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REGISTERED NUMBER: 03771857 (England and Wales)















Financial Statements for the Year Ended 31 October 2024

for

Brooklyn Properties Limited

Brooklyn Properties Limited (Registered number: 03771857)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brooklyn Properties Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mrs L Hughes
P Hughes
Mrs S Jonas





SECRETARY: Mrs S Jonas





REGISTERED OFFICE: 64A Cambridge Road
Seaforth
Liverpool
Merseyside
L21 1EY





REGISTERED NUMBER: 03771857 (England and Wales)





ACCOUNTANTS: Cobham Murphy Limited
116 Duke Street
Liverpool
Merseyside
L1 5JW

Brooklyn Properties Limited (Registered number: 03771857)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,562 10,703
Investment property 5 10,497,575 9,775,001
10,505,137 9,785,704

CURRENT ASSETS
Stocks 538,691 538,691
Cash at bank and in hand 21,766 56,995
560,457 595,686
CREDITORS
Amounts falling due within one year 6 810,391 919,968
NET CURRENT LIABILITIES (249,934 ) (324,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,255,203

9,461,422

CREDITORS
Amounts falling due after more than one
year

7

(3,712,135

)

(3,422,053

)

PROVISIONS FOR LIABILITIES (901,673 ) (798,434 )
NET ASSETS 5,641,395 5,240,935

CAPITAL AND RESERVES
Called up share capital 228 228
Fair value reserve 9 3,608,002 3,282,487
Retained earnings 2,033,165 1,958,220
SHAREHOLDERS' FUNDS 5,641,395 5,240,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Brooklyn Properties Limited (Registered number: 03771857)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:





P Hughes - Director


Brooklyn Properties Limited (Registered number: 03771857)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Brooklyn Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover, derived from ordinary activities, represents rental income received and developed properties sold. Rental income is recognised on a receipts basis and property sales are recognised when legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

All properties have been valued by the directors, using their expertise and comparatives. Properties are professionally valued on a cyclical basis as required by the bank.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.


Brooklyn Properties Limited (Registered number: 03771857)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are loans from Handelsbanken and are initially recognised at the fair value of the consideration received, less any transaction costs and are subsequently measured at ammortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 22,853
DEPRECIATION
At 1 November 2023 12,150
Charge for year 3,141
At 31 October 2024 15,291
NET BOOK VALUE
At 31 October 2024 7,562
At 31 October 2023 10,703

Brooklyn Properties Limited (Registered number: 03771857)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 9,775,001
Additions 293,821
Revaluations 428,753
At 31 October 2024 10,497,575
NET BOOK VALUE
At 31 October 2024 10,497,575
At 31 October 2023 9,775,001

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2010 1,322,531
Valuation in 2013 562,579
Valuation in 2015 40,672
Valuation in 2016 206,999
Valuation in 2017 120,301
Valuation in 2018 95,606
Valuation in 2020 232,294
Valuation in 2021 933,795
Valuation in 2023 565,919
Valuation in 2024 428,753
Cost 5,988,126
10,497,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 253,550 388,822
Trade creditors 42,655 39,399
Taxation and social security 64,912 85,940
Other creditors 449,274 405,807
810,391 919,968

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 3,712,135 3,422,053

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,643,178

Brooklyn Properties Limited (Registered number: 03771857)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank overdrafts 253,550 194,103
Bank loans 3,712,135 3,616,772
3,965,685 3,810,875

Bank loans and overdrafts are secured on the investment property portfolio.

9. RESERVES
Fair
value
reserve
£   
At 1 November 2023 3,282,487
Transfer 325,515

At 31 October 2024 3,608,002

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £381,898 (2023 £339,422) was owing to the directors. The loans are repayable on demand and interest free.