REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
BREAKSPEARE PROPERTIES LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
Additions |
Revaluations |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans more 5 yr by instal |
Directors' loan accounts | 287,648 | 152,682 |
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 |
Provided during year |
Balance at 30th April 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1.00 | 8 | 8 |
Ordinary B | £1.00 | 2 | 2 |
10 | 10 |
12. | RESERVES |
Fair |
value |
reserve |
£ |
Revaluation | 76,227 |
At 30th April 2024 |