Acorah Software Products - Accounts Production 15.0.600 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 12192337 Mr John Brady Mr Michael McDaid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12192337 2023-09-30 12192337 2024-09-30 12192337 2023-10-01 2024-09-30 12192337 frs-core:CurrentFinancialInstruments 2024-09-30 12192337 frs-core:RevaluationReserve 2023-09-30 12192337 frs-core:RevaluationReserve 2024-09-30 12192337 frs-core:ShareCapital 2024-09-30 12192337 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 12192337 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12192337 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 12192337 frs-bus:SmallEntities 2023-10-01 2024-09-30 12192337 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 12192337 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12192337 frs-bus:Director1 2023-10-01 2024-09-30 12192337 frs-bus:Director2 2023-10-01 2024-09-30 12192337 frs-countries:EnglandWales 2023-10-01 2024-09-30 12192337 2022-09-30 12192337 2023-09-30 12192337 2022-10-01 2023-09-30 12192337 frs-core:CurrentFinancialInstruments 2023-09-30 12192337 frs-core:RevaluationReserve 2023-09-30 12192337 frs-core:ShareCapital 2023-09-30 12192337 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 12192337
Braid Residential Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12192337
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 841,788 807,847
841,788 807,847
CURRENT ASSETS
Cash at bank and in hand 2,672 19,340
2,672 19,340
Creditors: Amounts Falling Due Within One Year 5 (652,399 ) (632,338 )
NET CURRENT ASSETS (LIABILITIES) (649,727 ) (612,998 )
TOTAL ASSETS LESS CURRENT LIABILITIES 192,061 194,849
PROVISIONS FOR LIABILITIES
Deferred Taxation (60,222 ) (45,768 )
NET ASSETS 131,839 149,081
CAPITAL AND RESERVES
Called up share capital 6 2 2
Revaluation reserve 7 240,886 240,886
Profit and Loss Account (109,049 ) (91,807 )
SHAREHOLDERS' FUNDS 131,839 149,081
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael McDaid
Director
06/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Braid Residential Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12192337 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 October 2023 807,847
Additions 33,941
As at 30 September 2024 841,788
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Page 4
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 721 660
Inter company account 651,678 631,678
652,399 632,338
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Reserves
Revaluation Reserve
£
As at 1 October 2023 240,886
As at 30 September 2024 240,886
8. Related Party Transactions
Included in the Other Creditors is an amount owed to Pipeline Utilities Ltd totalling £651,678 (2023 - £631,678), for which Mr M McDaid & Mr J Brady are directors. No interest is to be charged and no repayment terms have been agreed.
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