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COMPANY REGISTRATION NUMBER: 03565572
Briarmeads Investments Limited
Filleted Unaudited Financial Statements
31 May 2024
Briarmeads Investments Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
611,841
612,246
Current assets
Cash at bank and in hand
19,316
21,588
Creditors: amounts falling due within one year
5
36,377
69,811
--------
--------
Net current liabilities
17,061
48,223
---------
---------
Total assets less current liabilities
594,780
564,023
Creditors: amounts falling due after more than one year
6
1,980
3,725
Provisions
Taxation including deferred tax
33,348
33,348
---------
---------
Net assets
559,452
526,950
---------
---------
Capital and reserves
Called up share capital
2
2
Fair value reserve
142,169
142,169
Profit and loss account
417,281
384,779
---------
---------
Shareholders funds
559,452
526,950
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Briarmeads Investments Limited
Statement of Financial Position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 18 February 2025 , and are signed on behalf of the board by:
Dr J Shah
Director
Company registration number: 03565572
Briarmeads Investments Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 95 Briarmeads, Oadby, Leicester, LE2 5WE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
Investment property
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Fixtures and fittings
Investment properties
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
29,675
611,699
641,374
--------
---------
---------
Depreciation
At 1 June 2023
29,128
29,128
Charge for the year
405
405
--------
---------
---------
At 31 May 2024
29,533
29,533
--------
---------
---------
Carrying amount
At 31 May 2024
142
611,699
611,841
--------
---------
---------
At 31 May 2023
547
611,699
612,246
--------
---------
---------
The directors consider that the investment properties are disclosed at their fair value.
Tangible assets held at valuation
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,704
2,186
Corporation tax
7,719
7,076
Other creditors
26,954
60,549
--------
--------
36,377
69,811
--------
--------
Bank loans due within one year amounting to £Nil (2023 - £523) are subject to a charge held by Cambridge & Counties Bank Limited over the property at 101a Briarmeads, Oadby.
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,980
3,725
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