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Registration number: 03461667

Bronzebrook Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Bronzebrook Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Bronzebrook Properties Limited

Company Information

Directors

Malcolm Crayton

Jeremy Lingard

Registered office

80-83 Long Lane
London
EC1A 9ET

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Bronzebrook Properties Limited

(Registration number: 03461667)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23

31

Investment property

5

960,677

960,677

 

960,700

960,708

Current assets

 

Debtors

6

4,550

899

Cash at bank and in hand

 

6,730

9,201

 

11,280

10,100

Creditors: Amounts falling due within one year

7

(5,415)

(12,111)

Net current assets/(liabilities)

 

5,865

(2,011)

Total assets less current liabilities

 

966,565

958,697

Provisions for liabilities

(177,539)

(177,539)

Net assets

 

789,026

781,158

Capital and reserves

 

Called up share capital

8

200

200

Share premium reserve

51,392

51,392

Other reserves

632,744

632,744

Retained earnings

104,690

96,822

Shareholders' funds

 

789,026

781,158

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

 

Bronzebrook Properties Limited

(Registration number: 03461667)
Balance Sheet as at 30 April 2024

.........................................
Malcolm Crayton
Director

 

Bronzebrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
80-83 Long Lane
London
EC1A 9ET
United Kingdom

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Bronzebrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25 % on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bronzebrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Other tangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

2,517

2,517

At 30 April 2024

2,517

2,517

Depreciation

At 1 May 2023

2,486

2,486

Charge for the year

8

8

At 30 April 2024

2,494

2,494

Carrying amount

At 30 April 2024

23

23

At 30 April 2023

31

31

5

Investment properties

2024
£

At 1 May

960,677

At 30 April

960,677

Investment property is included at fair value and gains are recognised in the profit and loss account. Fair value is the amount for which the asset could be exchanged between knowledgeable and willing parties in an arm’s length transaction. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No valuation by an independent valuer has taken place during the year. The directors believe the carried forward value is an accurate reflection of the value of the property.

 

Bronzebrook Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,776

-

Other debtors

774

899

 

4,550

899

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

5,107

1,405

Other creditors

308

10,706

5,415

12,111

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

       

9

Related party transactions

Summary of transactions with other related parties

Form Design Architecture Limited, a UK resident company in which M Crayton and J Lingard are directors.

The company rents its investment property to Form Design Architecture Limited under the terms of a formal agreement between both parties. During the year, the loan owed by the company to Form Design Architecture Limited was settled in full (2023 - £10,397 owed to Form Design Architecture Limited).

At the balance sheet date, the directors loan account was overdrawn by £724 (2023 - £724).

 

10

Parent and ultimate parent undertaking

The ultimate controlling party is the directors.