REGISTERED NUMBER: |
PRAXIS 258 BREAKSPEAR PARK LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
REGISTERED NUMBER: |
PRAXIS 258 BREAKSPEAR PARK LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PRAXIS 258 BREAKSPEAR PARK LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Exchange |
5 Bank Street |
Bury |
Lancashire |
BL9 0DN |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
Notes | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 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 |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Praxis 258 Breakspear Park Limited is a private company, limited by shares, registered in England and Wales, The company's registered number is 14616224 and the registered office address is 9th Floor Ship Canal House, 98 King Street, Manchester, England, M2 4WU. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Determining the fair value of investment property is a key judgement. |
Revenue |
Rental income is recognised on a straight line basis over the term of the lease. Lease incentives are recognised as a reduction to the income over the term of the lease. |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
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 the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Investments |
Investments are shown at cost less any provision for permanent diminution in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
The fair value as at 31 December 2023 has been determined by the directors based on current market values. |
PRAXIS 258 BREAKSPEAR PARK LIMITED (REGISTERED NUMBER: 14616224) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 25 JANUARY 2023 TO 31 DECEMBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by related companies |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Trade creditors |
Related party loans |
Amounts owed to related companies |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The bank loan is secured on the assets of the company by way of a fixed and floating charge. |