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REGISTERED NUMBER: 05711264 (England and Wales)









BRAECROFT PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRAECROFT PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs E C Rosling
Mr D J P Rosling





SECRETARY: Rosling Associates Limited





REGISTERED OFFICE: Locks Farmhouse
Botley Road
Bishops Waltham
Southampton
Hampshire
SO32 1DR





REGISTERED NUMBER: 05711264 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,721 1,922
Investment property 5 1,280,000 1,280,000
1,291,721 1,281,922

CURRENT ASSETS
Debtors 6 815 752
Cash at bank 9,158 8,391
9,973 9,143
CREDITORS
Amounts falling due within one year 7 262,444 234,288
NET CURRENT LIABILITIES (252,471 ) (225,145 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,039,250

1,056,777

CREDITORS
Amounts falling due after more than one
year

8

(821,067

)

(853,809

)

PROVISIONS FOR LIABILITIES (41,650 ) (29,788 )
NET ASSETS 176,533 173,180

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 116,160 125,453
Retained earnings 60,273 47,627
SHAREHOLDERS' FUNDS 176,533 173,180

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

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

BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

BALANCE SHEET - continued
31 MARCH 2023


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 2023 and were signed on its behalf by:





Mrs E C Rosling - Director


BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Braecroft Properties Ltd 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.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

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 - 33% on cost

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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.


BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 33,394
Additions 16,283
At 31 March 2023 49,677
DEPRECIATION
At 1 April 2022 31,472
Charge for year 6,484
At 31 March 2023 37,956
NET BOOK VALUE
At 31 March 2023 11,721
At 31 March 2022 1,922

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,280,000
NET BOOK VALUE
At 31 March 2023 1,280,000
At 31 March 2022 1,280,000

BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 96,350
Valuation in 2018 58,530
Cost 1,125,120
1,280,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,125,120 1,125,120

Investment property was valued on an open market basis on 23 November 2016 by Humphreys and Dancer .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 815 752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 37,234 37,234
Loan from Rosling Associates 30,000 30,000
Corporation tax 1,172 5,507
Other creditors 1,495 500
Directors' current accounts 184,765 156,137
Accrued expenses 7,778 4,910
262,444 234,288

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 37,234 37,234
Bank loans - 2-5 years 111,703 111,703
Bank loans more 5 yr by instal 472,130 504,872
Directors' loan accounts 200,000 200,000
821,067 853,809

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 472,130 504,872

BRAECROFT PROPERTIES LTD (REGISTERED NUMBER: 05711264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 658,301 691,043