Brown's Properties Limited SC252556 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property letting Digita Accounts Production Advanced 6.30.9574.0 true SC252556 2023-04-01 2024-03-31 SC252556 2024-03-31 SC252556 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 SC252556 core:CurrentFinancialInstruments 2024-03-31 SC252556 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC252556 core:Non-currentFinancialInstruments 2024-03-31 SC252556 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC252556 core:FurnitureFittingsToolsEquipment 2024-03-31 SC252556 core:LandBuildings 2024-03-31 SC252556 bus:SmallEntities 2023-04-01 2024-03-31 SC252556 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC252556 bus:FullAccounts 2023-04-01 2024-03-31 SC252556 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC252556 bus:RegisteredOffice 2023-04-01 2024-03-31 SC252556 bus:Director1 2023-04-01 2024-03-31 SC252556 bus:Director2 2023-04-01 2024-03-31 SC252556 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 SC252556 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC252556 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 SC252556 core:LandBuildings 2023-04-01 2024-03-31 SC252556 core:MotorVehicles 2023-04-01 2024-03-31 SC252556 countries:Scotland 2023-04-01 2024-03-31 SC252556 2023-03-31 SC252556 core:FurnitureFittingsToolsEquipment 2023-03-31 SC252556 core:LandBuildings 2023-03-31 SC252556 2022-04-01 2023-03-31 SC252556 2023-03-31 SC252556 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 SC252556 core:CurrentFinancialInstruments 2023-03-31 SC252556 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC252556 core:Non-currentFinancialInstruments 2023-03-31 SC252556 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC252556 core:FurnitureFittingsToolsEquipment 2023-03-31 SC252556 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC252556

Brown's Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Brown's Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Brown's Properties Limited

Company Information

Directors

Mrs Karen Brown

Mr Stewart Cooper Brown

Registered office

Maythorne View
Thorn Highway
Chapelton
ML10 6SJ

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Brown's Properties Limited

(Registration number: SC252556)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

259,015

261,576

Current assets

 

Debtors

5

13,467

14,569

Cash at bank and in hand

 

98,658

135,284

 

112,125

149,853

Creditors: Amounts falling due within one year

6

(34)

(312)

Net current assets

 

112,091

149,541

Total assets less current liabilities

 

371,106

411,117

Creditors: Amounts falling due after more than one year

6

(8,766)

(12,667)

Net assets

 

362,340

398,450

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

362,336

398,446

Shareholders' funds

 

362,340

398,450

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 Board on 15 May 2024 and signed on its behalf by:
 

.........................................
Mr Stewart Cooper Brown
Director

 

Brown's Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Maythorne View
Thorn Highway
Chapelton
ML10 6SJ

The principal place of business is:
159 King Street
Glasgow
Lanarkshire
G73 1BZ
United Kingdom

These financial statements were authorised for issue by the Board on 15 May 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.

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.

 

Brown's Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Furniture & equipment

20% reducing balance

motor vehicles

20% 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

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.

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.

 

Brown's Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

248,769

26,096

274,865

At 31 March 2024

248,769

26,096

274,865

Depreciation

At 1 April 2023

-

13,289

13,289

Charge for the year

-

2,561

2,561

At 31 March 2024

-

15,850

15,850

Carrying amount

At 31 March 2024

248,769

10,246

259,015

At 31 March 2023

248,769

12,807

261,576

Included within the net book value of land and buildings above is £248,769 (2023 - £248,769) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

13,467

14,569

 

Brown's Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

34

312

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,766

12,667

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

8,766

12,667

9

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £9,000.00 (2023 - £10,750.00) per ordinary share

 

36,000

 

43,000