Building Blocks Investments Limited 13794086 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is letting of investment property Digita Accounts Production Advanced 6.30.9574.0 true true 13794086 2023-01-01 2023-12-31 13794086 2023-12-31 13794086 core:RetainedEarningsAccumulatedLosses 2023-12-31 13794086 core:ShareCapital 2023-12-31 13794086 core:CurrentFinancialInstruments 2023-12-31 13794086 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13794086 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13794086 bus:SmallEntities 2023-01-01 2023-12-31 13794086 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13794086 bus:FullAccounts 2023-01-01 2023-12-31 13794086 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13794086 bus:RegisteredOffice 2023-01-01 2023-12-31 13794086 bus:Director1 2023-01-01 2023-12-31 13794086 bus:Director2 2023-01-01 2023-12-31 13794086 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13794086 countries:EnglandWales 2023-01-01 2023-12-31 13794086 2022-12-31 13794086 2021-12-10 2022-12-31 13794086 2022-12-31 13794086 core:RetainedEarningsAccumulatedLosses 2022-12-31 13794086 core:ShareCapital 2022-12-31 13794086 core:CurrentFinancialInstruments 2022-12-31 13794086 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13794086 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 13794086

Building Blocks Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Building Blocks Investments Limited

(Registration number: 13794086)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,170,729

1,170,729

Current assets

 

Debtors

5

848

534

Cash at bank and in hand

 

12,058

3,058

 

12,906

3,592

Creditors: Amounts falling due within one year

6

(505,905)

(511,076)

Net current liabilities

 

(492,999)

(507,484)

Total assets less current liabilities

 

677,730

663,245

Creditors: Amounts falling due after more than one year

6

(668,033)

(669,089)

Net assets/(liabilities)

 

9,697

(5,844)

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

9,597

(5,944)

Shareholders' funds/(deficit)

 

9,697

(5,844)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 



 

Dr R Bangalore Harish
Director



 

Dr T Bangalore
Director

 

Building Blocks Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Woburn House
84 St Benedicts Street
Norwich
Norfolk
NR2 4AB

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

 

Building Blocks Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2022 - 0).

4

Investment property

2023
£

2022
£

At 1 January

1,170,729

-

Additions

-

1,170,729

At 31 December

1,170,729

1,170,729

The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.

5

Debtors

2023
£

2022
£

Prepayments

848

534

848

534

 

Building Blocks Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts failling due within one year

2023
£

2022
£

Bank loans

-

8,957

Trade creditors

90

325

Taxation and social security

3,646

417

Other creditors

1,575

813

Other loans

497,273

497,564

Accruals

3,321

3,000

505,905

511,076

Creditors include bank loans which are secured against the property they relate to in the sum of £nil (2022 - £8,957).

Creditors: amounts falling due after more than one year

2023
£

2022
£

Bank loans

668,033

669,089

668,033

669,089

Creditors include bank loans which are secured against the property they relate to or by fixed, floating and negative charges against the assets of the company in the sum of £668,033 (2022 - £669,089). Within this amount £nil (2022 - £72,719) is repayable by instalments after more than five years and sum £668,033 (2022 - £558,990) is repayable other than by instalments after more than five years.

7

Related party transactions

Directors’ loan

A director provided the company with a loan on which no interest was charged.
 

 

Building Blocks Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £0.01 each

4,925

49

4,925

49

Ordinary B of £0.01 each

4,925

49

4,925

49

Ordinary C of £0.01 each

10

-

10

-

Ordinary D of £0.01 each

10

-

10

-

Ordinary E of £0.01 each

10

-

10

-

Ordinary F of £0.01 each

10

-

10

-

Ordinary G of £0.01 each

10

-

10

-

Ordinary H of £0.01 each

10

-

10

-

Ordinary I of £0.01 each

10

-

10

-

Ordinary J of £0.01 each

10

-

10

-

Ordinary K of £0.01 each

10

-

10

-

Ordinary L of £0.01 each

10

-

10

-

Ordinary M of £0.01 each

10

-

10

-

Ordinary N of £0.01 each

10

-

10

-

Ordinary O of £0.01 each

10

-

10

-

Ordinary P of £0.01 each

10

-

10

-

Ordinary Q of £0.01 each

10

-

10

-

 

10,000

100

10,000

100