Brackens Elite Property Management Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04479260 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BRACKENS ELITE PROPERTY MANAGEMENT

LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Edward John Lawley

Mrs Michele Lawley

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

04479260 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

5

1,780

1,254

CURRENT ASSETS

Cash at bank

626,444

1,333,753

CREDITORS

Amounts falling due within one year

12,775

364,749

NET CURRENT ASSETS

613,669

969,004

TOTAL ASSETS LESS CURRENT LIABILITIES

615,449

970,258

CREDITORS

Amounts falling due after more than one year

325,000

650,000

NET ASSETS

290,449

320,258

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

290,447

320,256

SHAREHOLDERS' FUNDS

290,449

320,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 November 2023 and were signed on its behalf by:

Mr Edward John Lawley - Director

1.	STATUTORY INFORMATION

Brackens Elite Property Management 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2022

4,811

Additions

1,119

At 31 July 2023

5,930

DEPRECIATION

At 1 August 2022

3,557

Charge for year

593

At 31 July 2023

4,150

NET BOOK VALUE

At 31 July 2023

1,780

At 31 July 2022

1,254

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

7.	RELATED PARTY DISCLOSURES

Loan from directors

At the reporting date, Mr E J Lawley and Mrs M Lawley were owed £9,107 (2022: £70,108) by the company. This is an unsecured interest-free loan which is repayable on demand.

8.	ULTIMATE CONTROLLING PARTY