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REGISTERED NUMBER: 03982507 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BRECKENWOOD LIMITED

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRECKENWOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K Austreng
Mrs T A Austreng





SECRETARY: Mrs T A Austreng





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 03982507 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,356 67,990
Investments 5 50 50
Investment property 6 1,180,000 1,180,000
1,249,406 1,248,040

CURRENT ASSETS
Debtors 7 25,699 3,300
Cash at bank 18,530 259,481
44,229 262,781
CREDITORS
Amounts falling due within one year 8 92,968 313,641
NET CURRENT LIABILITIES (48,739 ) (50,860 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,200,667 1,197,180

PROVISIONS FOR LIABILITIES 26,457 25,854
NET ASSETS 1,174,210 1,171,326

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 403,596 403,596
Retained earnings 10 770,514 767,630
SHAREHOLDERS' FUNDS 1,174,210 1,171,326

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

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

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

BALANCE SHEET - continued
31 MARCH 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 15 October 2024 and were signed on its behalf by:





K Austreng - Director


BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Breckenwood 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.

The financial statements have been prepared on a going concern basis which is thought to be appropriate because the directors intend to provide additional funds to meet the company's liabilities as they fall due. The financial statements do not contain any adjustments that might be necessary if the additional funds were not available.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property
The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The method and significant assumptions used to determine the fair value of investment property are further explained in the notes to the financial statements.

Turnover
Turnover represents rent received from tenants.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 4 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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
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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Fixed asset investments
Listed investments are valued at fair value

3. EMPLOYEES AND DIRECTORS

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

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 69,187 48,008 117,195
Additions 6,100 - 6,100
At 31 March 2024 75,287 48,008 123,295
DEPRECIATION
At 1 April 2023 5,886 43,319 49,205
Charge for year 3,562 1,172 4,734
At 31 March 2024 9,448 44,491 53,939
NET BOOK VALUE
At 31 March 2024 65,839 3,517 69,356
At 31 March 2023 63,301 4,689 67,990

5. FIXED ASSET INVESTMENTS

Breckenwood Limited owns 50 ordinary shares of £1 each (50% holding) in Teffont Woodlands Limited, a company incorporated in England. The company has loaned £22,777 (2023 £1,114) to Teffont Woodlands Limited. At 31 March 2024 Teffont Woodlands Limited had aggregate capital and reserves of £199,584.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,180,000
NET BOOK VALUE
At 31 March 2024 1,180,000
At 31 March 2023 1,180,000

Investment property represents the company's portfolio of freehold properties. The fair value (open market basis) of investment property was assessed by the directors at 31 March 2024.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,180,000

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 120 442
Other debtors 25,579 2,858
25,699 3,300

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,162 3,450
Other creditors 90,806 310,191
92,968 313,641

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 100
50 Ordinary A £1 50 -
50 Ordinary B £1 50 -
100 100

During the year the one hundred £1 Ordinary shares were re-designated as 50 Ordinary A and 50 Ordinary B shares.

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 767,630 403,596 1,171,226
Profit for the year 11,484 - 11,484
Dividends (8,600 ) - (8,600 )
At 31 March 2024 770,514 403,596 1,174,110

Fair value reserve: Investment property

This reserve is used to record gains in the fair value of investment properties and losses to the extent that such a loss relates to a previous gain on the same asset. It is also used to record the corresponding deferred tax (charge)/credit on fair value changes in investment property.

BRECKENWOOD LIMITED (REGISTERED NUMBER: 03982507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

The directors have a loan account with the company, which stood at £88,463 in credit at 31 March 2024, (2023 £43,898). The company also has an interest in Teffont Woodlands Limited (see note 6).