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REGISTERED NUMBER: 09166741 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

BROWN & GRIMSEY PROPERTY LIMITED

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BROWN & GRIMSEY PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: A K Brown





REGISTERED OFFICE: Alexandra House
70 South Street
Manningtree
Essex
CO11 1DT





REGISTERED NUMBER: 09166741 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,901 2,377
Investment property 6 296,445 296,445
298,346 298,822

CURRENT ASSETS
Debtors 7 1,362 764
Cash at bank 8 11,577 14,927
12,939 15,691
CREDITORS
Amounts falling due within one year 9 214,559 210,148
NET CURRENT LIABILITIES (201,620 ) (194,457 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,726

104,365

CREDITORS
Amounts falling due after more than one
year

10

49,945

56,761
NET ASSETS 46,781 47,604

CAPITAL AND RESERVES
Called up share capital 13 1 1
Retained earnings 46,780 47,603
SHAREHOLDERS' FUNDS 46,781 47,604

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

BALANCE SHEET - continued
31 AUGUST 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 director and authorised for issue on 1 May 2024 and were signed by:





A K Brown - Director


BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Brown & Grimsey Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Summary of significant accounting policies
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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There were no judgment or material estimation uncertainties affecting the reported financial performance in the current or prior year.

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

Turnover is recognised when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met.

Turnover is recognised over the rental period.

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed asset begins when it is in the location and condition necessary available for the use intended.

Tangible fixed asset depreciation is included in administrative expenses in the Income Statement.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted 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 the Income Statement.

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares.

Taxation
Taxation for the year comprises current 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 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.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022
and 31 August 2023 5,705
DEPRECIATION
At 1 September 2022 3,328
Charge for year 476
At 31 August 2023 3,804
NET BOOK VALUE
At 31 August 2023 1,901
At 31 August 2022 2,377

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 296,445
NET BOOK VALUE
At 31 August 2023 296,445
At 31 August 2022 296,445

The investment property was purchased on 12 November 2014. The fair value of the property at 31 August 2023 has been arrived at on the basis of a valuation carried out by Mr A K Brown, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar commercial properties situated within the same location, which the director considers to give a fair value of the investment property held.

The director considers that the historical book value of £296,445 to be equal to the fair value of the property.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,362 764

8. CASH AT BANK
2023 2022
£    £   
Bank account 11,577 14,927

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 7,671 7,761
Amounts owed to related parties 149,740 149,740
Taxation and social security 3,346 3,225
Other creditors 53,802 49,422
214,559 210,148

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 11) 49,945 56,761

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,260 35,978

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,671 7,761

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,671 7,761

Amounts falling due between two and five years:
Bank loans - 2-5 years 23,014 13,022

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 19,260 35,978

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 57,616 64,522

A fixed charge exists on the Freehold property of 11 St. Peters Court, Colchester, Essex.

BROWN & GRIMSEY PROPERTY LIMITED (REGISTERED NUMBER: 09166741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,000 Ordinary £0.0005 1 1

14. DIRECTOR CREDIT

Included within other creditors at the balance sheet date is an amount of £46,759 (2022: £46,499) due to the director of the company.

15. RELATED PARTY DISCLOSURES

Other related parties

2023 2022
£ £
Sales to a related parties 17,000 17,000
Net amount due to related parties 149,740 149,740

The amounts shown above concern transactions with another company in which Mr A.K Brown has a controlling interest.