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COMPANY REGISTRATION NUMBER: 00433329
Brondswill Estates Limited
Unaudited financial statements
31 March 2025
Brondswill Estates Limited
Statement of financial position
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
9,562,090
9,565,120
Current assets
Debtors
6
75,429
51,474
Cash at bank and in hand
618,519
317,171
---------
---------
693,948
368,645
Creditors: Amounts falling due within one year
7
( 540,980)
( 578,492)
---------
---------
Net current assets/(liabilities)
152,968
( 209,847)
-----------
-----------
Total assets less current liabilities
9,715,058
9,355,273
Provisions
Taxation including deferred tax
( 394,490)
( 392,169)
-----------
-----------
Net assets
9,320,568
8,963,104
-----------
-----------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
9,310,568
8,953,104
-----------
-----------
Shareholders funds
9,320,568
8,963,104
-----------
-----------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 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 .
Brondswill Estates Limited
Statement of financial position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
Dr E Stonehill
Director
Company registration number: 00433329
Brondswill Estates Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, England, NR30 1HE
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for rental income, net of discounts and of Value Added Tax.
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 pay or recover 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
15% reducing balance
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 4 (2024: 5 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
9,544,916
221,973
9,766,889
-----------
---------
-----------
Depreciation
At 1 April 2024
201,769
201,769
Charge for the year
3,030
3,030
-----------
---------
-----------
At 31 March 2025
204,799
204,799
-----------
---------
-----------
Carrying amount
At 31 March 2025
9,544,916
17,174
9,562,090
-----------
---------
-----------
At 31 March 2024
9,544,916
20,204
9,565,120
-----------
---------
-----------
At the year end the investment properties were determined to have a market value of £9,544,916 as calculated by the directors. The total historical cost of these investment properties being £7,830,321.
6. Debtors
2025
2024
£
£
Trade debtors
962
1,127
Other debtors
74,467
50,347
-------
-------
75,429
51,474
-------
-------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Social security and other taxes
232,626
197,320
Other creditors
308,354
381,172
---------
---------
540,980
578,492
---------
---------