REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 23 MARCH 2023 TO 30 JULY 2024 |
FOR |
BROWNE ESTATES PM LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 23 MARCH 2023 TO 30 JULY 2024 |
FOR |
BROWNE ESTATES PM LIMITED |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 23 March 2023 to 30 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
BROWNE ESTATES PM LIMITED |
COMPANY INFORMATION |
for the Period 23 March 2023 to 30 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
STATEMENT OF FINANCIAL POSITION |
30 July 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 | ( |
) |
( |
) |
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. |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
STATEMENT OF FINANCIAL POSITION - continued |
30 July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 23 March 2023 to 30 July 2024 |
1. | STATUTORY INFORMATION |
Browne Estates PM Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises net rentals receivable, excluding value added tax, and arose wholly in the United Kingdom. |
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. |
Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
Impairment of assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss. |
Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
Financial instruments |
Short term financial assets, including trade, other debtors, creditors and related undertakings, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due. |
Short term financial liabilities, including trade and other creditors and bank balances, are measured at the |
transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. |
Taxation |
Taxation for the period 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 statement of financial position date. |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 23 March 2023 to 30 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 July 2024 |
NET BOOK VALUE |
At 30 July 2024 |
The investment properties have been included at their fair value at 30 July 2024 as determined by the directors. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to related undertakings | 37,698 |
Directors' current accounts | 27,163 |
Tax |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Tax |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 23 March 2023 to 30 July 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
Bank loans are secured by way of a legal charge against the investment properties. |
9. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 14,000 |
Deferred |
tax |
£ |
Charge to Income Statement during period |
Balance at 30 July 2024 |
10. | RESERVES |
Retained |
earnings |
£ |
Deficit for the period | ( |
) |
At 30 July 2024 | ( |
) |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 30 July 2024: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
Interest is being charged at 2.25%. |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
During the period the company advanced a total of £37,698 to other companies with a common director. £37,698 remains outstanding at the period end. |
BROWNE ESTATES PM LIMITED (REGISTERED NUMBER: 14753751) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 23 March 2023 to 30 July 2024 |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party are the directors by way of ownership of Browne Estates Limited, the ultimate parent company. |