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REGISTERED NUMBER: 11833293 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BRIMM & SONS PROPERTIES LTD

BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)






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


BRIMM & SONS PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: J D Brimm
S D Dingain





REGISTERED OFFICE: 16 Maylam Gardens
Sittingbourne
Kent
ME10 1GB





REGISTERED NUMBER: 11833293 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 130,000

CURRENT ASSETS
Debtors 5 88 83
Cash at bank 150 164
238 247
CREDITORS
Amounts falling due within one year 6 47,536 37,655
NET CURRENT LIABILITIES (47,298 ) (37,408 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,702

92,592

CREDITORS
Amounts falling due after more than one
year

7

(72,578

)

(72,080

)

PROVISIONS FOR LIABILITIES (7,320 ) (5,870 )
NET ASSETS 12,804 14,642

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 21,961 17,611
Retained earnings (9,159 ) (2,971 )
12,804 14,642

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.

BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J D Brimm - Director


BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Brimm & Sons Properties 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.

Turnover
Turnover represents income from UK residential lettings; this income is exempt from VAT. Turnover is measured on an accruals basis to ensure that rental income is included for period of occupancy.

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
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash.

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.

BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The company has been reported on the going concern basis due to the continued support of the directors.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 130,000
Additions 4,200
Revaluations 5,800
At 29 February 2024 140,000
NET BOOK VALUE
At 29 February 2024 140,000
At 28 February 2023 130,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2020 10,000
Valuation in 2021 5,472
Valuation in 2022 8,009
Valuation in 2024 5,800
Cost 110,719
140,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 104,528 104,528

The investment property was valued on an open market basis on 28 February 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 88 83

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,918 2,918
Other creditors 44,618 34,737
47,536 37,655

BRIMM & SONS PROPERTIES LTD (REGISTERED NUMBER: 11833293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 72,578 72,080

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over more than 5 yrs by
instalments

60,908

60,410

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 75,496 74,998

The mortgage with The Mortgage Works (UK) PLC dated 18 June 2019 is secured on the investment property at Old Chester Road owned by the company. This is an interest only loan. A fixed charge also exists over this investment property and the business undertaken within it.