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REGISTERED NUMBER: 03294276 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)






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


BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M J Bray
T P Bray
M B Selcon





SECRETARY: Ellis Atkins Secretaries Limited





REGISTERED OFFICE: The Atrium Business Centre
Curtis Road
Dorking
Surrey
RH4 1XA





REGISTERED NUMBER: 03294276 (England and Wales)





ACCOUNTANTS: Ellis Atkins
Chartered Accountants
Constable Court
62 Dene Street
Dorking
Surrey
RH4 2DP

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,512 55,687
Investment property 5 - 950,000
31,512 1,005,687

CURRENT ASSETS
Debtors 6 885,338 1,393,504
Cash at bank and in hand 272,594 499,115
1,157,932 1,892,619
CREDITORS
Amounts falling due within one year 7 578,175 390,346
NET CURRENT ASSETS 579,757 1,502,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,269

2,507,960

CREDITORS
Amounts falling due after more than one
year

8

(4,500

)

(501,565

)

PROVISIONS FOR LIABILITIES - (62,622 )
NET ASSETS 606,769 1,943,773

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 327,200 -
Fair value reserve 10 - 264,578
Retained earnings 279,469 1,679,095
SHAREHOLDERS' FUNDS 606,769 1,943,773

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.

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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 24 September 2024 and were signed on its behalf by:




M J Bray - Director T P Bray - Director




M B Selcon - Director


BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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

1. STATUTORY INFORMATION

Bray Estates (Property Management) 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.

Turnover
Turnover consists of income derived from the normal operating activities of the company during the year, net of discounts and VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue based grants
Revenue based grants are recognised on an accruals basis in same period as the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 187,519
Additions 2,152
Disposals (21,098 )
At 31 March 2024 168,573
DEPRECIATION
At 1 April 2023 131,832
Charge for year 10,504
Eliminated on disposal (5,275 )
At 31 March 2024 137,061
NET BOOK VALUE
At 31 March 2024 31,512
At 31 March 2023 55,687

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 34,100
DEPRECIATION
At 1 April 2023 19,714
Charge for year 3,597
At 31 March 2024 23,311
NET BOOK VALUE
At 31 March 2024 10,789
At 31 March 2023 14,386

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 950,000
Additions 10,000
Disposals (960,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 950,000

6. DEBTORS
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Trade debtors 54,468 62,102
Other debtors 13,994 1,331,402
68,462 1,393,504

Amounts falling due after more than one year:
Amounts owed by group undertakings 816,876 -

Aggregate amounts 885,338 1,393,504

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 6,000 6,000
Trade creditors 4,281 832
Taxation and social security 100,612 379,715
Other creditors 467,282 3,799
578,175 390,346

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans - 491,065
Hire purchase contracts 4,500 10,500
4,500 501,565

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Commercial mortgage more than
5 years - 275,065
- 275,065

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans - 491,065

Fixed charges have been registered over the company's freehold properties.

BRAY ESTATES (PROPERTY MANAGEMENT)
LIMITED (REGISTERED NUMBER: 03294276)

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

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023 264,578
Transfer (264,578 )

At 31 March 2024 -

The fair value reserve represents the unrealised gain/loss on revaluation after adjusting for deferred tax. The fair value reserve is not distributable.

The non distributable reserve is the gain realised on the transfer of an investment property following a de-merger. The non distributable reserve is not distributable.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31/3/24 31/3/23
£    £   
M J Bray
Balance outstanding at start of year 1,304,999 -
Amounts advanced - 1,304,999
Amounts repaid (1,304,999 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,304,999