Company Registration No. 07193477 (England and Wales)
Bros Property Development Ltd
Unaudited accounts
for the year ended 31 March 2023
Bros Property Development Ltd
Unaudited accounts
Contents
Bros Property Development Ltd
Company Information
for the year ended 31 March 2023
Director
Paul David Brothers
Company Number
07193477 (England and Wales)
Registered Office
Suite 1b1 Argyle House, Northside
Joel Street
Northwood
HA6 1NW
United Kingdom
Bros Property Development Ltd
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
15,954
18,036
Creditors: amounts falling due within one year
(117,155)
(124,510)
Net current assets
96,932
96,259
Total assets less current liabilities
160,554
159,937
Creditors: amounts falling due after more than one year
(38,868)
(38,868)
Provisions for liabilities
Net assets
121,675
121,058
Called up share capital
1
1
Profit and loss account
121,674
121,057
Shareholders' funds
121,675
121,058
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 March 2024 and were signed on its behalf by
Paul David Brothers
Director
Company Registration No. 07193477
Bros Property Development Ltd
Notes to the Accounts
for the year ended 31 March 2023
Bros Property Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 07193477. The registered office is Suite 1b1 Argyle House, Northside, Joel Street, Northwood, HA6 1NW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis
Fixtures & fittings
25% straight line basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Bros Property Development Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
289
4,217
4,506
At 31 March 2023
289
4,217
4,506
At 1 April 2022
233
4,217
4,450
Charge for the year
56
-
56
At 31 March 2023
289
4,217
4,506
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
63,622
Valuation at 31 March 2023
63,622
Amounts falling due within one year
Amounts due from group undertakings etc.
142,394
146,994
Other debtors
55,739
55,739
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
12,373
11,132
Amounts owed to group undertakings and other participating interests
49,980
57,430
Taxes and social security
-
641
Other creditors
28,388
35,893
Loans from directors
22,364
15,764
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 1 (2022: 0).