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Registered Number: 14708478
England and Wales

 

 

 

BRAMHALL COMMERCIAL 2 LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 06 March 2023

End date: 31 March 2024
Directors Georgina Basso
Jonathan Basso
Anthony Kirkham
Registered Number 14708478
Registered Office Flynn House
32 Woodford Road
Bramhall
Cheshire
SK7 1PA
Accountants OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
1
Director's report and financial statements
The directors present their annual report and the financial statements for the inaugural period ended 31 March 2024.
Principal activities
The principal activity of the Company during the financial period was short-term bridging finance.
Directors
The directors who served throughout the period were as follows:
Georgina Basso
Jonathan Basso
Anthony Kirkham
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.  Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102).  Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards have been followed (subject to any material departures disclosed); and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume continuation.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.

Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Anthony Kirkham
Director

Date approved: 27 September 2024
2
You consider that the Company is exempt from an audit for the period ended 31 March 2024.

You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the Company at the end of the financial year and of its profit or loss for the financial period. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.



....................................................

OMB Tax Limited

Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
27 September 2024
3
 
 
Notes
 
2024
£
Current assets    
Debtors 4 2,002,185 
Cash at bank and in hand 15,205 
2,017,390 
Creditors: amounts falling due within one year 5 (2,020,906)
Net current assets (3,516)
 
Total assets less current liabilities (3,516)
Net assets (3,516)
 

Capital and reserves
   
Called up share capital 6 3 
Profit and loss account (3,519)
Shareholders' funds (3,516)
 


For the period ended 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 September 2024 and were signed on its behalf by:


-------------------------------
Anthony Kirkham
Director
4
General Information
Bramhall Commercial 2 Limited is a private company, limited by shares, registered in England and Wales, number 14708478, at Flynn House, 32 Woodford Road, Bramhall, Cheshire, SK7 1PA.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 (under Part 1A), the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.

Basis of preparation
The financial statements are presented in £ Sterling (which is the operational currency of the Company), on the going concern basis under the historical cost convention in accordance with the accounting policies.
Going concern basis
In preparing the financial statements, the directors are required to make an assessment of the ability of the Company to continue as a going concern. The directors have considered all available evidence for the Company which covers the 12 months from the date of signing these financial statements. The directors have paid particular attention to likely cashflow requirements and future availability of adequate cashflow to the Company.


On the basis of this consideration, the directors are confident that the Company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion, they are satisfied that no material uncertainty exists. As a result of the above, the directors concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover
Turnover comprises the contractual sums due to the Company pursuant to loan agreements entered into with its customers.
Taxation
Taxation represents the sum of tax currently payable, recognised in the profit and loss account. No provision is made for deferred tax. The Company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Tax assets and liabilities are not discounted.
2.

Average number of employees

Average number of employees during the period was 3.
3.

Indebtedness

Included within "Creditors: amounts falling due within one year" are unsecured short-term borrowings of £2,017,406 repayable within 12 months not by instalments.

4.

Debtors: amounts falling due within one year

2024
£
Accrued Interest Receivable 6,455 
Bridging Loans Advanced 1,995,730 
2,002,185 

5.

Creditors: amounts falling due within one year

2024
£
Accrued Expenses 3,500 
Jonathan Basso Short-Term Financing 2,017,406 
2,020,906 

6.

Share Capital

Allotted, called up and fully paid
2024
£
3 Ordinary shares of £1.00 each

7.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
2024
£
Jonathan Basso(92,807)(2,017,406)
Anthony Kirkham(55,693)

Mr Jonathan Basso is the principal lender to the Company on full commercial terms.
Mr Anthony Kirkham charged and received management and consultancy fees via a company under his control.
5