Company registration number 10491980 (England and Wales)
BUCKHAM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BUCKHAM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BUCKHAM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
3,919,296
2,864,696
Current assets
Debtors
4
6,466
244,621
Cash at bank and in hand
605,544
150,517
612,010
395,138
Creditors: amounts falling due within one year
5
(2,084,455)
(2,016,539)
Net current liabilities
(1,472,445)
(1,621,401)
Total assets less current liabilities
2,446,851
1,243,295
Creditors: amounts falling due after more than one year
6
(1,800,000)
(900,000)
Provisions for liabilities
(163,442)
(87,025)
Net assets
483,409
256,270
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
483,309
256,170
Total equity
483,409
256,270

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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.

BUCKHAM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr H J Brown
Director
Company registration number 10491980 (England and Wales)
BUCKHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Buckham Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Value House, Clovelly Road, Bideford, Devon, EX39 3HN.

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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

BUCKHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
3
Investment property
2023
£
Fair value
At 1 January 2023
2,864,696
Additions
825,186
Revaluations
229,414
At 31 December 2023
3,919,296

The fair value of completed investment properties was determined at 31 December 2023 based on independent professional valuations. Properties for which development work was in progress were included at accumulated cost to the year end date.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,466
3,376
Other debtors
-
0
241,245
6,466
244,621
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
563,898
25,446
Taxation and social security
8,347
-
0
Other creditors
1,512,210
1,991,093
2,084,455
2,016,539
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,800,000
900,000
BUCKHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Creditors: amounts falling due after more than one year
(Continued)
- 5 -

Other creditors include loans of £1,800,000 (2022: £900,000) which are secured over the assets of the company.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A ordinary shares of £1 each
25
25
25
25
B ordinary shares of £1 each
25
25
25
25
C ordinary shares of £1 each
25
25
25
25
D ordinary shares of £1 each
25
25
25
25
100
100
100
100
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
276,482
-
Non distributable profits in the year
172,060
276,482
At the end of the year
448,542
276,482

Non-distributable reserves comprise revaluations of investment properties, net of deferred tax provisions.

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