Company registration number 10912230 (England and Wales)
BLOOM PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
BLOOM PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The following pages do not form part of the statutory financial statements
Detailed trading and profit and loss account
-
BLOOM PROPERTIES LIMITED
BALANCE SHEET
AS AT
27 AUGUST 2023
27 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
2,361,066
2,074,976
Creditors: amounts falling due within one year
6
(2,293,371)
(1,957,049)
Net current assets
67,695
117,927
Creditors: amounts falling due after more than one year
7
(50,000)
(50,000)
Net assets
17,695
67,927
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
17,595
67,827
Total equity
17,695
67,927
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 27 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 August 2024
Mr L Bassini
Director
Company registration number 10912230 (England and Wales)
BLOOM PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 AUGUST 2023
- 2 -
1
Accounting policies
Company information
Bloom Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
BLOOM PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 AUGUST 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 28 August 2022 and 27 August 2023
2,503
Depreciation and impairment
At 28 August 2022 and 27 August 2023
2,503
Carrying amount
At 27 August 2023
At 27 August 2022
4
Investment property
2023
£
Fair value
At 28 August 2022
Additions
1,800,000
Disposals
(1,800,000)
At 27 August 2023
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,500,000
1,500,000
Other debtors
861,066
574,976
2,361,066
2,074,976
BLOOM PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 AUGUST 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,852,249
1,556,636
Taxation and social security
424,731
384,022
Other creditors
16,391
16,391
2,293,371
1,957,049
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
50,000
50,000
8
Related party transactions
Included within other debtors is £861,066 (2022: £465,425) owed by companies connected to the director as at the balance sheet date.