REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
FOR |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
FOR |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02051447) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Britannic Property Developments Limited for the year ended 22 November 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Britannic Property Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britannic Property Developments Limited and state those matters that we have agreed to state to the Board of Directors of Britannic Property Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Britannic Property Developments Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Britannic Property Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Britannic Property Developments Limited. You consider that Britannic Property Developments Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Britannic Property Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02051447) |
BALANCE SHEET |
22 NOVEMBER 2023 |
22/11/23 | 22/11/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02051447) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Britannic Property Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Britannic Property Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Going concern |
The directors have prepared these accounts on a going concern basis and they have indicated their willingness to continue to support the company for the foreseeable future |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 23 November 2022 |
Disposals | ( |
) |
At 22 November 2023 |
NET BOOK VALUE |
At 22 November 2023 |
At 22 November 2022 |
BRITANNIC PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02051447) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 22 NOVEMBER 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 22 November 2023 |
NET BOOK VALUE |
At 22 November 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
22/11/23 | 22/11/22 |
£ | £ |
Amounts owed by group undertakings |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
22/11/23 | 22/11/22 |
£ | £ |
Amounts owed to group undertakings |
Accrued expenses |
8. | RELATED PARTY DISCLOSURES |
As at year ended 22 November 2023, the company owed £1,445,444 (2022: £1,379,698) to Britannic Trustees Limited, the ultimate parent company.The loan is interest free and repayable on demand. |
Amounts due from GLN Wrotham Limited of £1,953,374 has been written off as it is no longer recoverable. |
9. | ULTIMATE CONTROLLER |
The directors are the ultimate controllers as they hold all the issued share capital of the ultimate parent company. |