2023-08-012024-07-312024-07-31false12726562Brice Property Lettings 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Brice Property Lettings Ltd

Registered Number
12726562
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

Brice Property Lettings Ltd
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

Brice, Dominic Michael
Brice, Susan Margaret

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Place of Business

2 Gunville

Holwell

Sherborne

Dorset

DT9 5LL


Registered Number

12726562 (England and Wales)
Brice Property Lettings Ltd
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3859,000864,000
859,000864,000
Current assets
Debtors4386372
Cash at bank and on hand5,4563,380
5,8423,752
Creditors amounts falling due within one year5(173,104)(188,405)
Net current assets (liabilities)(167,262)(184,653)
Total assets less current liabilities691,738679,347
Creditors amounts falling due after one year6(553,800)(534,027)
Provisions for liabilities(26,185)(27,135)
Net assets111,753118,185
Capital and reserves
Called up share capital100100
Revaluation reserve111,632115,682
Profit and loss account212,403
Shareholders' funds7111,753118,185
The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2025, and are signed on its behalf by:
Brice, Susan Margaret
Director
Registered Company No. 12726562
Brice Property Lettings Ltd
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Deferred tax
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.
Investments
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.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments
If the investment properties had not been revalued they would have been included at historical cost, £721,183 (2023: £721,183). The investment properties were valued on an open market basis on 31/07/2024 by the directors

Total

£
Cost or valuation
At 01 August 23864,000
Revaluations(5,000)
At 31 July 24859,000
Net book value
At 31 July 24859,000
At 31 July 23864,000
4.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income386372
Total386372
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.
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties171,946187,301
Accrued liabilities and deferred income1,1581,104
Total173,104188,405
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts553,800534,027
Total553,800534,027
7.Revaluation reserve

£
Reserve at 01 August 23115,682
Revaluations of plant, property and equipment(5,000)
Deferred Tax on Revaluations950
At 31 July 24111,632