Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseThe principal activity of the company is that of commercial property rental.11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13281408 2023-04-01 2024-03-31 13281408 2022-04-01 2023-03-31 13281408 2024-03-31 13281408 2023-03-31 13281408 c:Director1 2023-04-01 2024-03-31 13281408 d:FreeholdInvestmentProperty 2024-03-31 13281408 d:FreeholdInvestmentProperty 2023-03-31 13281408 d:CurrentFinancialInstruments 2024-03-31 13281408 d:CurrentFinancialInstruments 2023-03-31 13281408 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13281408 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13281408 d:ShareCapital 2024-03-31 13281408 d:ShareCapital 2023-03-31 13281408 d:RetainedEarningsAccumulatedLosses 2024-03-31 13281408 d:RetainedEarningsAccumulatedLosses 2023-03-31 13281408 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 13281408 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 13281408 c:OrdinaryShareClass1 2023-04-01 2024-03-31 13281408 c:OrdinaryShareClass1 2024-03-31 13281408 c:OrdinaryShareClass1 2023-03-31 13281408 c:FRS102 2023-04-01 2024-03-31 13281408 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13281408 c:FullAccounts 2023-04-01 2024-03-31 13281408 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13281408 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13281408









BRACKLESHAM PROP CO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BRACKLESHAM PROP CO LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
BRACKLESHAM PROP CO LTD
REGISTERED NUMBER: 13281408

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,893,462
2,893,462

  
2,893,462
2,893,462

Current assets
  

Debtors: amounts falling due within one year
 5 
39,847
763

Cash at bank and in hand
 6 
144,429
93,776

  
184,276
94,539

Creditors: amounts falling due within one year
 7 
(2,959,257)
(2,912,356)

Net current liabilities
  
 
 
(2,774,981)
 
 
(2,817,817)

Total assets less current liabilities
  
118,481
75,645

  

Net assets
  
118,481
75,645


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
118,480
75,644

  
118,481
75,645


Page 1

 
BRACKLESHAM PROP CO LTD
REGISTERED NUMBER: 13281408
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue and were signed by: 




G V Holmes
Director

Date: 21 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Bracklesham Prop Co Ltd is a private company, limited by shares, incorporated in England and Wales with registration number 13281408. The registered office address is Eighth Floor 6 New Street Square, New Fetter Lane, London, United Kingdom, EC4A 3AQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The main revenue of the company is rental income receivable from the rental of company owned property to tenants. Rental income is paid quarterly in advance and is recognised as revenue at the end of the rental period to which it relates.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

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

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the director 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. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,893,462



At 31 March 2024
2,893,462

The director considers the investment property valued at cost reflects the fair value market at 31 March 2024.







5.


Debtors

2024
2023
£
£


Trade debtors
39,000
-

Prepayments and accrued income
847
763

39,847
763



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
144,429
93,776


Page 5

 
BRACKLESHAM PROP CO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loans to parent undertaking
2,893,128
2,854,495

Trade creditors
2,971
-

Corporation tax
16,404
11,253

Other taxation and social security
5,554
5,741

Accruals and deferred income
41,200
40,867

2,959,257
2,912,356


The loans to parent undertakings are unsecured and repayable on demand. Interest is charged on the loan principal at a rate of 1.3327% and at a rate of 2.3327% on outstanding accrued interest.


8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
144,429
93,776




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1


 
Page 6