IRIS Accounts Production v23.3.1.45 06934432 Board of Directors Board of Directors Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069344322022-05-31069344322023-05-31069344322022-06-012023-05-31069344322021-05-31069344322021-06-012022-05-31069344322022-05-3106934432ns10:Originalns15:EnglandWales2022-06-012023-05-3106934432ns14:PoundSterlingns10:Original2022-06-012023-05-3106934432ns10:Originalns10:Director12022-06-012023-05-3106934432ns10:Original2022-06-012023-05-3106934432ns10:Originalns10:Director22022-06-012023-05-3106934432ns10:Originalns10:Director32022-06-012023-05-3106934432ns10:Original2023-05-3106934432ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3106934432ns10:Originalns10:SmallEntities2022-06-012023-05-3106934432ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3106934432ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3106934432ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3106934432ns10:Originalns10:FullAccounts2022-06-012023-05-3106934432ns10:Originalns10:Director42022-06-012023-05-3106934432ns10:Originalns10:RegisteredOffice2022-06-012023-05-3106934432ns10:Original2022-05-3106934432ns10:Originalns5:CurrentFinancialInstruments2023-05-3106934432ns10:Originalns5:CurrentFinancialInstruments2022-05-3106934432ns10:Originalns5:Non-currentFinancialInstruments2023-05-3106934432ns10:Originalns5:Non-currentFinancialInstruments2022-05-3106934432ns5:ShareCapitalns10:Original2023-05-3106934432ns5:ShareCapitalns10:Original2022-05-3106934432ns10:Originalns5:RevaluationReserve2023-05-3106934432ns10:Originalns5:RevaluationReserve2022-05-3106934432ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3106934432ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3106934432ns10:Original2021-06-012022-05-3106934432ns10:Original2022-05-3106934432ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3106934432ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3106934432ns10:Originalns5:RevaluationReserve2022-05-31
REGISTERED NUMBER: 06934432 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31st May 2023

for

Bracebridge Property Management Limited

Bracebridge Property Management Limited (Registered number: 06934432)

Contents of the Financial Statements
for the Year Ended 31st May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bracebridge Property Management Limited

Company Information
for the Year Ended 31st May 2023







DIRECTORS: Mrs C A Johnson
A M Johnson
C Johnson
W A Mottershead





REGISTERED OFFICE: 345 Walmley Road
Sutton Coldfield
West Midlands
B76 1PG





REGISTERED NUMBER: 06934432 (England and Wales)





ACCOUNTANTS: LBS Accountants
Old Coach House
67A Upper St John Street
LICHFIELD
Staffordshire
WS14 9DU

Bracebridge Property Management Limited (Registered number: 06934432)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,250,010 2,244,110

CURRENT ASSETS
Debtors 5 50,500 247
Cash at bank 44,304 98,957
94,804 99,204
CREDITORS
Amounts falling due within one year 6 1,030,240 1,535,017
NET CURRENT LIABILITIES (935,436 ) (1,435,813 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,314,574

808,297

CREDITORS
Amounts falling due after more than one
year

7

(383,168

)

-

PROVISIONS FOR LIABILITIES (100,827 ) (76,628 )
NET ASSETS 830,579 731,669

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 359,419 383,617
Retained earnings 471,060 347,952
830,579 731,669

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

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

Bracebridge Property Management Limited (Registered number: 06934432)

Balance Sheet - continued
31st May 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 9th October 2023 and were signed on its behalf by:




A M Johnson - Director C Johnson - Director




W A Mottershead - Director


Bracebridge Property Management Limited (Registered number: 06934432)

Notes to the Financial Statements
for the Year Ended 31st May 2023


1. STATUTORY INFORMATION

Bracebridge 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

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.

Hire purchase and leasing commitments
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 3 (2022 - 3 ) .

Bracebridge Property Management Limited (Registered number: 06934432)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2022 2,244,110
Additions 5,900
At 31st May 2023 2,250,010
NET BOOK VALUE
At 31st May 2023 2,250,010
At 31st May 2022 2,244,110

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 50,500 247

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 14,659 -
Taxation and social security 51,731 38,154
Other creditors 963,850 1,496,863
1,030,240 1,535,017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 383,168 -

8. RESERVES
Revaluation
reserve
£   
At 1st June 2022 383,617
Other movement - deferred tax (24,198 )

At 31st May 2023 359,419

9. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £250,677 (2022 - £941,253) due to Longmoor Care Limited, a company under the control of the directors. The loan is interest free and repayable on demand.

During the year £320,000 (2022 - £240,000) was received in rental income from Longmoor Care Limited.