Company Registration No. 11804049 (England and Wales)
Brickfield Properties Management Limited
Annual Report and Unaudited Financial Statements
For the period ended 30 November 2024
Brickfield Properties Management Limited
Company Information
Director
Mr D Lacmanovic
Secretary
Praxis Secretaries (UK) Limited
Company number
11804049
Registered office
5th Floor
2 Copthall Avenue
London
United Kingdom
EC2R 7DA
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
CONTENTS
Page
Director's report
1
Income statement
2
Statement of Financial Position
3
Statement of changes in equity
4
Notes to the financial statements
5 - 8
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 1 -

The Director presents its annual report and unaudited financial statements of Brickfield Properties Management Limited (the “Company”) for the Period ended 30 November 2024.

Principal activities

The principal activity of the Company is investment in real estate and rental from investment properties.

Results and dividends

The Statement of Comprehensive Income for the Period is set out on page 2.

Dividends paid for the period under review amounted to £NIL (2024: £NIL).

Director

The Director who held office during the Period and through to the date of signing of the financial statements was as follows:

Mr D Lacmanovic
Going concern

The Directors’ expect that the Company will not be operational 12 months from signing the Financial Statements as the Company ceased to trade on 1st February 2024 as all of the 8 investment properties were sold on that date. The Financial Statements have therefore been prepared on a basis other than going concern.

Company Secretary
The Company Secretary who held office throughout the Period and to the date of this report was Praxis Secretaries (UK) Limited .
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr D Lacmanovic
Director
12 March 2025
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
INCOME STATEMENT
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 2 -
Period
Year
ended
ended
30 November
29 February
2024
2024
£
£
Turnover
-
93,169
Cost of sales
-
0
(39,873)
Gross profit
-
53,296
Administrative expenses
(6,480)
(664,194)
Operating loss
(6,480)
(610,898)
Investment income
1,816
1,409
Interest payable and similar expenses
-
0
(69,943)
Other gains and losses
(23,540)
854,373
(Loss)/profit before taxation
(28,204)
174,941
Tax on (loss)/profit
-
0
-
0
(Loss)/profit for the financial Period
(28,204)
174,941

The income statement has been prepared on the basis that the company will not be operational 12 months from signing the financial statements.

BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2024
30 November 2024
- 3 -
30 November 2024
29 February 2024
Notes
£
£
£
£
Current assets
Debtors
3
-
0
142,570
Cash at bank and in hand
-
0
28,084
-
0
170,654
Creditors: amounts falling due within one year
4
(5,884)
(148,334)
Net current (liabilities)/assets
(5,884)
22,320
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss reserves
(6,884)
21,320
Total equity
(5,884)
22,320

For the financial Period ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The Director acknowledges its responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the Company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 12 March 2025
Mr D Lacmanovic
Director
Company registration number 11804049 (England and Wales)
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 March 2023
1,000
(153,621)
(152,621)
Year ended 29 February 2024:
Profit and total comprehensive income
-
174,941
174,941
Balance at 29 February 2024
1,000
21,320
22,320
Period ended 30 November 2024:
Loss and total comprehensive income
-
(28,204)
(28,204)
Balance at 30 November 2024
1,000
(6,884)
(5,884)
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 5 -
1
Accounting policies
Company information

Brickfield Properties Management Limited is a private company limited by shares incorporated on 4 February 2019 in England and Wales. The registered office is 5th Floor, 2 Copthall Avenue, London, United Kingdom, EC2R 7DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the UK Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in £, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The Directors’ expect that the Company will not be operational 12 months from signing the Financial Statements as the Company ceased to trade on 1st February 2024 as all of the 8 investment properties were sold on that date. The Financial Statements have therefore been prepared on a basis other than going concern.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.5
Financial instruments

The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

1.7
Taxation

The Company has exposure to the following potential tax liabilities:

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of persons (including directors) employed by the company during the year was:

2024
2024
Number
Number
Total
1
1
3
Debtors
2024
2024
Amounts falling due within one year:
£
£
Other debtors
-
0
142,570
BRICKFIELD PROPERTIES MANAGEMENT LIMITED
Brickfield Properties Management Limited
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 8 -
4
Creditors: amounts falling due within one year
2024
2024
£
£
Other borrowings
-
0
142,570
Trade creditors
244
-
0
Accruals and deferred income
5,640
5,764
5,884
148,334
5
Share capital
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1,000 Ordinary shares of £1.00 each
1,000
1,000
1,000
1,000
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