Registration number:
BC Leeds DevCo Limited
for the Period from 20 March 2023 to 31 December 2023
BC Leeds DevCo Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
BC Leeds DevCo Limited
Company Information
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Director |
P G Prickett |
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Registered office |
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Auditors |
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BC Leeds DevCo Limited
(Registration number: 14742428)
Statement of Financial Position as at 31 December 2023
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Note |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Revaluation reserve |
297,215 |
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Retained earnings |
(7,218) |
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Shareholders' funds |
290,097 |
Approved and authorised by the
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BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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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.
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
Disclosure of long or short period
Going concern
The director intends to apply to strike off the company within 12 months of the date of approval of these financial statements. Accordingly, the financial statements have not been prepared on a going concern basis. Assets have been recognised at the lower of their depreciated cost or recoverable amount and liabilities have been treated as short term. No provision has been made for the costs of striking off as the decision to strike off was made subsequent to the year end.
BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)
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2 |
Accounting policies (continued) |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
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Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)
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2 |
Accounting policies (continued) |
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 income statement 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.
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.
Financial instruments
Classification
BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
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Tangible assets |
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Properties under construction |
Total |
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Cost or valuation |
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Revaluations |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 20 March 2023 |
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- |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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Interest capitalised as properties under construction totals £17,439.91.
properties under construction were valued on an open market basis on 20th November 2023 by the director.
Revaluations are shown through the income statement and deferred tax is calculated on these as appropriate.
Any unrealized gains/losses on the revaluation of properties are shown in a non-distributable reserve on the statement of financial position.
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Debtors |
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Current |
Note |
2023 |
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Amounts owed by Group Undertakings |
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Prepayments |
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Other debtors |
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BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to related parties |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2023 |
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No. |
£ |
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100 |
100 Ordinary shares of £1 each was issued during the period.
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Loans and borrowings |
Current loans and borrowings
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2023 |
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Other borrowings |
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BC Leeds DevCo Limited
Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)
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Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Bricks Group Holdings Limited is:
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Off-balance sheet arrangements |
Charges
There exists charges over the company's assets in favour of Lw Sta 2 Limited as follows:
- Fixed charge with negative pledge over all property or undertaking of the company as per share charge dated 15th December 2023.
- Fixed and floating charge with negative pledge over land being 7-11 sheepscar grove, leeds LS7 1AH and 15-21 (odd), sheepscar grove, leeds LS7 1AH as per document dated 15th December 2023.