Silverfin false false 31/05/2024 01/06/2023 31/05/2024 R K Trott 23/11/2015 31 October 2024 The principal activity of the Company during the financial year was that of a property investment and construction development company. 09885170 2024-05-31 09885170 bus:Director1 2024-05-31 09885170 2023-05-31 09885170 core:CurrentFinancialInstruments 2024-05-31 09885170 core:CurrentFinancialInstruments 2023-05-31 09885170 core:ShareCapital 2024-05-31 09885170 core:ShareCapital 2023-05-31 09885170 core:RetainedEarningsAccumulatedLosses 2024-05-31 09885170 core:RetainedEarningsAccumulatedLosses 2023-05-31 09885170 2023-06-01 2024-05-31 09885170 bus:FilletedAccounts 2023-06-01 2024-05-31 09885170 bus:SmallEntities 2023-06-01 2024-05-31 09885170 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09885170 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09885170 bus:Director1 2023-06-01 2024-05-31 09885170 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 09885170 (England and Wales)

BRAMLEYS PROPERTY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

BRAMLEYS PROPERTY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

BRAMLEYS PROPERTY INVESTMENTS LIMITED

BALANCE SHEET

As at 31 May 2024
BRAMLEYS PROPERTY INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 807,742 807,742
807,742 807,742
Current assets
Stocks 4 473,632 446,462
Debtors 5 14,774 23,624
Cash at bank and in hand 46,440 27,499
534,846 497,585
Creditors: amounts falling due within one year 6 ( 1,034,077) ( 983,987)
Net current liabilities (499,231) (486,402)
Total assets less current liabilities 308,511 321,340
Net assets 308,511 321,340
Capital and reserves
Called-up share capital 1 1
Profit and loss account 308,510 321,339
Total shareholder's funds 308,511 321,340

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Bramleys Property Investments Limited (registered number: 09885170) were approved and authorised for issue by the Director on 31 October 2024. They were signed on its behalf by:

R K Trott
Director
BRAMLEYS PROPERTY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
BRAMLEYS PROPERTY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bramleys Property Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Srk Scaffolding Ltd Haywards Lane, Chelston, Wellington, TA21 9FD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 June 2023 807,742
As at 31 May 2024 807,742

4. Stocks

2024 2023
£ £
Work in progress 473,632 446,462

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 9,274 18,124
Other debtors 5,500 5,500
14,774 23,624

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 580,048 530,425
Trade creditors 511 10
Amounts owed to Group undertakings 427,534 406,796
Taxation and social security 25,146 45,476
Other creditors 838 1,280
1,034,077 983,987

7. Related party transactions

Other related party transactions

SRK Scaffolding and Industrial Services Ltd is a company under common control and ownership. At the year end the company owed £126,000 (2023 - £81,286) to SRK Scaffolding and Industrial Services Ltd.

R & K Building Limited is a company under common control and ownership. At the year end the company owed £125,000 (2023 - £125,000) to R & K Building Limited.

Trottco Limited is a company under common control and ownership. At the year end the company owed £176,534 (2023 - £160,624) to Trottco Limited.

Mayfield Property Investments Limited is a related company. At the year end Mayfield Property Investments Limited owed £9,274 (2023 - £18,124) to the company.