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REGISTERED NUMBER: 06585042 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Brelades (Midlands) Ltd

Brelades (Midlands) Ltd (Registered number: 06585042)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brelades (Midlands) Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: L A Holder
S J Holder





REGISTERED OFFICE: The Old Piggery
Forest Road
Huncote
Leicester
Leicestershire
LE9 3LE





REGISTERED NUMBER: 06585042 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Brelades (Midlands) Ltd (Registered number: 06585042)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 3,265,000 3,265,000

CURRENT ASSETS
Debtors 5 42,423 55,574
Cash at bank 9,079 17,416
51,502 72,990
CREDITORS
Amounts falling due within one year 6 (196,100 ) (199,860 )
NET CURRENT LIABILITIES (144,598 ) (126,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,120,402

3,138,130

CREDITORS
Amounts falling due after more than one
year

7

(1,786,438

)

(1,796,438

)

PROVISIONS FOR LIABILITIES (323,750 ) (323,750 )
NET ASSETS 1,010,214 1,017,942

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 971,250 971,250
Retained earnings 38,864 46,592
SHAREHOLDERS' FUNDS 1,010,214 1,017,942

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Brelades (Midlands) Ltd (Registered number: 06585042)

Balance Sheet - continued
29 February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





L A Holder - Director


Brelades (Midlands) Ltd (Registered number: 06585042)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Brelades (Midlands) Ltd 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.

Going Concern
At the end of the year the company has net current liabilities. It is dependent on the support of the directors for the continuance of trade. The director intends to continue with such support. On that basis the directors considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of that support.

Turnover
Turnover on development revenue is recognised when sales of property are made and the title passes to the purchaser.
Rental income is recognised on a receivable basis during the year, exclusive of Value Added Tax.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Brelades (Midlands) Ltd (Registered number: 06585042)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 3,265,000
NET BOOK VALUE
At 29 February 2024 3,265,000
At 28 February 2023 3,265,000

The valuation of the investment property has been completed by the directors and is based on rental yield.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 42,423 55,574

Other debtors include prepayments and accrued income of £2,404 (2023: £1,493).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 15,979
Taxation and social security 18,640 19,203
Other creditors 167,460 154,678
196,100 199,860

Other creditors includes accruals and deferred income of £2,600 (2023: £2,500).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,500 22,500
Other creditors 1,773,938 1,773,938
1,786,438 1,796,438

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans over 5 years 1,773,938 1,773,938

Brelades (Midlands) Ltd (Registered number: 06585042)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Other loans 1,773,938 1,773,938

The other loans are secured by way of a fixed charge on the investment properties.