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REGISTERED NUMBER: 09351748 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BRAINTREE HOUSING COMPANY LIMITED

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRAINTREE HOUSING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J N Haylock
P I Haylock
Miss C Hunnable
J E Hunnable
Mrs P M Hunnable
P J Hunnable
M S Hunnable
Mrs E Goldmark
Mr D Beanland





SECRETARY: Mrs E Goldmark





REGISTERED OFFICE: 15 Glaston Road
Uppingham
Oakham
LE15 9PX





REGISTERED NUMBER: 09351748 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

BALANCE SHEET
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
11,169,000 Investment property 4 10,917,000

CURRENT ASSETS
10,646 Debtors 5 30,179
121,654 Cash at bank and in hand 442,208
132,300 472,387
CREDITORS
53,649 Amounts falling due within one year 6 119,295
78,651 NET CURRENT ASSETS 353,092
11,247,651 TOTAL ASSETS LESS CURRENT
LIABILITIES

11,270,092

CREDITORS
(337,609 ) Amounts falling due after more than one
year

7

(309,668

)

(429,915 ) PROVISIONS FOR LIABILITIES (567,197 )
10,480,127 NET ASSETS 10,393,227

CAPITAL AND RESERVES
21 Called up share capital 21
4,271,960 Fair value reserve 9 4,222,678
6,208,146 Retained earnings 6,170,528
10,480,127 SHAREHOLDERS' FUNDS 10,393,227

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

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

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.

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:




M S Hunnable - Director



Mrs E Goldmark - Director


BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

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

1. STATUTORY INFORMATION

Braintree Housing Company 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable for the year net of VAT where appropriate.

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 enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase contracts.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 11,169,000
Disposals (340,000 )
Revaluations 88,000
At 31 December 2023 10,917,000
NET BOOK VALUE
At 31 December 2023 10,917,000
At 31 December 2022 11,169,000

The fair value of the properties is represented by:-


£
Cost / valuation upon acquisition in 2015 8,616,803
Upwards valuation - 31 December 2016 143,164
Upwards valuation - 31 December 2017 556,000
Upwards valuation - 31 December 2018 343,000
Downwards valuation - 31 December 2019 (110,967 )
Upwards valuation - 31 December 2020 276,000
Upwards valuation - 31 December 2021 645,000
Cost / valuation disposals - 31 December 2021 (575,000 )
Cost of purchase - 31 December 2022 335,472
Upwards Valuation - 31 December 2022 939,528
Cost / valuation disposals - 31 December 2023 (340,000 )
Upwards Valuation - 31 December 2023 88,000

10,917,000

The freehold and leasehold property was revalued in December 2023 by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 18,531 5,378
Other debtors 11,648 5,268
30,179 10,646

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 27,942 26,302
Trade creditors 1,636 1,655
Taxation and social security 78,105 22,224
Other creditors 11,612 3,468
119,295 53,649

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 309,668 337,609

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5
years 177,426 213,711
177,426 213,711

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 337,610 363,911

The bank loan is secured by fixed and floating charges against the company, and is secured on commercial and residential property. The charges in are favour of Lloyds Bank PLC, and were created and registered in January and February 2017.

BRAINTREE HOUSING COMPANY LIMITED (REGISTERED NUMBER: 09351748)

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

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 4,271,960
Fair value reserve (49,282 )

At 31 December 2023 4,222,678

Included within reserves is a 'fair value reserve', which has been created through the process of revaluing the investment property to its open market value each year. The reserve is also adjusted each year for any deferred tax movements.

In accordance with FRS102, this reserve is a 'non-distributable' reserve, and is separately disclosed on the balance sheet.