2 2 Brainchild Property Ltd 12431335 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true 12431335 2024-02-01 2025-01-31 12431335 2025-01-31 12431335 core:CurrentFinancialInstruments 2025-01-31 12431335 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 12431335 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 12431335 core:FurnitureFittings 2025-01-31 12431335 bus:SmallEntities 2024-02-01 2025-01-31 12431335 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 12431335 bus:FilletedAccounts 2024-02-01 2025-01-31 12431335 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 12431335 bus:RegisteredOffice 2024-02-01 2025-01-31 12431335 bus:Director1 2024-02-01 2025-01-31 12431335 bus:Director2 2024-02-01 2025-01-31 12431335 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 12431335 bus:Agent1 2024-02-01 2025-01-31 12431335 core:FurnitureFittings 2024-02-01 2025-01-31 12431335 countries:EnglandWales 2024-02-01 2025-01-31 12431335 2024-01-31 12431335 core:FurnitureFittings 2024-01-31 12431335 2023-02-01 2024-01-31 12431335 2024-01-31 12431335 core:CurrentFinancialInstruments 2024-01-31 12431335 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 12431335 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 12431335 core:FurnitureFittings 2024-01-31 xbrli:pure iso4217:GBP

Registration number: 12431335

Brainchild Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Brainchild Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Brainchild Property Ltd

Company Information

Directors

R White

Mrs N White

Registered office

111-113 High Street
Evesham
Worcestershire
WR11 4XP

Accountants

Clement Rabjohns Limited
Chartered Accountants111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Brainchild Property Ltd

(Registration number: 12431335)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

-

152

Investment property

5

913,000

745,000

 

913,000

745,152

Current assets

 

Debtors

6

2,578

1,869

Cash at bank and in hand

 

13,733

10,346

 

16,311

12,215

Creditors: Amounts falling due within one year

7

(273,175)

(231,755)

Net current liabilities

 

(256,864)

(219,540)

Total assets less current liabilities

 

656,136

525,612

Creditors: Amounts falling due after more than one year

7

(595,455)

(488,580)

Provisions for liabilities

(15,350)

(9,417)

Net assets

 

45,331

27,615

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

66,607

51,494

Retained earnings

(21,278)

(23,881)

Shareholders' funds

 

45,331

27,615

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

 

Brainchild Property Ltd

(Registration number: 12431335)
Balance Sheet as at 31 January 2025

.........................................
R White
Director

 

Brainchild Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:
111-113 High Street
Evesham
Worcestershire
WR11 4XP
England

These financial statements were authorised for issue by the Board on 29 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the rental income generated in the period. The rental income is invoiced monthly in advance.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Brainchild Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Brainchild Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2024

614

614

At 31 January 2025

614

614

Depreciation

At 1 February 2024

462

462

Charge for the year

152

152

At 31 January 2025

614

614

Carrying amount

At 31 January 2025

-

-

At 31 January 2024

152

152

5

Investment properties

2025
£

At 1 February

745,000

Additions

147,849

Fair value adjustments

20,151

At 31 January

913,000

The properties have been revalued by the Directors as at 31 January 2025 based on open market value. Had the properties been accounted for at historic cost their carrying value would have been £824,190.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2025
£

2024
£

Prepayments

2,578

1,869

 

2,578

1,869

 

Brainchild Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

437

845

Accruals and deferred income

900

900

Other creditors

271,838

230,010

273,175

231,755

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

595,455

488,580

Creditors include bank loans which are secured of £595,455 (2024 - £488,580).

Creditors include bank loans not repayable by instalments of £595,455 (2024 - £488,580) due after more than five years.