Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01The principal activity of the company is that of commercial property rental.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13281408 2022-04-01 2023-03-31 13281408 2021-03-21 2022-03-31 13281408 2023-03-31 13281408 2022-03-31 13281408 c:Director1 2022-04-01 2023-03-31 13281408 d:FreeholdInvestmentProperty 2023-03-31 13281408 d:FreeholdInvestmentProperty 2022-03-31 13281408 d:CurrentFinancialInstruments 2023-03-31 13281408 d:CurrentFinancialInstruments 2022-03-31 13281408 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13281408 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13281408 d:ShareCapital 2023-03-31 13281408 d:ShareCapital 2022-03-31 13281408 d:RetainedEarningsAccumulatedLosses 2023-03-31 13281408 d:RetainedEarningsAccumulatedLosses 2022-03-31 13281408 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 13281408 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 13281408 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13281408 c:OrdinaryShareClass1 2023-03-31 13281408 c:OrdinaryShareClass1 2022-03-31 13281408 c:FRS102 2022-04-01 2023-03-31 13281408 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13281408 c:FullAccounts 2022-04-01 2023-03-31 13281408 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13281408









BRACKLESHAM PROP CO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BRACKLESHAM PROP CO LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6

 
BRACKLESHAM PROP CO LTD
REGISTERED NUMBER: 13281408

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,893,462
2,893,462

  
2,893,462
2,893,462

Current assets
  

Debtors: amounts falling due within one year
 5 
763
691

Cash at bank and in hand
 6 
93,776
127,955

  
94,539
128,646

Creditors: amounts falling due within one year
 7 
(2,912,356)
(2,993,978)

Net current liabilities
  
 
 
(2,817,817)
 
 
(2,865,332)

Total assets less current liabilities
  
75,645
28,130

  

Net assets
  
75,645
28,130


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
75,644
28,129

  
75,645
28,130

Page 1

 
BRACKLESHAM PROP CO LTD
REGISTERED NUMBER: 13281408
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue and were signed by: 




G V Holmes
Director

Date: 15 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bracklesham Prop Co Ltd is a private company, limited by shares, incorporated in England and Wales with registration number 13281408. The registered office address is Eighth Floor 6 New Street Square, New Fetter Lane, London, United Kingdom, EC4A 3AQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

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

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The main revenue of the company is rental income receivable from the rental of company owned property to tenants. Rental income is paid quarterly in advance and is recognised as revenue at the end of the rental period to which it relates.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term 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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
2,893,462



At 31 March 2023
2,893,462

The director considers the investment property valued at cost reflects the fair value market at 31 March 2023.









5.


Debtors

2023
2022
£
£


Prepayments and accrued income
763
691



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
93,776
127,955


Page 5

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Loans to parent undertaking
2,854,495
2,935,654

Trade creditors
-
2,725

Corporation tax
11,253
6,598

Other taxation and social security
5,741
12,110

Accruals and deferred income
40,867
36,891

2,912,356
2,993,978



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
93,776
127,955




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


 
Page 6