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REGISTERED NUMBER: 09732804 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

RICHARD AND LISA BRETT PROPERTIES LTD

RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

RICHARD AND LISA BRETT PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: R I Brett
L Brett





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: 09732804 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 10,904 14,523
Investment property 5 3,765,000 3,765,244
3,775,904 3,779,767

CURRENT ASSETS
Debtors 6 14,371 9,940
Cash at bank 28,803 7,827
43,174 17,767
CREDITORS
Amounts falling due within one year 7 498,267 501,937
NET CURRENT LIABILITIES (455,093 ) (484,170 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,320,811

3,295,597

CREDITORS
Amounts falling due after more than one
year

8

(1,925,413

)

(1,927,487

)

PROVISIONS FOR LIABILITIES (325,695 ) (325,756 )
NET ASSETS 1,069,703 1,042,354

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,069,603 1,042,254
SHAREHOLDERS' FUNDS 1,069,703 1,042,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





R I Brett - Director


RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Richard and Lisa Brett Properties Ltd 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
In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. The directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover
Turnover represents rents received and services provided excluding value added tax. Turnover is recognised when the company receives the right to consideration.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
There is no depreciation or amortisation provided in respect of freehold or leasehold properties having more than 20 years unexpired. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is, in the opinion of the directors, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 23,870
DEPRECIATION
At 1 September 2023 9,347
Charge for year 3,619
At 31 August 2024 12,966
NET BOOK VALUE
At 31 August 2024 10,904
At 31 August 2023 14,523

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 3,765,244
Revaluations (244 )
At 31 August 2024 3,765,000
NET BOOK VALUE
At 31 August 2024 3,765,000
At 31 August 2023 3,765,244

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2019 262,155
Valuation in 2020 181,680
Valuation in 2021 651,106
Valuation in 2022 208,083
Valuation in 2024 (244 )
Cost 2,462,220
3,765,000

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

31.8.24 31.8.23
£    £   
Cost 2,462,220 2,462,220

Investment property was valued on an open market basis on 31 August 2024 by the directors .

RICHARD AND LISA BRETT PROPERTIES LTD (REGISTERED NUMBER: 09732804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 14,371 9,940

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 2,204 2,341
Tax 7,648 5,674
Other creditors 165,882 163,182
Directors' current accounts 320,970 329,303
Accrued expenses 1,563 1,437
498,267 501,937

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 1,812 2,341
Bank loans - 2-5 years - 1,544
Bank loans more 5 yr by instal 1,923,601 1,923,602
1,925,413 1,927,487

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,923,601 1,923,602

9. SECURED DEBTS

Lenders hold a fixed charge over the investment property.

10. RELATED PARTY DISCLOSURES

As at the date of the balance sheet, the directors, Mr and Mrs Brett were owed £320,970 by the company. There are no terms attached and the loan is repayable on demand.

Included in other creditors is an amount of £152,371 owed to Richard Brett Kitchens Limited. Mr R Brett is a director of Richard Brett Kitchens Limited.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RICHARD AND LISA BRETT PROPERTIES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard and Lisa Brett Properties Ltd for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Richard and Lisa Brett Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Richard and Lisa Brett Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Richard and Lisa Brett Properties Ltd, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard and Lisa Brett Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Richard and Lisa Brett Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Richard and Lisa Brett Properties Ltd. You consider that Richard and Lisa Brett Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Richard and Lisa Brett Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


1 May 2025