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REGISTERED NUMBER: 10218445 (England and Wales)



















BRIGGS PROPERTY CO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BRIGGS PROPERTY CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs M A Briggs
Mr I Briggs
Mr D J Briggs
Mrs N Briggs





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 10218445 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,195 2,040
Investment property 5 1,258,920 1,215,000
1,269,115 1,217,040

CURRENT ASSETS
Debtors 6 1,120 -
Cash at bank 6,322 3,433
7,442 3,433
CREDITORS
Amounts falling due within one year 7 327,287 392,202
NET CURRENT LIABILITIES (319,845 ) (388,769 )
TOTAL ASSETS LESS CURRENT LIABILITIES 949,270 828,271

CREDITORS
Amounts falling due after more than one year 8 (791,291 ) (692,044 )

PROVISIONS FOR LIABILITIES (21,301 ) (21,301 )
NET ASSETS 136,678 114,926

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 96,889 96,889
Retained earnings 39,689 17,937
SHAREHOLDERS' FUNDS 136,678 114,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Mrs M A Briggs - Director


BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

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


1. STATUTORY INFORMATION

Briggs Property Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the rental income received excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 7,065 349 7,414
Additions 8,981 - 8,981
At 30 June 2024 16,046 349 16,395
DEPRECIATION
At 1 July 2023 5,025 349 5,374
Charge for year 826 - 826
At 30 June 2024 5,851 349 6,200
NET BOOK VALUE
At 30 June 2024 10,195 - 10,195
At 30 June 2023 2,040 - 2,040

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 1,215,000
Additions 43,920
At 30 June 2024 1,258,920
NET BOOK VALUE
At 30 June 2024 1,258,920
At 30 June 2023 1,215,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2023 1,258,920

BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

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


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,117,895 1,080,900

Investment property was valued on a fair value basis on 30 June 2024 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,120 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 583 -
Corporation tax 3,190 478
Social security and other taxes 70 -
Other creditors 2,350 2,950
Directors' current accounts 314,619 380,043
Accruals and deferred income 6,475 8,731
327,287 392,202

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 96,850 100,000
Bank loans more 5 yrs non-inst 694,441 592,044
791,291 692,044

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 694,441 592,044

BRIGGS PROPERTY CO LIMITED (REGISTERED NUMBER: 10218445)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 791,291 692,044

Bank loans are secured against investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 96,889

12. RELATED PARTY DISCLOSURES

Included in current liabilities is a loan to the directors which has no fixed repayment terms and is interest free.