Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12065326 2023-07-01 2024-06-30 12065326 2022-07-01 2023-06-30 12065326 2024-06-30 12065326 2023-06-30 12065326 2022-07-01 12065326 c:Director1 2023-07-01 2024-06-30 12065326 c:Director2 2023-07-01 2024-06-30 12065326 d:MotorVehicles 2023-07-01 2024-06-30 12065326 d:OfficeEquipment 2023-07-01 2024-06-30 12065326 d:OtherPropertyPlantEquipment 2024-06-30 12065326 d:OtherPropertyPlantEquipment 2023-06-30 12065326 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 12065326 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 12065326 d:FreeholdInvestmentProperty 2024-06-30 12065326 d:FreeholdInvestmentProperty 2023-06-30 12065326 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 12065326 d:CurrentFinancialInstruments 2024-06-30 12065326 d:CurrentFinancialInstruments 2023-06-30 12065326 d:Non-currentFinancialInstruments 2024-06-30 12065326 d:Non-currentFinancialInstruments 2023-06-30 12065326 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12065326 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12065326 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 12065326 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 12065326 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 12065326 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 12065326 d:ShareCapital 2024-06-30 12065326 d:ShareCapital 2023-06-30 12065326 d:RetainedEarningsAccumulatedLosses 2024-06-30 12065326 d:RetainedEarningsAccumulatedLosses 2023-06-30 12065326 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 12065326 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 12065326 d:OtherDeferredTax 2024-06-30 12065326 d:OtherDeferredTax 2023-06-30 12065326 c:OrdinaryShareClass1 2023-07-01 2024-06-30 12065326 c:OrdinaryShareClass1 2024-06-30 12065326 c:OrdinaryShareClass1 2023-06-30 12065326 c:FRS102 2023-07-01 2024-06-30 12065326 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12065326 c:FullAccounts 2023-07-01 2024-06-30 12065326 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12065326 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 12065326 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 12065326 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 12065326 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 12065326 d:HirePurchaseContracts d:MoreThanFiveYears 2024-06-30 12065326 d:HirePurchaseContracts d:MoreThanFiveYears 2023-06-30 12065326 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2024-06-30 12065326 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-06-30 12065326 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12065326









BRADLEY LETTINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
BRADLEY LETTINGS LIMITED
REGISTERED NUMBER: 12065326

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,958
39,920

Investment property
 5 
1,728,386
1,721,814

  
1,758,344
1,761,734

Current assets
  

Debtors: amounts falling due within one year
 6 
2,367
2,255

Cash at bank
  
50,747
49,635

  
53,114
51,890

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,293,365)
(1,319,277)

Net current liabilities
  
 
 
(1,240,251)
 
 
(1,267,387)

Total assets less current liabilities
  
518,093
494,347

Creditors: amounts falling due after more than one year
 8 
(365,391)
(367,523)

Provisions for liabilities
  

Deferred tax
 11 
(27,398)
(28,246)

Net assets
  
125,304
98,578


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
125,204
98,478

  
125,304
98,578


Page 1

 
BRADLEY LETTINGS LIMITED
REGISTERED NUMBER: 12065326

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Mr I M Bradley
Mrs A D Bradley
Director
Director


Date: 25 February 2025
Date:25 February 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Bradley Lettings Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 3rd Floor Office, 207 Regent Street, London, W1B 3HH. This Company is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Office equipment
-
10%
straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Other fixed assets

£



Cost


At 1 July 2023
70,935



At 30 June 2024

70,935



Depreciation


At 1 July 2023
31,015


Charge for the year on owned assets
35


Charge for the year on financed assets
9,927



At 30 June 2024

40,977



Net book value



At 30 June 2024
29,958



At 30 June 2023
39,920

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Other fixed assets
29,779
39,706

Page 7

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,721,814


Surplus on revaluation
6,572



At 30 June 2024
1,728,386


Comprising


Cost
1,648,749

Annual revaluation surplus/(deficit):


2023
73,065

2024
6,572

At 30 June 2024
1,728,386

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,648,749
1,648,749


6.


Debtors

2024
2023
£
£


Prepayments
2,367
2,255


Page 8

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
6,865
201

Obligations under finance lease and hire purchase contracts
2,132
2,132

Other creditors
1,277,123
1,311,701

Accruals and deferred income
7,245
5,243

1,293,365
1,319,277



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
330,725
330,725

Net obligations under finance leases and hire purchase contracts
34,666
36,798

365,391
367,523


Included within creditors are secured debts amounting to £36,798 (2023 - £38,930) which are secured on the fixed assets to which they relate.
Included within creditors are secured debts amounting to £330,725 (2023 - £330,725) which are secured via a fixed charge on the Company's assets.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due after more than 5 years

Bank loans
330,725
330,725


Page 9

 
BRADLEY LETTINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within 1 year
2,132
2,132

Between 1-5 years
34,666
2,132

Over 5 years
-
34,666

36,798
38,930


11.


Deferred taxation




2024
2023


£

£






At beginning of year
(28,246)
(2,340)


Charged to profit or loss
848
(25,906)



At end of year
(27,398)
(28,246)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(7,489)
(9,980)

Gain on investment property
(19,909)
(18,266)

(27,398)
(28,246)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Related party transactions

During the year the Company operated loans with the directors of the Company. The amount payable to the directors of the Company at the year end was £1,277,123 (2023 - £1,311,701). These loans are interest free and repayable on demand.


Page 10