Bramall House Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04762185 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

BRAMALL HOUSE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

R J Exley

S A Exley

SECRETARY:

R J Exley

REGISTERED OFFICE:

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

REGISTERED NUMBER:

04762185 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

FIXED ASSETS

Tangible assets

4

3,431,088

2,846,326

CURRENT ASSETS

Debtors

5

143,167

10,660

Cash at bank

612,279

507,137

755,446

517,797

CREDITORS

Amounts falling due within one year

6

188,097

162,629

NET CURRENT ASSETS

567,349

355,168

TOTAL ASSETS LESS CURRENT LIABILITIES

3,998,437

3,201,494

CREDITORS

Amounts falling due after more than one year

7

(650,000

)

-

PROVISIONS FOR LIABILITIES

(91,522

)

(92,493

)

NET ASSETS

3,256,915

3,109,001

CAPITAL AND RESERVES

Called up share capital

7

7

Retained earnings

3,256,908

3,108,994

SHAREHOLDERS' FUNDS

3,256,915

3,109,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2021 and were signed on its behalf by:

R J Exley - Director

1.	STATUTORY INFORMATION

Bramall House Properties 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is recognised when it is probable that future economic benefits will flow to the company from its lease agreements and is measured as the fair value of consideration which the company expects to receive from those transactions. Turnover represents rental income from operating leases and is recognised on a straight line basis over the term of the lease. Lease incentives which are granted are included as part of the net consideration for the use of the property leased and are also recognised on a straight line basis.

Service charge income is recognised as revenue in the period to which it relates.

Management fee income is recognised as revenue in the period to which it relates.

Turnover is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

The company enters into basic financial instruments that give rise to financial assets and financial liabilities

including trade and other debtors, trade and other creditors, bank account balances, bank loans and other loans and borrowings and investments in certain non puttable and non convertible equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest. Debt instruments which are treated as financial assets and accounted for at amortised cost are also assessed for impairment.

Equity instruments are initially accounted for at transaction price. They are subsequently accounted for at cost unless they can be accounted for at fair value based on a readily available market price or fair value. Equity instruments which are treated as financial assets and accounted for at cost are also assessed for impairment.

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.

Investment properties

Investment properties are included in the balance sheet at their fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

investment

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 June 2020

2,796,000

50,747

258,600

3,676

3,109,023

Additions

537,089

-

11,334

-

548,423

Revaluations

59,911

-

-

-

59,911

At 31 May 2021

3,393,000

50,747

269,934

3,676

3,717,357

DEPRECIATION

At 1 June 2020

-

26,421

232,600

3,676

262,697

Charge for year

-

6,081

17,491

-

23,572

At 31 May 2021

-

32,502

250,091

3,676

286,269

NET BOOK VALUE

At 31 May 2021

3,393,000

18,245

19,843

-

3,431,088

At 31 May 2020

2,796,000

24,326

26,000

-

2,846,326

Cost or valuation at 31 May 2021 is represented by:

Freehold

Fixtures

investment

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Valuation in 2010

277,231

-

-

-

277,231

Valuation in 2011

304,365

-

-

-

304,365

Valuation in 2012

48,969

-

-

-

48,969

Valuation in 2013

50,000

-

-

-

50,000

Valuation in 2015

92,681

-

-

-

92,681

Valuation in 2016

92,170

-

-

-

92,170

Valuation in 2018

100,000

-

-

-

100,000

Valuation in 2019

(266,096

)

-

-

-

(266,096

)

Valuation in 2020

45,782

-

-

-

45,782

Valuation in 2021

59,911

-

-

-

59,911

Cost

2,587,987

50,747

269,934

3,676

2,912,344

3,393,000

50,747

269,934

3,676

3,717,357

If investment properties had not been revalued they would have been included at the following historical cost:

31.5.21

31.5.20

£

£

Cost

2,246,562

1,762,052

Investment properties were valued on an open market basis on 31 May 2021 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Other debtors

141,375

9,283

Prepayments

1,792

1,377

143,167

10,660

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Other loans

101,200

101,200

Corporation Tax

38,991

41,208

VAT

600

1,568

Other creditors

18,539

7,541

Directors' loan accounts

16,897

320

Accruals & deferred income

11,870

10,792

188,097

162,629

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans - 2-5 years

650,000

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2021 and 31 May 2020:

31.5.21

31.5.20

£

£

R J Exley

Balance outstanding at start of year

-

28,419

Amounts repaid

-

(28,419

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The director's loan account is repayable within 9 months of the balance sheet date. Interest is charged by the company at the statutory rate on overdrawn accounts in excess of £ 10,000 per director.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bramall House Properties Limited for the year ended 31 May 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bramall House Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bramall House Properties Limited and state those matters that we have agreed to state to the Board of Directors of Bramall House Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bramall House Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bramall House Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bramall House Properties Limited. You consider that Bramall House Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bramall House Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

20 October 2021