Braintree Housing Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09351748 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BRAINTREE HOUSING COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J N Haylock

Miss C Hunnable

J E Hunnable

P J Hunnable

M S Hunnable

Mrs E Goldmark

Mr D Beanland

SECRETARY:

Mrs E Goldmark

REGISTERED OFFICE:

15 Glaston Road

Uppingham

Oakham

LE15 9PX

REGISTERED NUMBER:

09351748 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

10,917,000

Investment property

4

11,161,000

CURRENT ASSETS

30,179

Debtors

5

29,798

442,208

Cash at bank and in hand

187,121

472,387

216,919

CREDITORS

119,295

Amounts falling due within one year

6

108,144

353,092

NET CURRENT ASSETS

108,775

11,270,092

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,269,775

CREDITORS

(309,668

)

Amounts falling due after more than one
year

7

(279,521

)

(567,197

)

PROVISIONS FOR LIABILITIES

(628,197

)

10,393,227

NET ASSETS

10,362,057

CAPITAL AND RESERVES

21

Called up share capital

20

4,222,678

Fair value reserve

9

4,405,678

6,170,528

Retained earnings

5,956,359

10,393,227

SHAREHOLDERS' FUNDS

10,362,057

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 11 September 2025 and were signed on its behalf by:

M S Hunnable - Director

Mrs E Goldmark - Director

1.	STATUTORY INFORMATION

Braintree Housing Company 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.

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.

Turnover

Turnover represents rents receivable for the year net of VAT where appropriate.

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.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase contracts.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

10,917,000

Revaluations

244,000

At 31 December 2024

11,161,000

NET BOOK VALUE

At 31 December 2024

11,161,000

At 31 December 2023

10,917,000

The fair value of the properties is represented by:-

£

Cost / valuation upon acquisition in 2015

8,616,803

Upwards valuation - 31 December 2016

143,164

Upwards valuation - 31 December 2017

556,000

Upwards valuation - 31 December 2018

343,000

Downwards valuation - 31 December 2019

(110,967

)

Upwards valuation - 31 December 2020

276,000

Upwards valuation - 31 December 2021

645,000

Cost / valuation disposals - 31 December 2021

(575,000

)

Cost of purchase - 31 December 2022

335,472

Upwards valuation - 31 December 2022

939,528

Cost / valuation disposals - 31 December 2023

(340,000

)

Upwards valuation - 31 December 2023

88,000

Upwards valuation - 31 December 2024

244,000

11,161,000

The freehold and leasehold investment property was revalued in December 2024 by the directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

14,919

18,531

Other debtors

14,879

11,648

29,798

30,179

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

30,146

27,942

Trade creditors

820

1,636

Taxation and social security

61,554

78,105

Other creditors

15,624

11,612

108,144

119,295

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

279,521

309,668

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5

years

137,587

177,426

137,587

177,426

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

309,667

337,610

The bank loan is secured by fixed and floating charges against the company, and is secured on commercial and residential property. The charges in are favour of Lloyds Bank PLC, and were created and registered in January and February 2017.

9.

RESERVES

Fair

value

reserve

£

At 1 January 2024

4,222,678

Fair value reserve

183,000

At 31 December 2024

4,405,678

Included within reserves is a 'fair value reserve', which has been created through the process of revaluing the investment property to its open market value each year. The reserve is also adjusted each year for any deferred tax movements.

In accordance with FRS102, this reserve is a 'non-distributable' reserve, and is separately disclosed on the balance sheet.