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Registered number: 13992131










BRINDLEY DRIVE PROP CO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
BRINDLEY DRIVE PROP CO LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 3


 
BRINDLEY DRIVE PROP CO LIMITED
REGISTERED NUMBER: 13992131

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
23,256,153
8,933,107

Debtors
 4 
44,779
-

Cash at bank and in hand
  
292,047
100

  
23,592,979
8,933,207

Creditors: amounts falling due within one year
 5 
(23,596,942)
(8,937,170)

Net current liabilities
  
 
 
(3,963)
 
 
(3,963)

Total assets less current liabilities
  
(3,963)
(3,963)

  

Net liabilities
  
(3,963)
(3,963)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(4,063)
(4,063)

  
(3,963)
(3,963)


The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 16 June 2025.

A Neale
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
BRINDLEY DRIVE PROP CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Brindley Drive Prop Co Limited is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is 23rd Floor, Alpha Tower, Suffolk Street Queensway, Birmingham, B1 1TT.

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

The Company is dependant upon a loan from a third party. The third party has indicated that they will
continue to provide the financial support necessary to enable the Company to continue in operational
existence for the foreseeable future. Accordingly, these financial statements have been prepared on
the going concern basis.

 
2.3

Stocks

The development in progress is valued at cost. Cost includes finance and direct costs.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares

Page 2

 
BRINDLEY DRIVE PROP CO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees



The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Other debtors
44,779
-



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,728
-

Other creditors
23,585,464
8,933,420

Accruals and deferred income
3,750
3,750

23,596,942
8,937,170


Other Creditors are secured against the assets of the Company.


6.


Investments

On 22 August 2024 the company became the initial subscriber to Edition Management Company Limited (a company limited by guarantee). At the year end the amount it had guaranteed was £1.


7.


Post balance sheet events

The company is currently in the process of negotiating the senior debt for the project going forward.
The director is confident that this process will be completed in the near future.
Should additional time be required contingency plans are in place to enable the company to continue on a going concern basis.


8.


Controlling party

The Company is a wholly owned subsidiary of Brindley Drive Mid Co Limited. Its ultimate parent undertaking is Court Collaboration Holdings Limited

Page 3