Company Registration No. 05198495 (England and Wales)
Browning Estates Ltd
Unaudited accounts
for the year ended 31 December 2024
Browning Estates Ltd
Unaudited accounts
Contents
Browning Estates Ltd
Company Information
for the year ended 31 December 2024
Company Number
05198495 (England and Wales)
Registered Office
15-17 Belfast Road
London
N16 6UN
Browning Estates Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
3,276
3,868
Investment property
755,622
1,503,799
Cash at bank and in hand
357
8,296
Creditors: amounts falling due within one year
(574,235)
(1,147,117)
Net current assets/(liabilities)
588,898
(153,204)
Total assets less current liabilities
1,347,896
1,354,563
Creditors: amounts falling due after more than one year
(745,562)
(745,587)
Provisions for liabilities
Deferred tax
(14,892)
(5,000)
Net assets
587,442
603,976
Called up share capital
1
1
Profit and loss account
587,441
603,975
Shareholders' funds
587,442
603,976
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
Solomon Gluck
Director
Company Registration No. 05198495
Browning Estates Ltd
Notes to the Accounts
for the year ended 31 December 2024
Browning Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 05198495. The registered office is 15-17 Belfast Road, London, N16 6UN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the directors
have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due, based on the net current asset position of the company and available sources of finance.
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover is measured at the fair value of the consideration received or receivable and represents rents and charges receivable in respect of the company's investment property.
Browning Estates Ltd
Notes to the Accounts
for the year ended 31 December 2024
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.
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition
• Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and
• No depreciation is provided in respect of investment properties applying the fair value model.
Investment property fair value is determined by the directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing balance
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Total
At 31 December 2024
18,080
At 31 December 2024
14,804
Browning Estates Ltd
Notes to the Accounts
for the year ended 31 December 2024
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Transactions with related parties
Included within debtors are amounts aggregating to £1,000,249 (2023: £780,288) due from companies with a director in common with this company.
Included within creditors are amounts aggregating to £457,810 (2023: £356,155) due to companies with a director in common with this company.
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).