Bracebridge Asset Management Ltd - Accounts to registrar (filleted) - small 18.2
Bracebridge Asset Management Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2019 |
for |
Bracebridge Asset Management Ltd |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Bracebridge Asset Management Ltd |
Company Information |
for the Year Ended 31 March 2019 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Blackthorn House |
St Pauls Square |
Birmingham |
West Midlands |
B3 1RL |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Balance Sheet |
31 March 2019 |
31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Balance Sheet - continued |
31 March 2019 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
1. | STATUTORY INFORMATION |
Bracebridge Asset Management Ltd is a |
and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
The policies adopted for the recognition of turnover are as follows: |
Rents receivable | Turnover from property rentals is recognised on a straight-line basis over the lease term. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. |
Subsequently, they are measured at amortised cost using the effective interest rate method, less |
impairment. If an arrangement constitutes a financing transaction it is measured at amortised cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2018 |
and 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
It is the opinion of the director, that the fair value of the investment properties at 31 March 2019 are not |
materially different from their value on their initial recognition. |
The investment properties were revalued the director at 31 March 2019. The methods and significant |
assumptions used to ascertain the fair value and fair value movement included in the profit / loss for |
the year are that the director has based his opinion by reference to his knowledge of the condition of |
the properties and his judgement of the prevailing market prices for similar properties in the locality of |
the properties. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
Fixed and floating charges for the bank borrowings have been given against the investment properties. |
Bracebridge Asset Management Ltd (Registered number: 10665484) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |