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REGISTERED NUMBER: 07206139 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BROSNAN PROPERTY LIMITED

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)






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


BROSNAN PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: C M Sturt
Mrs J E Sturt





SECRETARY: Ellis Atkins Secretaries Limited





REGISTERED OFFICE: The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA





REGISTERED NUMBER: 07206139 (England and Wales)





ACCOUNTANTS: Ellis Atkins
Chartered Accountants
The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,391,285 1,414,423

CURRENT ASSETS
Debtors 5 98,909 92,867
Cash at bank and in hand 11,471 9,474
110,380 102,341
CREDITORS
Amounts falling due within one year 6 76,145 83,916
NET CURRENT ASSETS 34,235 18,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,425,520

1,432,848

CREDITORS
Amounts falling due after more than one year 7 1,329,000 1,331,778
NET ASSETS 96,520 101,070

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 133,118 133,118
Retained earnings (36,698 ) (32,148 )
SHAREHOLDERS' FUNDS 96,520 101,070

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.

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





C M Sturt - Director


BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

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

1. STATUTORY INFORMATION

Brosnan Property 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.

The director will provide support to the company for a period of at least 12 months following the approval of the financial statements. The financial statements have been prepared on the going concern basis.

Turnover
Turnover represents rental income from rental of office spaces, car parking spaces and storage containers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Freehold property is shown at open market value as estimated by the directors following the provisions of FRS 102 Section 17. Although this is not in accordance with the requirements of the Companies Act 2006, the directors consider that this policy results in the financial statements showing a true and fair view since the properties are held for investment and not for consumption. Revaluation surpluses are credited to the fair value reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 1,200,000 691,871 1,891,871
Additions - 22,612 22,612
Disposals - (11,746 ) (11,746 )
At 31 March 2023 1,200,000 702,737 1,902,737
DEPRECIATION
At 1 April 2022 - 477,448 477,448
Charge for year - 45,291 45,291
Eliminated on disposal - (11,287 ) (11,287 )
At 31 March 2023 - 511,452 511,452
NET BOOK VALUE
At 31 March 2023 1,200,000 191,285 1,391,285
At 31 March 2022 1,200,000 214,423 1,414,423

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 133,118 - 133,118
Cost 1,066,882 702,737 1,769,619
1,200,000 702,737 1,902,737

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

31/3/23 31/3/22
£    £   
Cost 1,066,882 1,066,882

Freehold land and buildings were valued on an open market basis on 31 March 2023 by the directors .

The net book value of tangible fixed assets includes £ 28,520 (2022 - £ 34,832 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 51,171 33,796
Other debtors 47,738 59,071
98,909 92,867

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts 3,551 5,936
Trade creditors 1,837 2,709
Other creditors 70,757 75,271
76,145 83,916

BROSNAN PROPERTY LIMITED (REGISTERED NUMBER: 07206139)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts - 2,778
Other creditors 1,329,000 1,329,000
1,329,000 1,331,778

8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 133,118