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REGISTERED NUMBER: 11979590 (England and Wales)










Financial Statements

for the Year Ended 31 May 2023

for

Briardene Assets Limited

Briardene Assets Limited (Registered number: 11979590)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Briardene Assets Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: A J Hookway
R Berry





REGISTERED OFFICE: Synergy House
Heavens Walk
Doncaster
DN4 5HZ





REGISTERED NUMBER: 11979590 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Briardene Assets Limited (Registered number: 11979590)

Balance Sheet
31 May 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 200,294 192,725

CURRENT ASSETS
Stocks - 44,284
Debtors 5 1,360 1,120
Cash at bank 23,196 2,264
24,556 47,668
CREDITORS
Amounts falling due within one year 6 (27,793 ) (26,877 )
NET CURRENT (LIABILITIES)/ASSETS (3,237 ) 20,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,057

213,516

CREDITORS
Amounts falling due after more than one year 7 (162,289 ) (209,206 )

PROVISIONS FOR LIABILITIES (5,218 ) (3,698 )
NET ASSETS 29,550 612

CAPITAL AND RESERVES
Called up share capital 150 150
Fair value reserve 9 22,243 15,763
Retained earnings 9 7,157 (15,301 )
29,550 612

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

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

Briardene Assets Limited (Registered number: 11979590)

Balance Sheet - continued
31 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 20 February 2024 and were signed on its behalf by:





A J Hookway - Director


Briardene Assets Limited (Registered number: 11979590)

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

1. STATUTORY INFORMATION

Briardene Assets 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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

Briardene Assets Limited (Registered number: 11979590)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 191,000 2,238 193,238
Revaluations 8,000 - 8,000
At 31 May 2023 199,000 2,238 201,238
DEPRECIATION
At 1 June 2022 - 513 513
Charge for year - 431 431
At 31 May 2023 - 944 944
NET BOOK VALUE
At 31 May 2023 199,000 1,294 200,294
At 31 May 2022 191,000 1,725 192,725

Cost or valuation at 31 May 2023 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2022 19,461 - 19,461
Valuation in 2023 8,000 - 8,000
Cost 171,539 2,238 173,777
199,000 2,238 201,238

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 1,360 -
Prepayments and accrued income - 1,120
1,360 1,120

Briardene Assets Limited (Registered number: 11979590)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 5,251 5,555
Trade creditors 67 -
Corporation tax 1,286 -
Other creditors - 54
Directors' current accounts 19,569 19,569
Accrued expenses 1,620 1,699
27,793 26,877

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans - 1-2 years 5,385 5,263
Bank loans - 2-5 years 16,985 16,601
Bank loans more 5 yr by instal 139,919 187,342
162,289 209,206

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 139,919 187,342

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Mortgage 126,833 168,933

Briardene Assets Limited (Registered number: 11979590)

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

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 4,719 15,763 20,482
Prior year adjustment (20,020 ) (20,020 )
(15,301 ) 462
Profit for the year 28,938 28,938
Other reserves (6,480 ) 6,480 -
At 31 May 2023 7,157 22,243 29,400

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.