Braemar Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02230344 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

BRAEMAR PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A J Marflow

Mrs S Marflow

REGISTERED OFFICE:

1 Sandiacre

Standish

Wigan

Lancashire

WN6 0TJ

REGISTERED NUMBER:

02230344 (England and Wales)

FIXED ASSETS

Tangible assets

2

2,333

1,536

Investment property

3

861,574

856,574

863,907

858,110

CURRENT ASSETS

Debtors

108,900

CREDITORS

Amounts falling due within one year

24,651

14,814

NET CURRENT ASSETS

84,249

94,086

TOTAL ASSETS LESS CURRENT LIABILITIES

948,156

952,196

CREDITORS

Amounts falling due after more than
one year

294,300

328,500

NET ASSETS

653,856

623,696

CAPITAL AND RESERVES

Called up share capital

4

229,500

Revaluation reserve

69,893

Profit and loss account

354,463

324,303

SHAREHOLDERS' FUNDS

653,856

623,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 June 2016 and were
signed on its behalf by:

A J Marflow - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the

company qualifies as a small company.

Turnover

Turnover represents rental income received. Rental income is recognised in the period to

which it relates.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is stated at original cost unless materially different to market value as

determined by the directors. Revaluation gains are credited to a revaluation reserve. Deficits

are charged against the revaluation reserve to the extent that the reserve is sufficient. Any

excess deficit is charged to the profit and loss account. No depreciation is provided on long

leasehold investment property following Statement of Standard Accounting Practice No.19.

Deferred tax

Deferred taxation - in accordance with the requirement of FRS 19, provision is made for all

taxation deferred as a result of differences in timing between the treatment of certain items

for taxation and accounting purposes. No provision is made if the amount involved is not

material to the financial position of the company.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

22,680

Additions

1,575

At 31 March 2016

24,255

DEPRECIATION

At 1 April 2015

21,144

Charge for year

778

At 31 March 2016

21,922

NET BOOK VALUE

At 31 March 2016

2,333

At 31 March 2015

1,536

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

856,574

Additions

5,000

At 31 March 2016

861,574

NET BOOK VALUE

At 31 March 2016

861,574

At 31 March 2015

856,574

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

118,250

A Ordinary shares

£1

118,250

1,250

B Ordinary Shares

£1

1,250

119,500

Allotted and issued:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1,100,000

C Ordinary Shares

10p

110,000

The A,B and C Ordinary shares rank pari passu as to dividends and voting rights.

The C Ordinary shares are redeemable at the option of the holder. The amount payable on

redemption is the amount paid up on each share revalued by reference to the Retail Price

Index plus 5% for each year the share has been held.

On winding up the holders of the C Ordinary shares are entitled to the amount paid up on

each share revalued by reference to the RPI plus 5.75% for each year the share has been

held.

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have made loans to the company. The loans were transacted on normal

commercial terms. No interest was charged for the year. 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.