REGISTERED NUMBER: 05571432 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

CANYNGE BICKNELL (STREET) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J E Castell

REGISTERED OFFICE:

Bicknell House

Merstham Road

Bristol

BS2 9TQ

REGISTERED NUMBER:

05571432 (England and Wales)

AUDITORS:

Gravita Audit Western Limited

Chartered Accountants and Statutory Auditors

Bath House

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Investments

6

1

1

CURRENT ASSETS

Stocks

1,100,000

1,100,000

Debtors

7

35,844

251

Cash at bank

1,176

31,578

1,137,020

1,131,829

CREDITORS

Amounts falling due within one year

8

(1,760,794

)

(1,779,142

)

NET CURRENT LIABILITIES

(623,774

)

(647,313

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(623,773

)

(647,312

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

(623,873

)

(647,412

)

SHAREHOLDERS' FUNDS

(623,773

)

(647,312

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

J E Castell - Director

1.	COMPANY INFORMATION

Canynge Bicknell (Street) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of property development.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The main creditors of the company are related parties who have given an undertaking that they will not call in those liabilities for the foreseeable future and that they will facilitate the company to meet its liabilities as they fall due.

Therefore, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock and work in progress are stated at the lower of cost and net realisable value as follows:

Development land - purchase cost

Work in progress - the cost of materials and labour incurred at the balance sheet date

Net realisable value is based on the following:

Development property - open market value in existing condition and use

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial Liabilities

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises the current tax charge. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Group accounts

The company is entitled to the exemption under section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

2,250

1,050

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Street Business Park Management Company Limited

Registered office: England & Wales

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2024

2023

£

£

Aggregate capital and reserves

1

1

Street Business Park Management Company Limited is dormant and did not trade during the year.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

30,210

-

VAT

5,634

251

35,844

251

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

5

Amounts owed to group undertakings

1

1

Amounts owed to associates

1,755,648

1,721,166

Accruals and deferred income

5,145

57,970

1,760,794

1,779,142

9.

RESERVES

Retained earnings

Retained earnings represent cumulative profits and losses stated net of dividends and other adjustments.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Bracher BSc FCA (Senior Statutory Auditor)

for and on behalf of Gravita Audit Western Limited

11.	RELATED PARTY DISCLOSURES

During the year the company was charged interest by associated entities in respect of loans made to the company, as set out below:

Canynge Bicknell (Investments) Limited - £14,796 (2023 - £12,840)

Canynge Bicknell Limited - £65,881 (2023 - £58,015)

Subsequent to the year end, a formal deed of waiver was executed by the associated entities to waive the total interest charged on these loans. The amount waived totalled £135,571, which has been recognised in the profit and loss account as other income.

12.	POST BALANCE SHEET EVENTS

Subsequent to the year end, Canynge Bicknell (Street)'s ownership structure changed following a share buyback arrangement between its shareholders. On 30 January 2025, Canynge Bicknell Limited, Lenfestey (Estates) Holdings Limited and Canynge Properties Limited disposed of their entire shareholdings in the company, which were acquired by Bicknell Holdings Plc.

Furthermore, subsequent to the year end, formal agreements were signed with Canynge Bicknell Limited and Canynge Bicknell (Investments) Limited to waive £619,404 of the outstanding loans totalling £1,719,404 owed at 31 December 2024. Additionally, Canynge Bicknell (Street) secured a new loan facility with Bicknell Holdings Plc totalling £1,200,000. The facility was agreed after the year end and will be used in part to repay existing liabilities and strengthen the company's liquidity position. These events occurred after the reporting date and therefore have not been reflected in the financial statements.

13.	ULTIMATE CONTROLLING PARTY

The company does not have a controlling party.

Subsequent to the year end, Bicknell Holdings Plc became the ultimate controlling party of Canynge Bicknell (Street) Limited.