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REGISTERED NUMBER: 10782683 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

BREMAGH PROPERTIES LTD

BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BREMAGH PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: G Holdstock
Mrs S W Holdstock





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 10782683 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 511,383 509,002

CURRENT ASSETS
Debtors 5 5,517 583
Cash at bank 15,518 15,049
21,035 15,632
CREDITORS
Amounts falling due within one year 6 421,892 426,999
NET CURRENT LIABILITIES (400,857 ) (411,367 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,526

97,635

PROVISIONS FOR LIABILITIES 12,473 12,473
NET ASSETS 98,053 85,162

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 53,175 53,175
Retained earnings 44,778 31,887
98,053 85,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

BALANCE SHEET - continued
31 May 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 6 December 2024 and were signed on its behalf by:




G Holdstock - Director



Mrs S W Holdstock - Director


BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Bremagh Properties Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Beckside Court, Annie Reed Road, Beverley, East Yorkshire, England,HU170LF.


The principal activity of the company is property rental.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future

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.

3. EMPLOYEES AND DIRECTORS

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

BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 509,002
Additions 2,381
At 31 May 2024 511,383
NET BOOK VALUE
At 31 May 2024 511,383
At 31 May 2023 509,002

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 65,648
Cost 445,735
511,383

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 583
Other debtors 5,517 -
5,517 583

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,783 4,890
Other creditors 417,109 422,109
421,892 426,999

7. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 53,175

BREMAGH PROPERTIES LTD (REGISTERED NUMBER: 10782683)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan to the company from its directors Mr & Mrs Holdstock.The balance outstanding at 31 May 2024 amounted to £414,932 (2023: £419,932)

The loan was made on an interest free basis and is repayable on demand.

Although the above liability is shown in current liabilities, the director's have confirmed that they will not demand repayment until the company has sufficient funds available. On this basis the company has prepared the accounts on a going concern basis.

9. ULTIMATE CONTROLLING PARTY

The company is under the control of it's director's.