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Registered number: 12253963
Buzz Capital Property Finance Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
J S & Co LLP
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Buzz Capital Property Finance Limited for the year ended 30 June 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Buzz Capital Property Finance Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Buzz Capital Property Finance Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Buzz Capital Property Finance Limited and state those matters that we have agreed to state to the directors of Buzz Capital Property Finance Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buzz Capital Property Finance Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Buzz Capital Property Finance Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Buzz Capital Property Finance Limited . You consider that Buzz Capital Property Finance Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Buzz Capital Property Finance Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
16/10/2024
J S & Co LLP
3rd Floor Hanover House
118 Queens Road
Brighton
East Sussex
BN1 3XG
Page 1
Page 2
Balance Sheet
Registered number: 12253963
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 3,120,128 3,816,569
Cash at bank and in hand 1,131,682 26,509
4,251,810 3,843,078
Creditors: Amounts Falling Due Within One Year 5 (4,227,727 ) (3,835,652 )
NET CURRENT ASSETS (LIABILITIES) 24,083 7,426
TOTAL ASSETS LESS CURRENT LIABILITIES 24,083 7,426
NET ASSETS 24,083 7,426
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 24,082 7,425
SHAREHOLDERS' FUNDS 24,083 7,426
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Marcus Searancke
Director
09/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Buzz Capital Property Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12253963 . The registered office is 3rd Floor Hanover House, 118 Queens Road, Brighton, BN1 3XG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.
2.3. 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 balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 3,000
Amounts owed by group undertakings 297 -
Other debtors 3,119,831 3,813,569
3,120,128 3,816,569
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Amounts owed to group undertakings 104,485 45,000
Other creditors 4,121,128 3,790,087
Taxation and social security 2,114 565
4,227,727 3,835,652
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
7. Related Party Transactions
At the balance sheet date an amount of £104,485 (2023: £45,000) remained owing to Buzz Capital Services Limited, the parent company of Buzz Capital Property Finance Limited.
An amount of £297 (2023: £nil) was owed to the company by Buzz Capital Finance Limited, a fellow subsidiary of Buzz Capital Services Limited.
Page 3
Page 4
8. Controlling Party
The company is a wholly owned subsidiary of Buzz Capital Services Limited. The ultimate controlling party is D M Rogers.
9. GROUP LOSS RELIEF
The company made a claim to group loss relief from Buzz Capital Services Limited.
Page 4