Bradonsouth Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03990745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

BRADONSOUTH LIMITED

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Ms N W Shields

P Gibney

V Shields

SECRETARY:

Ms N Gibney

REGISTERED OFFICE:

2 Mitcham Road

London

SW17 9NA

REGISTERED NUMBER:

03990745 (England and Wales)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Clarendon Dock

Belfast

Co. Antrim

BT1 3BG

FIXED ASSETS

Investment property

4

800,000

800,000

CURRENT ASSETS

Cash at bank

190,667

252,312

CREDITORS

Amounts falling due within one year

5

274,312

395,237

NET CURRENT LIABILITIES

(83,645

)

(142,925

)

TOTAL ASSETS LESS CURRENT LIABILITIES

716,355

657,075

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

716,354

657,074

SHAREHOLDERS' FUNDS

716,355

657,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Comprehensive Income has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 25 February 2022 and were signed on its behalf by:

Ms N W Shields - Director

V Shields - Director

1.	STATUTORY INFORMATION

Bradonsouth 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.

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.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

The validity of this assumption depends on the continued support of the company's directors.

Based on the above, the directors believe it is appropriate to prepare accounts on the going concern basis.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's investment property. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors believe there to be no significant estimates in preparing these financial statements.

Turnover

Turnover represents net rents receivable, excluding value added tax.

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.

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

and 30 June 2021

800,000

NET BOOK VALUE

At 30 June 2021

800,000

At 30 June 2020

800,000

There were no changes to valuation of the investment properties in the current or preceding years.

Fair value at 30 June 2021 is represented by:

£

Valuation in 2014

(229,061

)

Cost

1,029,061

800,000

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

30.6.21

30.6.20

£

£

Cost

1,029,061

1,029,061

Aggregate depreciation

(280,514

)

(280,514

)

The investment properties were valued on an open market basis on 17 May 2016 by the directors. .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Taxation and social security

13,905

13,863

Other creditors

260,407

381,374

274,312

395,237

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

1

Ordinary

£1

1

1

7.	ULTIMATE CONTROLLING PARTY

The company continues to be controlled by its sole shareholder, A Gibney.