Company registration number 10576219 (England and Wales)
BRADYPUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BRADYPUS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BRADYPUS LIMITED (REGISTERED NUMBER: 10576219)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
375
500
Investment property
4
930,263
958,356
930,638
958,856
Current assets
Debtors
5
10,241
-
0
Cash at bank and in hand
68,497
81,923
78,738
81,923
Creditors: amounts falling due within one year
6
(8,582)
(10,447)
Net current assets
70,156
71,476
Total assets less current liabilities
1,000,794
1,030,332
Creditors: amounts falling due after more than one year
7
(1,000,000)
(1,000,000)
Provisions for liabilities
-
0
(5,433)
Net assets
794
24,899
Capital and reserves
Called up share capital
8
100
100
Non-distributable profits reserve
9
-
0
22,501
Distributable profit and loss reserves
694
2,298
Total equity
794
24,899

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BRADYPUS LIMITED (REGISTERED NUMBER: 10576219)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 4 June 2024
Mrs L Y Bosco
Director
BRADYPUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Bradypus Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue represents rental income received during the period.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BRADYPUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023 and 31 March 2024
1,580
Depreciation and impairment
At 1 April 2023
1,080
Depreciation charged in the year
125
At 31 March 2024
1,205
Carrying amount
At 31 March 2024
375
At 31 March 2023
500
BRADYPUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 April 2023
958,356
Revaluations
(28,093)
At 31 March 2024
930,263

Investment property comprises properties at fair value of £930,263. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors best estimate. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
10,241
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
6,423
7,472
Other creditors
2,159
2,975
8,582
10,447
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,000,000
1,000,000

The other creditors is secured against the property in the company's name by way of a fixed and floating charge.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
BRADYPUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
22,501
22,755
Non distributable profits in the year
(22,501)
(254)
At the end of the year
-
22,501
10
Director's transactions

Included in other debtors is a directors loan account totalling £10,241 (2023: £916, included in other creditors). Interest of £19 has been charged on this balance. This balance was repaid within 9 months of the year end.

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