George Brewster (Property) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00466000

GEORGE BREWSTER (PROPERTY) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

GEORGE BREWSTER (PROPERTY) LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		13,568,988	13,378,582

Current assets

Debtors	5	129,270	109,448
Cash at bank and in hand		1,169,214	1,479,121
		------------	------------
		1,298,484	1,588,569

Creditors: amounts falling due within one year	6	583,401		810,240
		------------		------------
Net current assets			715,083	778,329
			-------------	-------------
Total assets less current liabilities			14,284,071	14,156,911

Creditors: amounts falling due after more than one year	7		5,501,750	5,701,750

Provisions

Taxation including deferred tax	835,419	869,737
	-------------	-------------
Net assets	7,946,902	7,585,424
	-------------	-------------

Capital and reserves

Called up share capital		5,000	5,000
Profit and loss account	8	7,941,902	7,580,424
		------------	------------
Shareholders funds		7,946,902	7,585,424
		------------	------------

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 comprehensive income has not been delivered.

For the year ending 31 December 2024 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 .

GEORGE BREWSTER (PROPERTY) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

M Canty

Director

Company registration number: 00466000

GEORGE BREWSTER (PROPERTY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fleet House, Springhead Enterprise Park, Northfleet, Kent, DA11 8HJ.

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.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.

Judgements and key sources of estimation uncertainty

There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Revenue refers to the revenue earned from the Company's principal activity; that being rent receivable.

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:

Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Investment property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	13,360,000	93,845	42,068	2,755	13,498,668
Additions	93,480	3,499	–	–	96,979
Revaluations	96,520	–	–	–	96,520
	-------------	--------	--------	-------	-------------
At 31 December 2024	13,550,000	97,344	42,068	2,755	13,692,167
	-------------	--------	--------	-------	-------------
Depreciation
At 1 January 2024	–	80,509	36,899	2,678	120,086
Charge for the year	–	2,306	776	11	3,093
	-------------	--------	--------	-------	-------------
At 31 December 2024	–	82,815	37,675	2,689	123,179
	-------------	--------	--------	-------	-------------
Carrying amount
At 31 December 2024	13,550,000	14,529	4,393	66	13,568,988
	-------------	--------	--------	-------	-------------
At 31 December 2023	13,360,000	13,336	5,169	77	13,378,582
	-------------	--------	--------	-------	-------------

Tangible assets held at valuation

Investment properties were valued on an open market basis on 31 December 2024 by the director, M Canty .

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31 December 2024
Aggregate cost	8,351,238
Aggregate depreciation	–
	------------
Carrying value	8,351,238
	------------

At 31 December 2023
Aggregate cost	8,257,758
Aggregate depreciation	–
	------------
Carrying value	8,257,758
	------------

5. Debtors

	2024	2023
	£	£
Trade debtors	35,011	4,464
Other debtors	94,259	104,984
	---------	---------
	129,270	109,448
	---------	---------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	200,000	200,000
Trade creditors	5,430	3,290
Corporation tax	48,467	134,887
Social security and other taxes	52,043	229,344
Other creditors	277,461	242,719
	---------	---------
	583,401	810,240
	---------	---------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	5,501,750	5,701,750
	------------	------------

The bank loans are secured on the company's properties.

8. Reserves

Included in capital and reserves is an undistributable amount of £4,363,344 .