a private company, limited by shares, incorporated in England and Wales.The company's registered number is 03891961 and registered office address is First Floor 690 Great West Road, Osterley Village, Isleworth, England, TW7 4PU. |
Buzzgrade Limited | ||||||||
1g. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
3. TANGIBLE FIXED ASSETS | ||||
Fixtures | ||||
and Fittings | Total | |||
£ | £ | |||
Cost | ||||
At 10 June 2022 | 46,464 | 46,464 | ||
Additions | 254 | 254 | ||
At 9 June 2023 | 46,718 | 46,718 | ||
Depreciation | ||||
At 10 June 2022 | 42,717 | 42,717 | ||
For the year | 995 | 995 | ||
At 9 June 2023 | 43,712 | 43,712 | ||
Net Book Amounts | ||||
At 9 June 2023 | 3,006 | |||
At 9 June 2022 | 3,747 | |||
Buzzgrade Limited | ||||||||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 10 June 2022 | 5,766,518 | 5,766,518 | ||||||
Additions | 21,385 | 21,385 | ||||||
Disposals | (750,000) | (750,000) | ||||||
At 9 June 2023 | 5,037,903 | 5,037,903 | ||||||
The investment properties have not been depreciated over the useful economic lives as required by the Companies Act 2006 in order that the financial statements give a true and fair view. The net book value as at 9 June 2023 was £5,037,903 (2022: £5,766,518). The directors consider the valuation of the freehold properties to be a good approximation of the open market value at the balance sheet date. Tangible fixed assets included at a valuation would have been included on a historical cost basis with a cost of £1,527,725 (2022: £1,702,074), depreciation of £313,432 (2022: £230,388), and net book value of £1,214,293 (2022: £1,471,686). | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Taxation and social security | 117,018 | 23,029 | ||||||
Directors current account | 2,374 | 7,690 | ||||||
Bank Loan | - | 58,812 | ||||||
Other trade creditors | 49,054 | 67,287 | ||||||
Other creditors | 9,999 | 2,230 | ||||||
Accruals | 10,252 | 2,184 | ||||||
188,697 | 161,232 | |||||||
The bank loans are secured by a fixed and floating charge on the company's properties. | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans | - | 208,169 | ||||||
- | 208,169 | |||||||
The bank loans are secured by a fixed and floating charge on the company's properties. | ||||||||
7. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 877,545 | 621,077 | ||||||
877,545 | 621,077 | |||||||
Buzzgrade Limited | ||||||||
8. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
832 | 832 | |||||||
416 | ||||||||
1,248 | 832 | |||||||
New shares issued during period: | ||||||||
416 | 416 | |||||||
416 | - | |||||||
9. SHARE PREMIUM ACCOUNT | 2023 | 2022 | ||||
£ | £ | |||||
Share premium account | 222,768 | 222,768 |
10. REVALUATION RESERVE | 2023 | 2022 | ||||||
£ | £ | |||||||
Fair value reserve | 2,693,175 | 3,268,826 | ||||||
2,693,175 | 3,268,826 | |||||||
The movement in the revaluation reserve of £575,651 relates to transfer to Profit and Loss on sale of assets. | ||||||||