SJBrake Properties Limited 10110365 false 2022-04-30 2023-04-30 2023-04-30 The principal activity of the company is management of real estate and buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true 10110365 2022-04-30 2023-04-30 10110365 2023-04-30 10110365 bus:Director1 1 2023-04-30 10110365 bus:OrdinaryShareClass1 2023-04-30 10110365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 10110365 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 10110365 core:CurrentFinancialInstruments 2023-04-30 10110365 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10110365 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 10110365 core:FurnitureFittingsToolsEquipment 2023-04-30 10110365 core:MotorVehicles 2023-04-30 10110365 core:OtherPropertyPlantEquipment 2023-04-30 10110365 bus:SmallEntities 2022-04-30 2023-04-30 10110365 bus:AuditExemptWithAccountantsReport 2022-04-30 2023-04-30 10110365 bus:FullAccounts 2022-04-30 2023-04-30 10110365 bus:SmallCompaniesRegimeForAccounts 2022-04-30 2023-04-30 10110365 bus:RegisteredOffice 2022-04-30 2023-04-30 10110365 bus:Director1 2022-04-30 2023-04-30 10110365 bus:Director1 1 2022-04-30 2023-04-30 10110365 bus:OrdinaryShareClass1 2022-04-30 2023-04-30 10110365 bus:PrivateLimitedCompanyLtd 2022-04-30 2023-04-30 10110365 core:ComputerEquipment 2022-04-30 2023-04-30 10110365 core:FurnitureFittingsToolsEquipment 2022-04-30 2023-04-30 10110365 core:MotorVehicles 2022-04-30 2023-04-30 10110365 core:OtherPropertyPlantEquipment 2022-04-30 2023-04-30 10110365 core:PlantMachinery 2022-04-30 2023-04-30 10110365 countries:England 2022-04-30 2023-04-30 10110365 2022-04-29 10110365 bus:Director1 1 2022-04-29 10110365 core:FurnitureFittingsToolsEquipment 2022-04-29 10110365 core:MotorVehicles 2022-04-29 10110365 core:OtherPropertyPlantEquipment 2022-04-29 10110365 2021-04-30 2022-04-29 10110365 2022-04-29 10110365 bus:Director1 1 2022-04-29 10110365 bus:OrdinaryShareClass1 2022-04-29 10110365 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-04-29 10110365 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-04-29 10110365 core:CurrentFinancialInstruments 2022-04-29 10110365 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-29 10110365 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-29 10110365 core:FurnitureFittingsToolsEquipment 2022-04-29 10110365 core:MotorVehicles 2022-04-29 10110365 core:OtherPropertyPlantEquipment 2022-04-29 10110365 bus:Director1 1 2021-04-30 2022-04-29 10110365 bus:Director1 1 2021-04-29 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10110365

SJBrake Properties Limited

Annual Report and Unaudited Financial Statements

for the Period from 30 April 2022 to 30 April 2023

 

SJBrake Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

SJBrake Properties Limited

Company Information

Director

Mr Simon Brake

Registered office

33 Westbury Road
Yarnbrook
Trowbridge
Wiltshire
BA14 6AG

Accountants

BJP Finance Ltd
Chartered Accountants
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

 

SJBrake Properties Limited

(Registration number: 10110365)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

22,525

28,615

Current assets

 

Debtors

5

6,419

4,170

Cash at bank and in hand

 

5,128

5,135

 

11,547

9,305

Creditors: Amounts falling due within one year

6

(23,082)

(20,261)

Net current liabilities

 

(11,535)

(10,956)

Total assets less current liabilities

 

10,990

17,659

Creditors: Amounts falling due after more than one year

6

(9,145)

(12,685)

Provisions for liabilities

(3,400)

(4,431)

Net (liabilities)/assets

 

(1,555)

543

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(1,556)

542

Shareholders' (deficit)/funds

 

(1,555)

543

For the financial period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 April 2024
 

.........................................
Mr Simon Brake
Director

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
33 Westbury Road
Yarnbrook
Trowbridge
Wiltshire
BA14 6AG
England

These financial statements were authorised for issue by the director on 12 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

10% Straight Line

Computer Equipment

50% Straight Line

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 30 April 2022

1,237

23,700

10,854

35,791

Additions

-

-

200

200

At 30 April 2023

1,237

23,700

11,054

35,991

Depreciation

At 30 April 2022

1,237

2,963

2,976

7,176

Charge for the period

-

5,184

1,106

6,290

At 30 April 2023

1,237

8,147

4,082

13,466

Carrying amount

At 30 April 2023

-

15,553

6,972

22,525

At 29 April 2022

-

20,737

7,878

28,615

5

Debtors

Current

2023
£

2022
£

Trade debtors

4,210

1,959

Other debtors

2,209

2,211

 

6,419

4,170

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

12,458

12,804

Taxation and social security

 

9,484

6,407

Accruals and deferred income

 

1,140

1,050

 

23,082

20,261

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

9,145

12,685

 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

9,145

12,685

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

3,540

3,540

Other borrowings

8,918

9,264

12,458

12,804

Other borrowings
 

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £9,500.00 (2022 - £8,500.00) per ordinary share

 

9,500

 

8,500

         
 

SJBrake Properties Limited

Notes to the Unaudited Financial Statements for the Period from 30 April 2022 to 30 April 2023

10

Related party transactions

Transactions with the director

2023

At 30 April 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr Simon Brake

Directors Loan Account

(9,264)

19,258

(18,912)

(8,918)

         
       

 

2022

At 30 April 2021
£

Advances to director
£

Repayments by director
£

At 29 April 2022
£

Mr Simon Brake

Directors Loan Account

667

21,943

(31,874)

(9,264)

         
       

 

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

2022
£

Remuneration

9,100

8,862