Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-0122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06151356 2022-04-01 2023-03-31 06151356 2021-04-01 2022-03-31 06151356 2023-03-31 06151356 2022-03-31 06151356 2021-04-01 06151356 c:Director1 2022-04-01 2023-03-31 06151356 d:FurnitureFittings 2022-04-01 2023-03-31 06151356 d:FurnitureFittings 2023-03-31 06151356 d:FurnitureFittings 2022-03-31 06151356 d:LeaseholdInvestmentProperty 2023-03-31 06151356 d:LeaseholdInvestmentProperty 2022-03-31 06151356 d:CurrentFinancialInstruments 2023-03-31 06151356 d:CurrentFinancialInstruments 2022-03-31 06151356 d:Non-currentFinancialInstruments 2023-03-31 06151356 d:Non-currentFinancialInstruments 2022-03-31 06151356 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06151356 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06151356 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06151356 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06151356 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 06151356 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 06151356 d:ShareCapital 2023-03-31 06151356 d:ShareCapital 2022-03-31 06151356 d:ShareCapital 2021-04-01 06151356 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 06151356 d:OtherMiscellaneousReserve 2023-03-31 06151356 d:OtherMiscellaneousReserve 2021-04-01 2022-03-31 06151356 d:OtherMiscellaneousReserve 2022-03-31 06151356 d:OtherMiscellaneousReserve 2021-04-01 06151356 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06151356 d:RetainedEarningsAccumulatedLosses 2023-03-31 06151356 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 06151356 d:RetainedEarningsAccumulatedLosses 2022-03-31 06151356 d:RetainedEarningsAccumulatedLosses 2021-04-01 06151356 c:FRS102 2022-04-01 2023-03-31 06151356 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06151356 c:FullAccounts 2022-04-01 2023-03-31 06151356 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06151356 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 06151356










BRAYBURNE PROPERTIES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BRAYBURNE PROPERTIES LTD
REGISTERED NUMBER: 06151356

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
750,000
750,000

  
750,000
750,000

Current assets
  

Cash at bank and in hand
  
47,866
49,304

  
47,866
49,304

Creditors: amounts falling due within one year
 6 
(10,506)
(4,167)

Net current assets
  
 
 
37,360
 
 
45,137

Total assets less current liabilities
  
787,360
795,137

Creditors: amounts falling due after more than one year
 7 
(562,030)
(562,500)

Provisions for liabilities
  

Deferred tax
  
(21,484)
(21,485)

  
 
 
(21,484)
 
 
(21,485)

Net assets
  
203,846
211,152


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 9 
233,515
233,515

Profit and loss account
 9 
(29,769)
(22,463)

  
203,846
211,152


Page 1

 
BRAYBURNE PROPERTIES LTD
REGISTERED NUMBER: 06151356
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider 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 directors acknowledge their 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 by the board and were signed on its behalf by: 




A Parson
Director
Date: 11 March 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
BRAYBURNE PROPERTIES LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 April 2021
100
238,671
(22,711)
216,060


Comprehensive income for the year

Loss for the year
-
-
(4,908)
(4,908)

Transfer to/from profit and loss account
-
(5,156)
5,156
-



At 1 April 2022
100
233,515
(22,463)
211,152


Comprehensive income for the year

Loss for the year
-
-
(7,306)
(7,306)


At 31 March 2023
100
233,515
(29,769)
203,846


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Brayburne Properties Limited is a private company limited by shares and incorporated in England and Wales. The registered office address is 14th Floor, 33 Cavendish Square, London, W1G 0PW. The company's registered number is 06151356.

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

Revenue

Revenue represents rents and service charges receivable recognised in the period in which the
services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at
the beginning of the month for which the rental income relates. 

 
2.3

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.

 
2.4

Borrowing costs

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

Page 4

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

Page 5

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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. 

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 6

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


At 1 April 2022
1,426



At 31 March 2023

1,426



Depreciation


At 1 April 2022
1,426



At 31 March 2023

1,426



Net book value



At 31 March 2023
-



At 31 March 2022
-

Page 7

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2022
750,000



At 31 March 2023
750,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.






6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,660
510

Other creditors
3,702
657

Accruals and deferred income
3,144
3,000

10,506
4,167



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
562,030
562,500



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
562,030
562,500


Page 8

 
BRAYBURNE PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Reserves

Other reserves

The other reserves comprise the balance of revaluations relating to the investment property net of deferred tax on the gain. 

Profit and loss account

The profit and loss account comprise the balance of profits accumulated over the life of the company. 


10.


Related party transactions

Included within other creditors is an interest free loan due to the directors to the value of £3,702 (2022 - £657). 

 
Page 9