Registration number:
Bricks Capital Holdings 2 Limited
for the Year Ended 31 December 2023
Bricks Capital Holdings 2 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 |
Bricks Capital Holdings 2 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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Bricks Capital Holdings 2 Limited
(Registration number: 13997292)
Statement of Financial Position as at 31 December 2023
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Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(2,293,104) |
(401,627) |
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Shareholders' deficit |
(2,293,004) |
(401,527) |
Approved and authorised by the
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Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 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:
United Kingdom
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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.
Going concern
The financial statements have been prepared on a going concern basis as the Director is satisfied that the company has the resources to continue in business for the foreseeable future which has been taken as being at least twelve months from the date of approval of the financial statements. In forming this assessment, the Director has considered cashflow projections covering a period of at least twelve months from the date of approval of the financial statements.
Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 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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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.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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2 |
Accounting policies (continued) |
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 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.
Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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2 |
Accounting policies (continued) |
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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Investments |
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2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Provision |
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At 1 January 2023 |
- |
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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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At 31 December 2022 |
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Debtors |
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Current |
Note |
2023 |
2022 |
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Amounts owed by related parties |
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Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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- |
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Creditors: amounts falling due after more than one year
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Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2023 |
2022 |
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Bank borrowings |
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The loan is due for repayment in April 2027. Interest is charged at 18% on the loan and it is secured over the assets of the company.
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Contingent Liabilities |
The company has cross‑guaranteed group borrowings, meeting the definition of a contingent liability as set out in FRS 102, totalling £35.830m (2022: £37.008m).
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Related party transactions |
As permitted by FRS 102, the company has taken advantage of the exemption from disclosing the transactions entered into between wholly owned group companies and those group company transactions that have been performed on an arm’s length basis.
Bricks Capital Holdings 2 Limited
Notes to the Financial Statements for the Year Ended 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 Rs Lender Iv, S.a R.L. as Security Agent for the Finance Parties as follows:
- Fixed charge as per debenture dated 29th December 2023.
- Fixed charge relating to the "Sheffield Property" as per debenture dated 27th June 2022.
- Fixed and floating charge along with negative pledge relaring to "The Nottingham Property" as per security agreement dated 22nd April 2022.