Breakell Properties Ltd 13630953 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the letting of investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true 13630953 2023-10-01 2024-09-30 13630953 2024-09-30 13630953 core:OtherReservesSubtotal 2024-09-30 13630953 core:RetainedEarningsAccumulatedLosses 2024-09-30 13630953 core:ShareCapital 2024-09-30 13630953 core:SharePremium 2024-09-30 13630953 core:CurrentFinancialInstruments 2024-09-30 13630953 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13630953 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 13630953 core:FurnitureFittingsToolsEquipment 2024-09-30 13630953 bus:SmallEntities 2023-10-01 2024-09-30 13630953 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13630953 bus:FullAccounts 2023-10-01 2024-09-30 13630953 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13630953 bus:RegisteredOffice 2023-10-01 2024-09-30 13630953 bus:Director1 2023-10-01 2024-09-30 13630953 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13630953 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 13630953 countries:EnglandWales 2023-10-01 2024-09-30 13630953 2023-09-30 13630953 core:FurnitureFittingsToolsEquipment 2023-09-30 13630953 2022-10-01 2023-09-30 13630953 2023-09-30 13630953 core:OtherReservesSubtotal 2023-09-30 13630953 core:RetainedEarningsAccumulatedLosses 2023-09-30 13630953 core:ShareCapital 2023-09-30 13630953 core:SharePremium 2023-09-30 13630953 core:CurrentFinancialInstruments 2023-09-30 13630953 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13630953 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 13630953 core:FurnitureFittingsToolsEquipment 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13630953

Breakell Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Breakell Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Breakell Properties Ltd

Company Information

Director

Ms Jane Elisabeth Breakell

Registered office

3 Carbery Avenue
Bournemouth
BH6 3LJ

Accountants

Pacific Limited
1st Floor, Woburn House
84 St Benedicts Street
Norwich
Norfolk
NR2 4AB

 

Breakell Properties Ltd

(Registration number: 13630953)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,229

1,775

Investment property

5

3,755,000

3,584,640

 

3,757,229

3,586,415

Current assets

 

Debtors

6

3,450

2,796

Cash at bank and in hand

 

34,161

36,975

 

37,611

39,771

Creditors: Amounts falling due within one year

7

(573,487)

(396,688)

Net current liabilities

 

(535,876)

(356,917)

Total assets less current liabilities

 

3,221,353

3,229,498

Creditors: Amounts falling due after more than one year

7

(1,216,932)

(1,372,145)

Provisions for liabilities

(39,012)

-

Net assets

 

1,965,409

1,857,353

Capital and reserves

 

Called up share capital

8

102

102

Share premium reserve

1,847,176

1,847,176

Other reserves

132,514

-

Profit and loss account

(14,383)

10,075

Shareholders' funds

 

1,965,409

1,857,353

For the financial year ending 30 September 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 her 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 March 2025

 

Ms Jane Elisabeth Breakell
Director

 

Breakell Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
3 Carbery Avenue
Bournemouth
BH6 3LJ
England

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The tax expense for the period comprises current and deferred tax.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Breakell Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Debtors
Debtors are amounts due from tenants for rent receivable and other associated letting fees in the ordinary course of the business.

Debtors are recognised at the transaction price. 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.

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 at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 2).

 

Breakell Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Plant and equipment
 £

Total
£

Cost

At 1 October 2023

2,252

2,252

Additions

1,029

1,029

At 30 September 2024

3,281

3,281

Depreciation

At 1 October 2023

477

477

Charge for the year

575

575

At 30 September 2024

1,052

1,052

Net book value

At 30 September 2024

2,229

2,229

At 30 September 2023

1,775

1,775

5

Investment property

2024
£

2023
£

At 1 October

3,584,640

3,584,640

Fair value adjustments

170,360

-

At 30 September

3,755,000

3,584,640

The properties were valued by the director at their market value using current market data for similar properties in the same areas.

6

Debtors

2024
£

2023
£

Prepayments

3,450

2,796

3,450

2,796

 

Breakell Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Bank loans

101,883

-

Trade creditors

1,606

-

Other creditors

5,426

5,080

Other loans

414,469

352,172

Accruals

50,103

39,436

573,487

396,688

Creditors include bank loans which are secured against the properties they relate to in the sum of £101,883 (2023 - £Nil)

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

1,216,932

1,372,145

1,216,932

1,372,145

Creditors include bank loans which are secured against the properties they relate to in the sum of £1,216,932 (2023 - £1,372,145).

Included in bank loans are amounts due, other than by instalments, after more than five years in the sum of £821,359 (2023 - £1,006,031).

 

Breakell Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £0.01 each

4,951

50

4,951

50

Ordinary B of £0.01 each

4,951

50

4,951

50

Ordinary C of £0.01 each

50

1

50

1

Ordinary D of £0.01 each

50

1

50

1

Ordinary E of £0.01 each

10

-

10

-

Ordinary F of £0.01 each

10

-

10

-

Ordinary G of £0.01 each

10

-

10

-

Ordinary H of £0.01 each

10

-

10

-

Ordinary I of £0.01 each

10

-

10

-

Ordinary J of £0.01 each

10

-

10

-

Ordinary K of £0.01 each

10

-

10

-

Ordinary L of £0.01 each

10

-

10

-

Ordinary M of £0.01 each

10

-

10

-

Ordinary N of £0.01 each

10

-

10

-

Ordinary O of £0.01 each

10

-

10

-

Ordinary P of £0.01 each

10

-

10

-

Ordinary Q of £0.10 each

10

1

10

1

 

10,132

102

10,132

102

9

Related party transactions

Directors’ loan

The director provided the company with a loan on which interest was charged at a market rate.

Other related party transactions

Some of the bank loans are secured by fixed charges and negative pledges against assets owned by a connected company.