REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Bamboo Living Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Bamboo Living Ltd |
Bamboo Living Ltd (Registered number: 11189922) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Bamboo Living Ltd (Registered number: 11189922) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
Bamboo Living Ltd (Registered number: 11189922) |
Statement of Financial Position - continued |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bamboo Living Ltd (Registered number: 11189922) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Bamboo Living Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 statement of financial position date. |
Bamboo Living Ltd (Registered number: 11189922) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Unlisted |
investment |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Additions |
Revaluations | 13,105 |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Bamboo Living Ltd (Registered number: 11189922) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
5. | INVESTMENT PROPERTY - continued |
Investment property situated at 102 Penygraig Road, Penygraig, Tonypandy, CF40 1HB is under a charge from Ascot Bridging Finance 2 Limited. The charge was created on 20th March 2022. |
Investment property situated at 103 Penygraig Road, Penygraig, Tonypandy, CF40 1HB is under a charge from Ascot Bridging Finance 2 Limited. The charge was created on 20th December 2022. |
Investment property situated at 171 Court Street, Tonypandy, CF40 2RJ is under a charge from Onesavings Bank PLC. The charge was created on 24th November 2023. |
Fair value at 29 February 2024 is represented by: |
£ |
Valuation in 2024 | 13,105 |
Cost | 376,895 |
390,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Bamboo Living Ltd (Registered number: 11189922) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
The loan amounting to £96,067 is secured by the way of charge on the property situated at 102 Penygraig Road, Penygraig, Tonypandy, CF40 1HB (disclosed as investment property). The charge was created in the name of Ascot Bridging Finance 2 Limited on 20th December 2022. |
The loan amounting to £39,058 is secured by the way of charge on the property situated at 103 Penygraig Road, Penygraig, Tonypandy, CF40 1HB (disclosed as investment property). The charge was created in the name of Ascot Bridging Finance 2 Limited on 20th December 2022. |
The loan amounting to £113,850 is secured by the way of charge on the property situated at 171 Court Street, Tonypandy, CF40 2RJ (disclosed as investment property). The charge was created in the name of Onesavings Bank PLC on 24th November 2023. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Class A Redeemable | £5,00 | 0 | 65,000 | 80,000 |
65,100 | 80,100 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
Transfer to/from reserves | 13,105 |
At 29 February 2024 |
Bamboo Living Ltd (Registered number: 11189922) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
12. | RELATED PARTY DISCLOSURES |
The company owes £2,086 (2023: was owed £4,984) from its director, Mr Mark Charles Wilkinson who is also a 50% shareholder of the company as at accounting year end date. |
The company was owed £360 (2023: £360) as at accounting year end date from Court Street Limited, a company registered in United Kingdom (Company registered number: 13805854). Mr Mark Charles Wilkinson is also a director and 50% shareholder of this company. |
The company owes £37,500 (2023: £37,500) as at accounting year end date to Momentum Developments Ltd, a company registered in United Kingdom (Company registered number: 11564187). Mr Mark Charles Wilkinson and Miss Emma-Louise Knights are also directors and shareholders of this company holding 25% each in this company. |
The company owes £28,876 (2023: £48,000) as at accounting year end date to Hillmont Associates Limited, a company registered in United Kingdom (Company registered number: 11895646). Mr Mark Charles Wilkinson is also a director and sole shareholder of this company. |
The company owes £9,200 (2023: £14,000) as at accounting year end date to Life Remixed Ltd, a company registered in United Kingdom (Company registered number: 11607510). Mr Mark Charles Wilkinson is also a director and sole shareholder of this company. |
The company was owed £52,976 from Westbank Ltd, a company registered in United Kingdom (Company registered number: 10769302) as at accounting year end date. Mr Mark Charles Wilkinson and Miss Emma-Louise Knights are also directors and shareholders of this company holding 50% each in this company. |