Company Registration No. 12646037 (England and Wales)
Brackendale Properties Ltd
Unaudited accounts
for the year ended 30 June 2024
Brackendale Properties Ltd
Company Information
for the year ended 30 June 2024
Directors
Catherine Bennett
Roy Bennett
Company Number
12646037 (England and Wales)
Accountants
Serena Bowe FCCA
MyFiscal Limited
North Hatley, Halls Lane
Waltham St Lawrence
Reading
RG10 0JB
Brackendale Properties Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
39,074
716
Investment property
959,973
955,000
Cash at bank and in hand
42,223
5,575
Creditors: amounts falling due within one year
(404,724)
(319,919)
Net current liabilities
(358,183)
(310,115)
Total assets less current liabilities
640,864
645,601
Creditors: amounts falling due after more than one year
(674,975)
(674,975)
Net liabilities
(34,111)
(29,374)
Called up share capital
4
4
Profit and loss account
(34,115)
(29,378)
Shareholders' funds
(34,111)
(29,374)
For the year ending 30 June 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by
Catherine Bennett
Director
Company Registration No. 12646037
Brackendale Properties Ltd
Notes to the Accounts
for the year ended 30 June 2024
Brackendale Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12646037.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & Machinery - 20% Reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company.
Brackendale Properties Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 July 2023
955,000
Investment properties comprises freehold properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties,
Amounts falling due within one year
Deferred tax asset
3,346
3,346
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
5,600
6,634
Loans from directors
398,124
308,551
Brackendale Properties Ltd
Notes to the Accounts
for the year ended 30 June 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
674,975
674,975
Aggregate of amounts that fall due for payment after five years
674,975
674,975
The long term loans are secured by a fixed charge over the investment properties.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).