REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Bricks & Passion Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
Bricks & Passion Ltd |
Bricks & Passion Ltd (Registered number: 13620548) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Bricks & Passion Ltd (Registered number: 13620548) |
Statement of Financial Position |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Bricks & Passion Ltd (Registered number: 13620548) |
Statement of Financial Position - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bricks & Passion Ltd (Registered number: 13620548) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Bricks & Passion Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stock representing properties intended for resale is valued at the lower of cost and estimated selling price less costs to complete and sell. Costs incurred in refurbishing properties to the resale standard are included in the cost of each property. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Bricks & Passion Ltd (Registered number: 13620548) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company has net liabilities of £260,156. The accounts have been prepared on going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
The loan amounting to £217,000 is secured by the way of charge on the property situated at 17 Charnley Road, Blackpool, FY1 4PE (disclosed as inventories). The charge was created in the name of Together Commercial Finance Limited on 24 November 2021. |
The loan amounting to £121,085 is secured by the way of charge on the property situated at 108 Norfolk Street, Swansea, SA1 6JB(disclosed as inventories). The charge was created in the name of Mint Property Finance Limited on 12 May 2022. |
The loan amounting to £408,750 is secured by the way of charge on the property situated at 76A Walter Road, Swansea, SA1 4QA(disclosed as inventories). The charge was created in the name of Gfs 1 Ltd on 07 October 2022. |
Bricks & Passion Ltd (Registered number: 13620548) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RELATED PARTY DISCLOSURES |
The company owes £507,448 to its director, Mr Robbert-Jan Van Ravenswaaij who is also a 50% shareholder of the company as at accounting year end date. |
The company owes £507,448 to its director, Mrs Renate Frieda Margriet Verstraeten who is also a 50% shareholder of the company as at accounting year end date. |