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REGISTERED NUMBER: SC589531 (Scotland)















BROWN PROPERTIES AND DEVELOPMENTS LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024






BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BROWN PROPERTIES AND DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: J W Brown
M Brown



REGISTERED OFFICE: 3 Redheugh Court
Kilbirnie
Ayrshire
KA25 7JN



REGISTERED NUMBER: SC589531 (Scotland)



ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT



BANKERS: Royal Bank of Scotland
Direct Business Banking
PO Box 5479
1 Spinningsfields Square
Manchester
M61 0NH

BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 130,000

CURRENT ASSETS
Stocks 3,906 593
Debtors 5 3,182 8,200
7,088 8,793
CREDITORS
Amounts falling due within one year 6 3,475 2,715
NET CURRENT ASSETS 3,613 6,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,613

136,078

CREDITORS
Amounts falling due after more than one
year

7

89,725

89,725
NET ASSETS 53,888 46,353

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 55,028 45,028
Retained earnings (1,240 ) 1,225
53,888 46,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

BALANCE SHEET - continued
29TH FEBRUARY 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 29th November 2024 and were signed on its behalf by:




J W Brown - Director



M Brown - Director


BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Brown Properties and Developments Ltd is a private company, limited by shares , registered in Scotland. 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.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

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

BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023 130,000
Revaluations 10,000
At 29th February 2024 140,000
NET BOOK VALUE
At 29th February 2024 140,000
At 28th February 2023 130,000

Fair value at 29th February 2024 is represented by:
£   
Valuation in 2021 35,028
Valuation in 2022 5,000
Valuation in 2023 5,000
Valuation in 2024 10,000
Cost 84,972
140,000

The valuation represents the directors' estimate based on their knowledge of the current market taking into consideration recent external valuations and property transactions after the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 782 -
Other debtors 2,400 8,200
3,182 8,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,404 465
Trade creditors 1,140 60
Taxation and social security - 1,260
Other creditors 931 930
3,475 2,715

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 89,725 89,725

BROWN PROPERTIES AND DEVELOPMENTS LTD (REGISTERED NUMBER: SC589531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 89,725 89,725

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 89,725 89,725

9. RESERVES
Revaluation
reserve
£   
At 1st March 2023 45,028
Revaluation in year 10,000

At 29th February 2024 55,028

10. RELATED PARTY DISCLOSURES

Debtors (note 5) includes an loan of £2,200 due from the directors at the balance sheet date. This loan was fully repaid during the current financial year.