Registered number
03602162
Broomhill Properties Ltd
Filleted Accounts
31 July 2024
Broomhill Properties Ltd
Registered number: 03602162
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 742,320 759,434
Current assets
Debtors 4 720 720
Cash at bank and in hand 20,722 7,255
21,442 7,975
Creditors: amounts falling due within one year 5 (255,967) (273,045)
Net current liabilities (234,525) (265,070)
Total assets less current liabilities 507,795 494,364
Creditors: amounts falling due after more than one year 6 (144,586) (146,580)
Provisions for liabilities (36,350) (37,112)
Net assets 326,859 310,672
Capital and reserves
Called up share capital 5,000 5,000
Revaluation reserve 8 151,248 154,498
Profit and loss account 170,611 151,174
Shareholder's funds 326,859 310,672
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G H Honigman
Director
Approved by the board on 7 February 2025
Broomhill Properties Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 888,920
At 31 July 2024 888,920
Depreciation
At 1 August 2023 129,486
Charge for the year 13,102
Surplus on revaluation 4,012
At 31 July 2024 146,600
Net book value
At 31 July 2024 742,320
At 31 July 2023 759,434
Freehold land and buildings: 2024 2023
£ £
Historical cost 674,605 674,605
Cumulative depreciation based on historical cost 84,504 71,402
590,101 603,203
4 Debtors 2024 2023
£ £
Other debtors 720 720
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,160 2,618
Taxation and social security costs 7,633 7,796
Other creditors 245,174 262,631
255,967 273,045
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 88,509 89,505
Other creditors 56,077 57,075
144,586 146,580
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 88,509 89,505
Secured bank loans 88,509 89,505
The loans are secured secured on freehold and long leasehold properties.
8 Revaluation reserve 2024 2023
£ £
At 1 August 2023 154,498 190,944
Loss on revaluation of land and buildings (4,012) (37,208)
Deferred taxation arising on the revaluation of land and buildings 762 762
At 31 July 2024 151,248 154,498
9 Related party transactions
At the year end the company owed £54,190 (2023 £73,275) to Cambridge Logic Ltd, Mr G Honigman is a director and shareholder of this company. The loan attracts interest is charged at 2.50% over the Bank of England base rate.
10 Other information
Broomhill Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Saxon Way
Waterbeach
Cambridge
Cambridgeshire
CB25 9RL
Broomhill Properties Ltd 03602162 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 G H Honigman No description of principal activity 03602162 2022-08-01 2023-07-31 03602162 core:RevaluationReserve core:LandBuildings 2022-08-01 2023-07-31 03602162 core:RevaluationReserve 2022-08-01 2023-07-31 03602162 core:WithinOneYear 2023-07-31 03602162 core:AfterOneYear 2023-07-31 03602162 core:ShareCapital 2023-07-31 03602162 core:OtherReservesSubtotal 2023-07-31 03602162 core:RetainedEarningsAccumulatedLosses 2023-07-31 03602162 core:RevaluationReserve 2022-07-31 03602162 2023-08-01 2024-07-31 03602162 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03602162 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03602162 bus:Director40 2023-08-01 2024-07-31 03602162 1 2023-08-01 2024-07-31 03602162 2 2023-08-01 2024-07-31 03602162 core:LandBuildings 2023-08-01 2024-07-31 03602162 core:RevaluationReserve core:LandBuildings 2023-08-01 2024-07-31 03602162 core:RevaluationReserve 2023-08-01 2024-07-31 03602162 countries:England 2023-08-01 2024-07-31 03602162 bus:FRS102 2023-08-01 2024-07-31 03602162 bus:FilletedAccounts 2023-08-01 2024-07-31 03602162 2024-07-31 03602162 core:WithinOneYear 2024-07-31 03602162 core:AfterOneYear 2024-07-31 03602162 core:ShareCapital 2024-07-31 03602162 core:OtherReservesSubtotal 2024-07-31 03602162 core:RetainedEarningsAccumulatedLosses 2024-07-31 03602162 core:LandBuildings 2024-07-31 03602162 core:RevaluationReserve 2024-07-31 03602162 2023-07-31 03602162 core:LandBuildings 2023-07-31 03602162 core:RevaluationReserve 2023-07-31 iso4217:GBP xbrli:pure