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Registration number: 14742428

BC Leeds DevCo Limited

Filleted Financial Statements

for the Period from 20 March 2023 to 31 December 2023

 

BC Leeds DevCo Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 8

 

BC Leeds DevCo Limited

Company Information

Director

P G Prickett

Registered office

167/169 Great Portland Street
London
Greater London
W1W5PF

Auditors

Innovi Advisors Ltd
Chartered Certified Accountants and Statutory Auditors163 Herne Hill
London
SE24 9LR

 

BC Leeds DevCo Limited

(Registration number: 14742428)
Statement of Financial Position as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

6,280,000

Current assets

 

Debtors

5

1,198,145

Creditors: Amounts falling due within one year

6

(7,088,976)

Net current liabilities

 

(5,890,831)

Total assets less current liabilities

 

389,169

Provisions for liabilities

(99,072)

Net assets

 

290,097

Capital and reserves

 

Called up share capital

7

100

Revaluation reserve

297,215

Retained earnings

(7,218)

Shareholders' funds

 

290,097

These financial statements have been prepared and 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 Income Statement.

Approved and authorised by the director on 20 May 2025
 

P G Prickett
Director

   
     
 

BC Leeds DevCo Limited

Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
167/169 Great Portland Street
London
Greater London
W1W5PF
England

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Disclosure of long or short period

The financial year end date has been changed to 31 December 2023 from 31 March 2024.

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)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. We 
draw
 attention 
to Going concern note
 to 
the
 financial 
statements 
which
 explains 
that 
the 
director 
intends 
to 
apply 
to 
strike 
off 
the company
 within
 12
 months
 of
 the
 date
 of
 approval
 of
 these
 financial
 statements
 and
 therefore
 does
 not
 consider
 it appropriate
 to
 adopt
 the 
going
 concern 
basis 
of 
accounting 
in
 preparing
 the
 financial
 statements.
 
Accordingly
 the
 financial statements 
have 
been 
prepared 
on
 a 
basis 
other
 than 
going 
concern
 as
 described 
in the 
Going concern note. Our 
opinion 
is 
not modified
 in respect
 of
 this
 matter..

The name of the Senior Statutory Auditor who signed the audit report on 20 May 2025 was Mr Sheetal Shah FCCA, who signed for and on behalf of Innovi Advisors Ltd.

.........................................

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)

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

 

BC Leeds DevCo Limited

Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Properties under construction
 £

Total
£

Cost or valuation

Revaluations

396,287

396,287

Additions

5,883,713

5,883,713

At 31 December 2023

6,280,000

6,280,000

Depreciation

At 20 March 2023

-

-

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

6,280,000

6,280,000

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.

5

Debtors

Current

Note

2023
£

Amounts owed by Group Undertakings

100

Prepayments

 

72,364

Other debtors

 

1,125,681

   

1,198,145

 

BC Leeds DevCo Limited

Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

4,826,661

Trade creditors

 

272,927

Amounts owed to related parties

1,986,527

Accruals and deferred income

 

2,861

 

7,088,976

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary share capital of £1 each

100

100

   

100 Ordinary shares of £1 each was issued during the period.

8

Loans and borrowings

Current loans and borrowings

2023
£

Other borrowings

4,826,661

 

BC Leeds DevCo Limited

Notes to the Financial Statements for the Period from 20 March 2023 to 31 December 2023 (continued)

9

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Bricks Group Holdings Limited, incorporated in United Kingdom.

The address of Bricks Group Holdings Limited is:
167/169 Great Portland Street, London, Greater London, England, W1W 5PF.

The ultimate controlling party is Peter Prickett.

10

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.