Registered number
04705771
Braycote Ltd
Filleted Accounts
2 October 2024
Braycote Ltd
Registered number: 04705771
Balance Sheet
as at 2 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,405,436 4,338,278
Current assets
Debtors 4 718,766 969,516
Cash at bank and in hand 158,090 99,462
876,856 1,068,978
Creditors: amounts falling due within one year 5 (223,000) (211,231)
Net current assets 653,856 857,747
Total assets less current liabilities 5,059,292 5,196,025
Creditors: amounts falling due after more than one year 6 - (73,079)
Provisions for liabilities (125,356) (125,356)
Net assets 4,933,936 4,997,590
Capital and reserves
Called up share capital 250,300 250,300
Revaluation reserve 7 522,318 522,318
Profit and loss account 4,161,318 4,224,972
Shareholders' funds 4,933,936 4,997,590
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M V Ganatra
Director
Approved by the board on 27 May 2025
Braycote Ltd
Notes to the Accounts
for the year ended 2 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% reducing balance
The directors have placed a value on the investment properties which, in their opinion, reflects the current market value. Included in the investment properties are freehold properties which were valued by independent valuers based on open market value in November 2003. If these had not been revalued, the historic cost would have been £3,439,147, and the associated accumulated depreciation would have been £Nil. The estimated tax charge if the revalued properties were sold is £237,654.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment Properties Fixtures and fittings Total
£ £ £
Cost
At 3 October 2023 4,337,255 14,163 4,351,418
Additions 67,311 - 67,311
At 2 October 2024 4,404,566 14,163 4,418,729
Depreciation
At 3 October 2023 - 13,140 13,140
Charge for the year - 153 153
At 2 October 2024 - 13,293 13,293
Net book value
At 2 October 2024 4,404,566 870 4,405,436
At 2 October 2023 4,337,255 1,023 4,338,278
The directors have placed a value on the investment properties which, in their opinion, reflects the current market value. Included in the investment properties are freehold properties which were valued by independent valuers based on open market value in November 2003. If these had not been revalued, the historic cost would have been £3,814,937, and the associated accumulated depreciation would have been £Nil. The estimated tax charge if the revalued properties were sold is £125,356.
4 Debtors 2024 2023
£ £
Amounts owed by associated undertakings and undertakings in which the company has a participating interest - 220,000
Other debtors 718,766 749,516
718,766 969,516
Included in other debtors is a loan of £714,988 (2023 : £745,738) to companies in which the Directors had interests in.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Payments received on account 35,644 35,644
Taxation and social security costs 69,274 51,206
Director's current account - 9,778
Accruals and deferred income 69,305 65,825
Other creditors 48,777 48,778
223,000 211,231
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 73,079
All properties have a first legal charge to banks to secure their loans and overdrafts. There is also a cross guarantee and debenture between Braycote Limited and Premium Care Limited.
7 Revaluation reserve 2024 2023
£ £
At 3 October 2023 522,318 522,318
At 2 October 2024 522,318 522,318
8 Related party transactions
At the year end the company was owed £88,738 (2023: £105,738) by Marstone Homes Limited, a company in which Mr C V Ganatra FCA and Mr M V Ganatra FCCA hold shares. This loan is on an interest free basis with no fixed date of repayment, and is included in other debtors. Also included under other debtors is £640,000 owed by other companies in which the directors have interest in.

At the year end the company, Premium Care Limited, a former wholly owned subsidiary of Braycote Ltd, owed £100,000 (2023: £20,000). The loan is on an interest free basis with no fixed date of repayment.

At the year end the company owed £22,500 to Foxhill Northwood Ltd and £22,500 to SSR Estates Ltd in which the directors have interests.

At the year end, directors were owed £Nil (2023: £9,780). These are interest free loans repayable on demand.
9 Other information
Braycote Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9A Sandy Lodge Road
Rickmansworth
Hertfordshire
WD3 1LP
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