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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
547,107
18,044
54,132
72,176
474,931
529,063
18,681
3,114
9,340
12,454
6,227
15,567
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xbrli:shares
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14693830
2024-01-01
2024-12-31
14693830
2024-12-31
14693830
2023-12-31
14693830
2023-02-28
2023-12-31
14693830
2023-12-31
14693830
2023-02-27
14693830
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2024-12-31
14693830
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2024-12-31
14693830
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2023-12-31
14693830
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2024-12-31
14693830
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2024-12-31
14693830
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2023-12-31
14693830
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2024-12-31
14693830
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2023-12-31
14693830
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2024-12-31
14693830
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14693830
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2024-12-31
14693830
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2024-12-31
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2024-01-01
2024-12-31
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2024-12-31
14693830
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2024-12-31
COMPANY REGISTRATION NUMBER:
14693830
|
Buckingham Gate Estate Planning Ltd |
|
|
Filleted Unaudited Financial Statements |
|
|
Buckingham Gate Estate Planning Ltd |
|
31 December 2024
Fixed assets
|
Intangible assets |
5 |
474,931 |
529,063 |
|
Tangible assets |
6 |
6,227 |
15,567 |
|
--------- |
--------- |
|
481,158 |
544,630 |
|
|
|
|
Current assets
|
Stocks |
54,654 |
– |
|
Debtors |
7 |
76,986 |
42,771 |
|
Cash at bank and in hand |
34,181 |
26,191 |
|
--------- |
-------- |
|
165,821 |
68,962 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
270,864 |
197,060 |
|
--------- |
--------- |
|
Net current liabilities |
105,043 |
128,098 |
|
--------- |
--------- |
|
Total assets less current liabilities |
376,115 |
416,532 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
465,001 |
460,001 |
|
--------- |
--------- |
|
Net liabilities |
(
88,886) |
(
43,469) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
15 |
15 |
|
Profit and loss account |
(
88,901) |
(
43,484) |
|
-------- |
-------- |
|
Shareholders deficit |
(
88,886) |
(
43,469) |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Buckingham Gate Estate Planning Ltd |
|
|
Balance Sheet (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
20 August 2025
, and are signed on behalf of the board by:
Company registration number:
14693830
|
Buckingham Gate Estate Planning Ltd |
|
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In the second year of trade to 31 December 2024, the company made a loss and has negative capital and reserves. The shareholders have confirmed that their loans will stay in place as required by the company. The directors have therefore prepared the financial statements on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. A
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
|
Patents, trademarks and licences |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2023:
4
).
5.
Intangible assets
|
Patents, trademarks and licences |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
547,107 |
|
--------- |
|
Amortisation |
|
|
At 1 January 2024 |
18,044 |
|
Charge for the year |
54,132 |
|
--------- |
|
At 31 December 2024 |
72,176 |
|
--------- |
|
Carrying amount |
|
|
At 31 December 2024 |
474,931 |
|
--------- |
|
At 31 December 2023 |
529,063 |
|
--------- |
|
|
6.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
18,681 |
|
-------- |
|
Depreciation |
|
|
At 1 January 2024 |
3,114 |
|
Charge for the year |
9,340 |
|
-------- |
|
At 31 December 2024 |
12,454 |
|
-------- |
|
Carrying amount |
|
|
At 31 December 2024 |
6,227 |
|
-------- |
|
At 31 December 2023 |
15,567 |
|
-------- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
56,566 |
23,685 |
|
Other debtors |
20,420 |
19,086 |
|
-------- |
-------- |
|
76,986 |
42,771 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
45,566 |
5,123 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
4,938 |
122 |
|
Social security and other taxes |
41,581 |
29,635 |
|
Other creditors |
178,779 |
162,180 |
|
--------- |
--------- |
|
270,864 |
197,060 |
|
--------- |
--------- |
|
|
|
During the previous period, short term loans of £37,500 were advanced to the company, by 4 of the shareholders. The loan agreements specific no fixed repayment date and no interest is payable. The loans will be repaid by 31 December 2025.
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Other creditors |
465,001 |
460,001 |
|
--------- |
--------- |
|
|
|
During the year a further £5,000 was advanced in respect of one of the 4 shareholder loans. As at 31 December 2024, 3 have £115,000 outstanding and 1 has £120,000. The loan agreements do not specify a repayment date, but the directors expect to repay the loans after 31 December 2024. Interest at 6% is paid every month.
10.
Related party transactions
During the year, payments were made by Buckingham Gate Financial Services Ltd, on behalf o
f Buckingham Gate Estate Planning Ltd
, and reimbursed. As at 31 December 2024,£4,938 (2023 £121) was owed to Buckingham Gate Financial Services Ltd and will be repaid before 31 December 2025.