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REGISTERED NUMBER: 11957567 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

BREAKSPEARE PROPERTIES LIMITED

BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BREAKSPEARE PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2024







DIRECTORS: Mr Richard Breakspeare
Mrs Jane Breakspeare





SECRETARY: Mrs Jane Breakspeare





REGISTERED OFFICE: 22 Thorngrove Road
Wilmslow
Cheshire
SK9 1DE





REGISTERED NUMBER: 11957567 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

BALANCE SHEET
30th April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,042 1,508
Investment property 5 990,000 560,000
991,042 561,508

CURRENT ASSETS
Debtors 6 250 2,687
Cash at bank 4,270 3,079
4,520 5,766
CREDITORS
Amounts falling due within one year 7 (2,250 ) (2,650 )
NET CURRENT ASSETS 2,270 3,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

993,312

564,624

CREDITORS
Amounts falling due after more than one
year

8

(928,245

)

(524,387

)

PROVISIONS FOR LIABILITIES 10 (23,120 ) (10,554 )
NET ASSETS 41,947 29,683

CAPITAL AND RESERVES
Called up share capital 11 10 10
Fair value reserve 12 76,227 -
Retained earnings (34,290 ) 29,673
SHAREHOLDERS' FUNDS 41,947 29,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

BALANCE SHEET - continued
30th April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th January 2025 and were signed on its behalf by:





Mr Richard Breakspeare - Director


BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024


1. STATUTORY INFORMATION

Breakspeare Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11957567. The address of the registered office and principal place of business is 22 Thorngrove Road, Wilmslow, United Kingdom, SK9 1DE.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer equipment - 25 % straight line
Fixture and fittings - 20% Reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investment property
Investment property is shown at fair value at each balance sheet date. 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 profit and loss account, 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.


BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


2. ACCOUNTING POLICIES - continued
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.

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 comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter started at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st May 2023
and 30th April 2024 1,864
DEPRECIATION
At 1st May 2023 356
Charge for year 466
At 30th April 2024 822
NET BOOK VALUE
At 30th April 2024 1,042
At 30th April 2023 1,508

BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1st May 2023 560,000
Additions 398,647
Revaluations 31,353
At 30th April 2024 990,000
NET BOOK VALUE
At 30th April 2024 990,000
At 30th April 2023 560,000

The directors believe that the valuation of the property at the year end to be that of fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2,457
Prepayments and accrued income 250 230
250 2,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 534 1,066
Accruals and deferred income 1,716 1,584
2,250 2,650

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 640,597 371,705
Directors' loan accounts 287,648 152,682
928,245 524,387

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 640,597 371,705

BREAKSPEARE PROPERTIES LIMITED (REGISTERED NUMBER: 11957567)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


9. SECURED DEBTS

Lendivest Btl Limited registered a fixed charge over property and all assets of the company on 25 October 2019.

Paragon Bank PLC registered a fixed charge over property and all assets of the company on 24 January 2020.

Lendivest Btl Limited registered a fixed charge over property and all assets of the company on 7 May 2021.

Paragon Bank PLC registered a fixed charge over property and all assets of the company on 21 July 2023.

Paragon Bank PLC registered a fixed charge over property and all assets of the company on 27 March 2024.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 23,120 10,554

Deferred
tax
£   
Balance at 1st May 2023 10,554
Provided during year 12,566
Balance at 30th April 2024 23,120

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8 Ordinary A £1.00 8 8
2 Ordinary B £1.00 2 2
10 10

12. RESERVES
Fair
value
reserve
£   
Revaluation 76,227

At 30th April 2024 76,227