Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-23false2023-09-01investment property management22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09174635 2023-09-01 2024-08-31 09174635 2022-09-01 2023-08-31 09174635 2024-08-31 09174635 2023-08-31 09174635 1 2023-09-01 2024-08-31 09174635 d:Director1 2023-09-01 2024-08-31 09174635 c:CurrentFinancialInstruments 2024-08-31 09174635 c:CurrentFinancialInstruments 2023-08-31 09174635 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 09174635 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 09174635 c:ShareCapital 2024-08-31 09174635 c:ShareCapital 2023-08-31 09174635 c:RetainedEarningsAccumulatedLosses 2024-08-31 09174635 c:RetainedEarningsAccumulatedLosses 2023-08-31 09174635 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 09174635 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 09174635 d:FRS102 2023-09-01 2024-08-31 09174635 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09174635 d:FullAccounts 2023-09-01 2024-08-31 09174635 d:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09174635 2 2023-09-01 2024-08-31 09174635 6 2023-09-01 2024-08-31 09174635 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 09174635









BRYDELL PARTNERS LIMITED







UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
BRYDELL PARTNERS LIMITED
REGISTERED NUMBER: 09174635

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
619,104
606,174

  
619,104
606,174

Current assets
  

Debtors: amounts falling due within one year
 5 
4,055,402
3,212,295

Cash at bank and in hand
  
2,416,345
3,619,664

  
6,471,747
6,831,959

Creditors: amounts falling due within one year
 6 
(609,118)
(597,873)

Net current assets
  
 
 
5,862,629
 
 
6,234,086

Total assets less current liabilities
  
6,481,733
6,840,260

  

Net assets
  
6,481,733
6,840,260


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
6,480,733
6,839,260

  
6,481,733
6,840,260


Page 1

 
BRYDELL PARTNERS LIMITED
REGISTERED NUMBER: 09174635
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 May 2025.



Charles Daniel Desmond
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Brydell Partners Limited ("the Company") is a private company limited by shares, and is registered, domiciled and incorporated in England and Wales. The registered office and principal place of business is provided on the company information page.
The company's principal activity is to provide advisory and consultancy services on real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis. This basis assumes that the Company will be able to meet its obligations as they arise for the foreseeable future. The Company generates positive cashflow, has no external debt and is currently in a net asset position. The Company has adequate reserves to cover any unforeseen obligations for the next 12 months.
The directors of the Company, on the basis of the forecasted scenarios, consider it appropriate to prepare on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

Page 4

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Page 5

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


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

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

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 September 2023
606,174


Additions
12,930



At 31 August 2024
619,104





5.


Debtors

2024
2023
£
£


Other debtors
3,994,456
3,118,448

Prepayments and accrued income
60,946
93,847

4,055,402
3,212,295



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,370
1,220

Corporation tax
597,241
571,578

Other taxation and social security
8,132
23,515

Accruals and deferred income
1,375
1,560

609,118
597,873


Page 7

 
BRYDELL PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,416,345
3,619,664




Financial assets measured at fair value through profit or loss comprise  cash and cash equivalents.


8.


Related party transactions

At the year end Brydell Partners Limited has an aggregated receivable balance of £3,599,848 (2023: £2,008,945) from the directors.


9.


Post balance sheet events

The investment in Brydell F was liquidated in October 2024, resulting in Bride Partners Limited receiving a final dividend of £154,500.
Apart from the above event, no major event occurred after the balance sheet date having a material impact on the financial position and results of the Company. 

Page 8