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REGISTERED NUMBER: 12220516 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Edward Braithwaite Holdings Limited

Edward Braithwaite Holdings Limited (Registered number: 12220516)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Edward Braithwaite Holdings Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr J B Clark
Mr D E Clark





REGISTERED OFFICE: 20b Coopies Haugh
Coopies Lane Industrial Estate
Morpeth
Northumberland
NE61 6JN





REGISTERED NUMBER: 12220516 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Edward Braithwaite Holdings Limited (Registered number: 12220516)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 5,943 6,603
Investment property 6 3,069,279 2,952,493
3,075,222 2,959,096

CURRENT ASSETS
Debtors 7 51,768 27,931
Cash at bank 99,713 -
151,481 27,931
CREDITORS
Amounts falling due within one year 8 (783,484 ) (811,447 )
NET CURRENT LIABILITIES (632,003 ) (783,516 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,443,219

2,175,580

CREDITORS
Amounts falling due after more than one
year

9

(943,218

)

(803,030

)

PROVISIONS FOR LIABILITIES (1,486 ) -
NET ASSETS 1,498,515 1,372,550

CAPITAL AND RESERVES
Called up share capital 1,379,116 1,379,116
Profit and loss account 119,399 (6,566 )
SHAREHOLDERS' FUNDS 1,498,515 1,372,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 2 October 2024 and were signed on its behalf by:




Mr D E Clark - Director



Mr J B Clark - Director


Edward Braithwaite Holdings Limited (Registered number: 12220516)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Edward Braithwaite Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Edward Braithwaite Holdings Limited (Registered number: 12220516)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 8,801
DEPRECIATION
At 1 June 2023 2,198
Charge for year 660
At 31 May 2024 2,858
NET BOOK VALUE
At 31 May 2024 5,943
At 31 May 2023 6,603

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,952,493
Additions 116,786
At 31 May 2024 3,069,279
NET BOOK VALUE
At 31 May 2024 3,069,279
At 31 May 2023 2,952,493

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,768 27,792
Other debtors - 139
51,768 27,931

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 59,334 70,612
Trade creditors 22,389 33,343
Taxation and social security 47,570 16,503
Other creditors 654,191 690,989
783,484 811,447

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 943,218 803,030

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 305,882 373,687

Edward Braithwaite Holdings Limited (Registered number: 12220516)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,002,552 861,887

The bank loans are secured by way of a fixed and floating charge over the property and contains a negative pledge.