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COMPANY REGISTRATION NUMBER: 09049823
Brahma Properties Limited
Unaudited financial statements
31 May 2024
Brahma Properties Limited
Statement of financial position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,384,461
4,396,755
Current assets
Debtors
6
1,031
3,542
Cash at bank and in hand
28,498
21,504
-------
-------
29,529
25,046
Creditors: Amounts falling due within one year
7
( 2,938,003)
( 2,997,196)
-----------
-----------
Net current liabilities
( 2,908,474)
( 2,972,150)
-----------
-----------
Total assets less current liabilities
1,475,987
1,424,605
Creditors: Amounts falling due after more than one year
8
( 528,542)
( 543,811)
Provisions
Taxation including deferred tax
( 94,036)
( 97,110)
-----------
-----------
Net assets
853,409
783,684
-----------
-----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
853,407
783,682
---------
---------
Shareholders funds
853,409
783,684
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Brahma Properties Limited
Statement of financial position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 27 May 2025 , and are signed on behalf of the board by:
P J Ward
Director
Company registration number: 09049823
Brahma Properties Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich Norfolk, NR7 0LB. The place of business is Flynn Bridge Barn, Little Bealings, Woodbridge, Suffolk, IP13 6LH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, with the exception of investment properties which are measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Investment property Valuation of investment properties is undertaken by the directors based on the open market value of like properties in the same area. Consideration is also given to regional rental yields in comparison to that obtained by the company.
Revenue recognition
Turnover represents rental income and recharges received from the letting of the company's investment properties. Income from property rental is accounted for in the period to which it relates.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Tangible assets
Freehold investment property
Long leasehold investment property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
4,027,200
341,500
11,195
13,150
51,699
4,444,744
-----------
---------
-------
-------
-------
-----------
Depreciation
At 1 June 2023
11,118
11,021
25,850
47,989
Charge for the year
( 1,103)
472
12,925
12,294
-----------
---------
-------
-------
-------
-----------
At 31 May 2024
10,015
11,493
38,775
60,283
-----------
---------
-------
-------
-------
-----------
Carrying amount
At 31 May 2024
4,027,200
341,500
1,180
1,657
12,924
4,384,461
-----------
---------
-------
-------
-------
-----------
At 31 May 2023
4,027,200
341,500
77
2,129
25,849
4,396,755
-----------
---------
-------
-------
-------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
1,031
2,485
Other debtors
1,057
------
------
1,031
3,542
------
------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
2,042
2,823
Social security and other taxes
23,743
33,314
Other creditors
2,912,218
2,961,059
-----------
-----------
2,938,003
2,997,196
-----------
-----------
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
528,542
543,811
---------
---------