Braemar Properties Limited
Braemar Properties Limited
Registered number: 02230344
Financial Statements
For The Year Ended
31 March 2021
ADC Accountants Limited
Braemar Properties Limited
Financial Statements
For The Year Ended
31 March 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
Braemar Properties Limited
Balance Sheet
As at
31 March 2021
Balance Sheet
Registered number:
02230344
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 707,937 | 675,622 | |||
Braemar Properties Limited
Balance Sheet (continued)
As at
31 March 2021
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 6 form part of these financial statements.
Braemar Properties Limited
Notes to the Financial Statements
For The Year Ended
31 March 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover represents rental income received. Rental income is recognised in the period to which it relates.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Investment Properties
All investment properties are shown at most recent valuation.
Any aggregate surplus or deficit arising from changes in value is recognised in profit or loss.
1.5.
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.
Timing differences arise from the inclusion of income and expenes in tax in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using using tax rates and laws that have been enacted or substantively enacted by the balance sheets date and are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the exetent that it is probable that they will be recovered against the reversal of deferrred tax liabilities or other future profits.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2020: NIL)
Braemar Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2021
3.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at
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| Depreciation | |||
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| Provided during the period | - |
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| Net Book Value | |||
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| As at
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4.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Accruals and deferred income |
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5.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Shareholder loans |
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Braemar Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2021
7.
Directors' Advances, Credits and Guarantees
The directors have made loans to the compnay. The loans were transacted and interest charged on normal commercial terms. The company purchases property management and administrative services from companies in which the directors are materially interested as shareholders. All transactions are made on normal commercial terms.
8.
General Information
Braemar Properties Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02230344
. The registered office is 1 Sandiacre, Standish, Wigan, Lancashire, WN6 0TJ.