Registration number:
Burlington Gardens Real Estate Limited
for the Period from 14 June 2022 to 30 June 2023
Pages for Filing with Registrar
Burlington Gardens Real Estate Limited
(Registration number: 14170434)
Balance Sheet as at 30 June 2023
Note |
2023 |
|
Current assets |
||
Stock |
|
|
Creditors: Amounts falling due within one year |
( |
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
100 |
|
Retained earnings |
64,510 |
|
Shareholders' funds |
64,610 |
For the financial period ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Burlington Gardens Real Estate Limited
Notes to the Unaudited Financial Statements for the Period from 14 June 2022 to 30 June 2023
General information |
The address of its registered office is:
England
Principal activity
The principal activity of the Company is the buying and selling of own real estate.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Burlington Gardens Real Estate Limited
Notes to the Unaudited Financial Statements for the Period from 14 June 2022 to 30 June 2023
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.
Properties held for resale
Properties held for resale are valued at the lower of cost and net realisable value. Net realisable value
is deemed to be estimated sales proceeds less attributable costs.
The cost of properties held for resale comprises direct purchase costs and, where applicable, direct
labour costs and those overheads that have been incurred in bringing the properties held for resale to
their present condition. At each reporting date, properties held for resale are assessed for impairment.
If properties held for resale are impaired, the carrying amount is reduced to its selling price less costs
to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Burlington Gardens Real Estate Limited
Notes to the Unaudited Financial Statements for the Period from 14 June 2022 to 30 June 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Significant judgements and estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
Staff numbers |
The average number of persons employed by the Company (including directors) during the period, was
Stock |
2023 |
|
Stock |
|
Creditors |
2023 |
||
Due within one year |
||
Amounts owed to group |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
118,234 |
Burlington Gardens Real Estate Limited
Notes to the Unaudited Financial Statements for the Period from 14 June 2022 to 30 June 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
||
No. |
£ |
|
|
|
100 |
Dividends |
There were no dividends paid or proposed in either the current year or the previous year.