REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 September 2024 |
for |
Briar Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 September 2024 |
for |
Briar Investments Limited |
Briar Investments Limited (Registered number: 02104599) |
Contents of the Financial Statements |
for the Year Ended 29 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Briar Investments Limited |
Company Information |
for the Year Ended 29 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Roland House |
Princes Dock Street |
Hull |
HU1 2LD |
Briar Investments Limited (Registered number: 02104599) |
Balance Sheet |
29 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Briar Investments Limited (Registered number: 02104599) |
Notes to the Financial Statements |
for the Year Ended 29 September 2024 |
1. | STATUTORY INFORMATION |
Briar Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The Company has taken out loans secured against properties under its ownership. The proceeds from those loans have been made available to a business, in the same sector, under the ownership of the Director in order to support the growth and development of that business. The Company and other businesses under the ownership of the Director are dependent on the continued financial support of the Director and from funds from those businesses to support its working capital and pay its debts as they fall due. On this basis the accounts have been prepared on a going concern basis. |
Turnover |
Turnover represents rents receivable by the company in respect of services supplied during the year, exclusive of Value Added Tax. Revenue relating to lettings is recognised when the company has performed its obligations, in accordance with contractual terms. . |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - No depreciation |
Fixtures & fittings | - 25% reducing balance & 25% on cost |
Motor vehicles | - 25% reducing balance |
Computer equipment | - 33% on cost |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Briar Investments Limited (Registered number: 02104599) |
Notes to the Financial Statements - continued |
for the Year Ended 29 September 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 30 September 2023 |
Disposals | ( |
) | ( |
) |
At 29 September 2024 |
DEPRECIATION |
At 30 September 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 September 2024 |
NET BOOK VALUE |
At 29 September 2024 |
At 29 September 2023 |
The company's investment properties were revalued by Knight Frank LLP, Chartered Surveyors, in May 2012 on an open market value basis at £1,425,000. The cost of investment properties included in this valuation above is £197,684 (2023: £197,684). In addition to this another property was purchased at a cost of £386,193 on 29 September 2017. In the opinion of the director, the open market value of the investment properties at 29th September 2024 is not materially different from the valuation incorporated in the financial statements. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Briar Investments Limited (Registered number: 02104599) |
Notes to the Financial Statements - continued |
for the Year Ended 29 September 2024 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Short term loans | 695,841 | - |
The company has a loan outstanding with Ortus Secured Finance totalling £474,444 at 30 September 2024. This is secured on one of the properties owned by the company. |
The company also has a loan outstanding with Greenfield Mortgages Limited totalling £221,397 at 30 September 2024. This is also secured on one of the properties owned by the company. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 30 September 2023 | 1,507,179 |
Profit for the year |
At 29 September 2024 | 1,511,777 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date £547,323 was owed to the Company by Dr S B Wall (2023: £412,049). |
Interest has been charged at HM Revenue & Custom's official rate on the overdrawn balance and amounted to £11,484 (2023: £10,490) for the year. |
At the balance sheet date £1,240 was owed to the Company by Miss H Wall. |
11. | RELATED PARTY DISCLOSURES |
Property Venture 1 Limited |
At the year end the Company owed Property Venture 1 Limited £284,803 (2023: £276,897). Property Venture 1 Limited is a company in which Dr S B Wall is a director. The loan is interest free and repayable on demand. |
Concorde No 1 Limited |
At the year end Concorde No 1 Limited owed the company £647,314 (2023: £90,372). Concorde No 1 Limited is a company in which Dr S B Wall is a director. The loan is interest free and repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |