Registration number:
Bacon Property Group Ltd
for the Year Ended 31 October 2023
Bacon Property Group Ltd
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Bacon Property Group Ltd
(Registration number: 13243892)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Tangible assets |
|
- |
|
Investment property |
|
- |
|
|
- |
||
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
- |
|
Net current (liabilities)/assets |
( |
|
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
- |
|
Shareholders' (deficit)/funds |
( |
|
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Bacon Property Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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
Notwithstanding the deficit of shareholders' funds, the director considers that the company will recover this deficit in future years and therefore it is appropriate for the accounts to be prepared on a going concern basis.
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
25% straight line |
Investment property
Cash
Cash comprises cash on hand and all deposits.
Bacon Property Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
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.
Staff numbers |
The average number of persons employed by the company during the year was
Tangible assets |
Computer equipment |
Total |
|
Cost |
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Additions |
|
|
At 31 October 2023 |
|
|
Depreciation |
||
Charge for the year |
|
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At 31 October 2023 |
|
|
Net book value |
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At 31 October 2023 |
|
|
Investment property |
2023 |
2022 |
|
Additions |
|
- |
Fair value adjustments |
( |
- |
At 31 October |
|
- |
The property was valued by the director at market value.
Bacon Property Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Debtors |
2023 |
2022 |
|
Prepayments |
|
- |
|
- |
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Bank loans |
|
- |
Other loans |
264,394 |
- |
Accruals |
|
- |
|
- |
Creditors include bank loans which are secured against the properties they relate to in the sum of £238,500 (2022 - £Nil).
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
99.50 |
|
99.50 |
|
|
12.47 |
|
0.10 |
|
|
0.10 |
|
0.10 |
|
|
12.47 |
- |
- |
|
|
0.10 |
|
0.10 |
|
|
|
|
Bacon Property Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Related party transactions |
Other related party transactions
At the balance sheet date, included in creditors, is an amount of £202,859 (2022 - £Nil) due to two of the shareholders.
No interest was charged.