K Brown Property Investments Ltd 11407721 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is 68209 Digita Accounts Production Advanced 6.30.9574.0 true true 11407721 2023-06-01 2024-05-31 11407721 2024-05-31 11407721 core:RetainedEarningsAccumulatedLosses 2024-05-31 11407721 core:RevaluationReserve 2024-05-31 11407721 core:ShareCapital 2024-05-31 11407721 core:CurrentFinancialInstruments 2024-05-31 11407721 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 11407721 core:Non-currentFinancialInstruments 2024-05-31 11407721 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 11407721 core:FurnitureFittingsToolsEquipment 2024-05-31 11407721 core:MotorVehicles 2024-05-31 11407721 bus:SmallEntities 2023-06-01 2024-05-31 11407721 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11407721 bus:FullAccounts 2023-06-01 2024-05-31 11407721 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11407721 bus:RegisteredOffice 2023-06-01 2024-05-31 11407721 bus:Director1 2023-06-01 2024-05-31 11407721 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11407721 core:RevaluationReserve core:LandBuildings 2023-06-01 2024-05-31 11407721 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 11407721 core:LandBuildings 2023-06-01 2024-05-31 11407721 core:MotorVehicles 2023-06-01 2024-05-31 11407721 core:OfficeEquipment 2023-06-01 2024-05-31 11407721 countries:EnglandWales 2023-06-01 2024-05-31 11407721 2023-05-31 11407721 core:FurnitureFittingsToolsEquipment 2023-05-31 11407721 core:MotorVehicles 2023-05-31 11407721 2022-06-01 2023-05-31 11407721 2023-05-31 11407721 core:RetainedEarningsAccumulatedLosses 2023-05-31 11407721 core:RevaluationReserve 2023-05-31 11407721 core:ShareCapital 2023-05-31 11407721 core:CurrentFinancialInstruments 2023-05-31 11407721 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11407721 core:Non-currentFinancialInstruments 2023-05-31 11407721 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 11407721 core:FurnitureFittingsToolsEquipment 2023-05-31 11407721 core:MotorVehicles 2023-05-31 11407721 core:RevaluationReserve core:LandBuildings 2022-06-01 2023-05-31 11407721 core:LandBuildings 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 11407721

K Brown Property Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

K Brown Property Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

K Brown Property Investments Ltd

Company Information

Director

Mr Kelvin Brown

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

K Brown Property Investments Ltd

(Registration number: 11407721)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

11,809

13,350

Investment property

6

940,000

915,000

 

951,809

928,350

Current assets

 

Debtors

7

8,940

509

Cash at bank and in hand

 

18,673

24,569

 

27,613

25,078

Creditors: Amounts falling due within one year

8

(1,059)

(33)

Net current assets

 

26,554

25,045

Total assets less current liabilities

 

978,363

953,395

Creditors: Amounts falling due after more than one year

8

(620,686)

(647,092)

Provisions for liabilities

(67,741)

(62,991)

Net assets

 

289,936

243,312

Capital and reserves

 

Called up share capital

500

500

Revaluation reserve

288,791

268,541

Retained earnings

645

(25,729)

Shareholders' funds

 

289,936

243,312

For the financial 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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 13 February 2025
 

 

K Brown Property Investments Ltd

(Registration number: 11407721)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Mr Kelvin Brown
Director

 

K Brown Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 13 February 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.

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.

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.

 

K Brown Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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

Office Equipment

25% Straight Line

Motor Vehicles

10% Straight Line

Investment property

The fair value of the properties at the year end have been arrived at on the basis of a valuation carried out at that
date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at
by reference to the market evidence of transaction prices for similar properties in the location the properties are
situated.

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.

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 the director) during the year, was 1 (2023 - 0).

 

K Brown Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,541

1,541

 

K Brown Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

280

14,710

14,990

At 31 May 2024

280

14,710

14,990

Depreciation

At 1 June 2023

169

1,471

1,640

Charge for the year

70

1,471

1,541

At 31 May 2024

239

2,942

3,181

Carrying amount

At 31 May 2024

41

11,768

11,809

At 31 May 2023

111

13,239

13,350

6

Investment properties

2024
£

At 1 June

915,000

Fair value adjustments

25,000

At 31 May

940,000

7

Debtors

Current

2024
£

2023
£

Prepayments

55

509

Other debtors

8,885

-

 

8,940

509

8

Creditors

Creditors: amounts falling due within one year

 

K Brown Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

8

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

(16)

20

Taxation and social security

1,028

-

Accruals and deferred income

47

13

1,059

33

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

620,686

647,092

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

20,250

20,250

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

15,073

15,073

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,000

8,981

Other borrowings

614,686

638,111

620,686

647,092