Company Registration No. 11776216 (England and Wales)
The Old Building (Bradford) Ltd
Unaudited accounts
for the year ended 31 March 2023
The Old Building (Bradford) Ltd
Unaudited accounts
Contents
The Old Building (Bradford) Ltd
Company Information
for the year ended 31 March 2023
Directors
Ali Ahmed
Mohammed Ditta
Afshan Tehseen Iqbal
Zahid Jamil
Tanveer Manawar
Moez Saeed
Company Number
11776216 (England and Wales)
Registered Office
Grove Business Centre
41 Great Horton Road
Bradford
West Yorkshire
BD7 1AH
England
Accountants
Shipleys Tax - Chartered Accountants
32 Park Cross Street
Leeds
West Yorkshire
LS1 2QH
The Old Building (Bradford) Ltd
Statement of financial position
as at 31 March 2023
Called up share capital not paid
-
300
Tangible assets
3,750,000
-
Cash at bank and in hand
212,466
-
Creditors: amounts falling due within one year
(2,535,892)
-
Net current liabilities
(2,323,426)
-
Total assets less current liabilities
1,426,574
300
Provisions for liabilities
Called up share capital
300
300
Revaluation reserve
1,541,720
-
Profit and loss account
(629,352)
-
Shareholders' funds
912,668
300
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by
Ali Ahmed
Director
Company Registration No. 11776216
The Old Building (Bradford) Ltd
Notes to the Accounts
for the year ended 31 March 2023
The Old Building (Bradford) Ltd is a private company, limited by shares, registered in England and Wales, registration number 11776216. The registered office is Grove Business Centre, 41 Great Horton Road, Bradford, West Yorkshire, BD7 1AH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Old Building (Bradford) Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Cost or valuation
At valuation
At 31 March 2023
3,750,000
At 31 March 2023
3,750,000
Carrying amount of land and buildings on cost basis
1,694,374
-
The valuation of the Land and Buildings was undertaken by Walker Singleton - Chartered Surveyors and in their opinion the market value of the property, on the basis of vacant possession being available throughout is £3,750,000.
This valuation was undertaken prior to purchase of the property, the valuation date being 9 June 2021. In the opinion of the directors the difference in valuation between the two dates is insignificant.
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,757,371
-
Amounts owed to group undertakings and other participating interests
428,121
-
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300
300
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).