Breeze Properties Limited 04991821 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the letting and operating of owned real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 04991821 2023-01-01 2023-12-31 04991821 2023-12-31 04991821 core:CurrentFinancialInstruments 2023-12-31 04991821 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04991821 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04991821 core:FurnitureFittings 2023-12-31 04991821 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 04991821 1 2023-12-31 04991821 bus:SmallEntities 2023-01-01 2023-12-31 04991821 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04991821 bus:FilletedAccounts 2023-01-01 2023-12-31 04991821 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04991821 bus:RegisteredOffice 2023-01-01 2023-12-31 04991821 bus:Director1 2023-01-01 2023-12-31 04991821 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04991821 countries:England 2023-01-01 2023-12-31 04991821 1 2023-01-01 2023-12-31 04991821 2022-12-31 04991821 core:FurnitureFittings 2022-12-31 04991821 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 04991821 1 2022-12-31 04991821 2022-01-01 2022-12-31 04991821 2022-12-31 04991821 core:CurrentFinancialInstruments 2022-12-31 04991821 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04991821 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04991821 core:FurnitureFittings 2022-12-31 04991821 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 04991821 1 2022-12-31 04991821 1 2022-01-01 2022-12-31 04991821 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 04991821

Breeze Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Breeze Properties Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Breeze Properties Limited

(Registration number: 04991821)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

335,000

335,000

Current assets

 

Debtors

5

62

62

Cash at bank and in hand

 

156,480

170,500

 

156,542

170,562

Creditors: Amounts falling due within one year

6

(108,924)

(118,153)

Net current assets

 

47,618

52,409

Total assets less current liabilities

 

382,618

387,409

Creditors: Amounts falling due after more than one year

6

(229,075)

(229,075)

Net assets

 

153,543

158,334

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

153,541

158,332

Shareholders' funds

 

153,543

158,334

For the financial year ending 31 December 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 year in question in accordance with section 476; and

The director acknowledges 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 19 August 2024
 


C R Arscott
Director

 

Breeze Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
15 Ramage Close
Plymouth
Devon
PL6 8SQ

Principal activity

The principal activity of the company is the letting and operating of owned real estate.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's director.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.

The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.

 

Breeze Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover represents the total rents receivable during the year.

Tax

The tax expense for the period comprises 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.

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 statement of financial position 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.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

 

Breeze Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

 

Breeze Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Freehold property
£

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 January 2023

335,000

5,569

340,569

At 31 December 2023

335,000

5,569

340,569

Depreciation

At 1 January 2023

-

5,569

5,569

At 31 December 2023

-

5,569

5,569

Carrying amount

At 31 December 2023

335,000

-

335,000

At 31 December 2022

335,000

-

335,000


Investment property

The investment properties are shown at market value. The market valuation of the investment property has been undertaken by the director based on market conditions.

5

Debtors

2023
£

2022
£

Other debtors

62

62

62

62

 

Breeze Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

-

7,483

Other creditors

108,924

110,670

108,924

118,153

Creditors: amounts falling due after more than one year

2023
£

2022
£

Loans and borrowings

229,075

229,075

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

This reserve contains accumulated undistributable reserves totalling £30,987 (2022: £30,987).

8

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Director

(107,370)

-

(45)

(107,415)

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Director

(103,185)

-

(4,185)

(107,370)