Bauhaus Local Limited Filleted accounts for Companies House (small and micro)

BAUHAUS LOCAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12444335

Bauhaus Local Limited

Filleted Unaudited Financial Statements

31 July 2022

Bauhaus Local Limited

Financial Statements

Year ended 31 July 2022

Contents	Page

Balance sheet	1

Notes to the financial statements	3

Bauhaus Local Limited

Balance Sheet

31 July 2022

	2022		2021
Note	£	£	£	£

Current assets

Work in progress		802,809	785,908
Debtors	5	24,415	100
Cash at bank and in hand		1,778	295
		---------	---------
		829,002	786,303

Creditors: amounts falling due within one year	6	( 910,870)		( 750,537)
		---------		---------
Net current (liabilities)/assets			( 81,868)		35,766
			--------		--------
Total assets less current liabilities			( 81,868)		35,766

Creditors: amounts falling due after more than one year	7	( 28,337)	( 38,337)
		---------	--------
Net liabilities		( 110,205)	( 2,571)
		---------	--------

Bauhaus Local Limited

Balance Sheet (continued)

31 July 2022

	2022		2021
Note	£	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 110,305)	( 2,671)
	---------	-------
Shareholders deficit	( 110,205)	( 2,571)
	---------	-------

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 profit and loss account has not been delivered.

For the year ending 31 July 2022 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 .

These financial statements were approved by the board of directors and authorised for issue on 27 April 2023 , and are signed on behalf of the board by:

Mr S Soni

Director

Company registration number: 12444335

Bauhaus Local Limited

Notes to the Financial Statements

Year ended 31 July 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.

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 and in sterling, which is the functional currency of the entity.

Going concern

The directors acknowledge the losses for the period and with their continued support believe the company to be a going concern.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.

Work in progress

Work in progress is held at the lower of cost and net realised value; it includes the cost of the land and all other associated costs. No element of profit is realised in the valuation of work in progress.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

4. Other operating income

Other operating income is income received from Government grants.

5. Debtors

	2022	2021
	£	£
Other debtors	24,415	100
	--------	----

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	9,999	9,998
Other creditors	900,871	740,539
	---------	---------
	910,870	750,537
	---------	---------

7. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	28,337	38,337
	--------	--------

8. Related party transactions

Included in other debtors at the year end is a loan with a company which is jointly controlled by the directors of Bauhaus Local Limited . This loan is interest free and repayable on demand. There was no balance at the start of the year and at the end of the year Bauhaus Local Limited was owed £3,775. Included in other creditors at the year end is a loan with a company which is jointly controlled by the directors of Bauhaus Local Limited . This loan is interest free and repayable on demand. At the start of the year Bauhaus Local Limited owed £738,539 and at the end of the year Bauhaus Local Limited owed £897,871.