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Registration number: 03884933

Bourne Park Capital Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

(filleted for filing purposes)

 

Bourne Park Capital Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Bourne Park Capital Ltd

Company Information

Director

W Kerck

Company secretary

D Kerck

Registered office

Oswalds
Bishopsbourne
Canterbury
Kent
CT4 5JB

 

Bourne Park Capital Ltd

(Registration number: 03884933)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

258

Current assets

 

Debtors

5

296,643

284,552

Cash at bank and in hand

 

5,171

3,466

 

301,814

288,018

Creditors: Amounts falling due within one year

6

(154,522)

(143,296)

Net current assets

 

147,292

144,722

Total assets less current liabilities

 

147,292

144,980

Creditors: Amounts falling due after more than one year

6

(430,878)

(450,448)

Net liabilities

 

(283,586)

(305,468)

Capital and reserves

 

Called up share capital

7

200,000

200,000

Retained earnings

(483,586)

(505,468)

Shareholders' deficit

 

(283,586)

(305,468)

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.

Director's 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 February 2025
 

.........................................
W Kerck
Director

 

Bourne Park Capital Ltd

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.

The address of its registered office is:
Oswalds
Bishopsbourne
Canterbury
Kent
CT4 5JB

These financial statements were authorised for issue by the director on 26 February 2025.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Bourne Park Capital Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Bourne Park Capital Ltd

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 5).

 

Bourne Park Capital Ltd

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

44,207

44,207

Disposals

(42,603)

(42,603)

At 31 December 2023

1,604

1,604

Depreciation

At 1 January 2023

43,949

43,949

Charge for the year

258

258

Eliminated on disposal

(42,603)

(42,603)

At 31 December 2023

1,604

1,604

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

258

258

5

Debtors

Current

2023
£

2022
£

Trade debtors

296,643

283,043

Other debtors

-

1,509

 

296,643

284,552

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

4,997

-

Trade creditors

 

28,463

56,597

Other related parties

 

32,699

21,614

Taxation and social security

 

57,750

50,909

Other creditors

 

30,613

14,176

 

154,522

143,296

 

Bourne Park Capital Ltd

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

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

430,878

450,448

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

200,000

200,000

200,000

200,000

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,868

-

Bank overdrafts

129

-

4,997

-

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

40,815

45,385

Unsecured debentures

390,063

405,063

430,878

450,448

 

Bourne Park Capital Ltd

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

Other borrowings

As at 31 December 2023, the company had entered into five subordinated loans, all provided by W Kerck. The first was for £83,842 (entered into on 31 March 2015), the second for £166,158 (entered into on 20 April 2015), the third for £40,000 (entered into on 18 September 2015), the fourth for £62,000 (entered into on 30 December 2015) and the fifth for £40,000 (entered into on 31 March 2016) It was previously agreed to offset £1,937 of W Kerck's overdrawn director loan against the second loan which leaves the value of loan two as £164,221 at the year-end. A sixth loan for £15,000 (entered into on 30 June 2016) had matured during the year, and therefore was moved to the director's loan account due to the director.

Debenture loans one to five have a maturity date of 30 September 2025. All Debenture loans are subject to non-cumulative interest of 5% per annum subject to the financial profile of the company. In accordance with the interest payable terms of the subordinated loans no interest is payable in respect of the year ended 31 December 2023. The terms of the loans are consistent with the requirements of the Financial Conduct Authority so the subordinated loans can be included within the company's financial resources.

9

Related party transactions

Key management personnel

W Kerck Director

Summary of transactions with key management

At the year end, Bourne Park Capital Limited owed a balance of £422,450 (2022 - £426,676) to a W Kerck. This balance consists of £390,063 (2022 - £405,063) subordinated loans due to W Kerck (see note 8) and £32,387 (2022 - £21,613) director's loan account due to the W Kerck.