Registration number:
Bubbles Realty Ltd
for the Year Ended 31 July 2024
Bubbles Realty Ltd
(Registration number: 08326701)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investment property |
|
|
|
Other financial assets |
250 |
250 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Other reserves |
409,873 |
260,023 |
|
Retained earnings |
151,437 |
139,636 |
|
Shareholders' funds |
561,410 |
399,759 |
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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.
Bubbles Realty Ltd
(Registration number: 08326701)
Balance Sheet as at 31 July 2024
Approved and authorised by the
......................................... |
Bubbles Realty Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable arising from the letting of the properties owned by the company in the ordinary course of the company’s activities.
Tax
The tax expense for the year comprises current tax, and is recognised in profit or loss.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than freehold properties, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
25% per annum on cost |
Bubbles Realty Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Investment property
Trade debtors
Trade debtors are amounts due from tenants for rent receivable in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially 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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Bubbles Realty Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Tangible assets |
Equipment |
Total |
|
Cost or valuation |
||
At 1 August 2023 |
|
|
At 31 July 2024 |
|
|
Depreciation |
||
At 1 August 2023 |
|
|
At 31 July 2024 |
|
|
Net book value |
||
At 31 July 2024 |
- |
- |
Investment properties |
2024 |
|
At 1 August |
|
Fair value adjustments |
|
At 31 July |
|
It is of the directors' belief that the investment properties are valued at a fair value.
Bubbles Realty Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 August 2023 |
250 |
250 |
At 31 July 2024 |
250 |
250 |
Impairment |
||
Carrying amount |
||
At 31 July 2024 |
|
250 |
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
- |
|
|
Creditors |
Amounts falling due within one year
2024 |
2023 |
|
Trade creditors |
|
|
Other creditors |
|
|
Corporation tax |
2,768 |
1,369 |
|
|
Amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Bubbles Realty Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
|
Other borrowings |
|
|
Bank borrowings
Contains fixed charge and negative pledge on 7 Bridge Court, Westbury, Wiltshire BA13 3FB. |
Related party transactions |
Summary of transactions with other related parties