Bristol Real Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08061168

BRISTOL REAL PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

BRISTOL REAL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	4,201,524	3,731,957

Current assets

Debtors	6	698,782	490,951
Cash at bank and in hand		4,233	876
		----------	----------
		703,015	491,827

Creditors: amounts falling due within one year	7	1,260,039	934,094
		-------------	----------
Net current liabilities		557,024	442,267
		-------------	-------------
Total assets less current liabilities		3,644,500	3,289,690

Creditors: amounts falling due after more than one year	8	913,025	997,343

Provisions

Taxation including deferred tax	468,745	348,737
	-------------	-------------
Net assets	2,262,730	1,943,610
	-------------	-------------

Capital and reserves

Called up share capital		6,700	6,700
Other reserves	10	1,974,254	1,591,194
Profit and loss account	10	281,776	345,716
		-------------	-------------
Shareholders funds		2,262,730	1,943,610
		-------------	-------------

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BRISTOL REAL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

A Shaikh
Director

Company registration number: 08061168

BRISTOL REAL PROPERTIES 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 Century House, 100 Menzies Road, Hastings, TN38 9BB.

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 properties as required by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entity

Going concern

In accordance with the director's responsibilities, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the director has considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis in preparing these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Property valuations Properties are valued annually at fair value by the director. Fair value is ascertained through review of a number of factors to include market knowledge and market yields. There is an inevitable degree of judgement involved and value can only ultimately be reliably tested in the market itself.

Turnover and revenue recognition

Turnover represents amounts receivable from gross rents charged to tenants and the invoiced value of other goods and services supplied, net of value added tax. Rents received prior to the period to which they relate are accounted for as deferred income and released to the profit & loss account in the period to which the rent relates. Rental income is recognised as space is provided to tenants.

Income tax

Deferred taxation is provided using the liability method on all timing differences, including those relating to pensions, which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse. Advance corporation tax which is expected to be recoverable in the future is deducted from the deferred taxation balance.

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 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. The company does not depreciate its freehold properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount in respect of this which might otherwise have been shown cannot be separately identified or quantified.

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 & machinery and office equipment	-	10% straight line

4. Tax on loss

Major components of tax income

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	( 7,171)	( 6,171)
	-------	-------
Tax on loss	( 7,171)	( 6,171)
	-------	-------

Tax recognised as other comprehensive income or equity

The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £ 127,179 (2023: £ 92,560 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Total
	£	£	£
Cost or valuation
At 1 January 2024	3,590,120	406,716	3,996,836
Revaluations	510,239	–	510,239
	-------------	----------	-------------
At 31 December 2024	4,100,359	406,716	4,507,075
	-------------	----------	-------------
Depreciation
At 1 January 2024	–	264,879	264,879
Charge for the year	–	40,672	40,672
	-------------	----------	-------------
At 31 December 2024	–	305,551	305,551
	-------------	----------	-------------
Carrying amount
At 31 December 2024	4,100,359	101,165	4,201,524
	-------------	----------	-------------
At 31 December 2023	3,590,120	141,837	3,731,957
	-------------	----------	-------------

Land and buildings represent freehold property. In the opinion of the director, the carrying value of the property as at 31 December 2024, which is based on the director's valuation, is not significantly different from the open market fair value of the property.

Tangible assets held at valuation

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:

	Freehold property
	£
At 31 December 2024
Aggregate cost	2,011,792
Aggregate depreciation	–
	-------------
Carrying value	2,011,792
	-------------

At 31 December 2023
Aggregate cost	2,011,792
Aggregate depreciation	–
	-------------
Carrying value	2,011,792
	-------------

6. Debtors

	2024	2023
	£	£
Trade debtors	2,245	7,269
Amounts due from related parties	690,244	480,921
Other debtors	6,293	2,761
	----------	----------
	698,782	490,951
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	83,641	79,078
Trade creditors	3,523	4,259
Accruals and deferred income	147,147	134,810
Social security and other taxes	5,645	8,507
Amounts due to related parties	851,220	549,758
Other creditors	168,863	157,682
	-------------	----------
	1,260,039	934,094
	-------------	----------

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

	2024	2023
	£	£
Bank loans and overdrafts	913,025	997,343
	----------	----------

A bank loan of £966,573 (2023: £1,040,773) is secured over the assets of the company.

Included within creditors: amounts falling due after more than one year is an amount of £571,765 (2023: £611,873) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	468,745	348,737
	----------	----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	( 26,586)	( 20,081)
Revaluation of tangible assets	496,005	368,826
Deferred tax - losses	( 674)	( 8)
	----------	----------
	468,745	348,737
	----------	----------

10. Reserves

Other reserve (non-distributable) - This reserve is used to record changes in the fair value of properties, net of deferred tax provisions on revaluation gains. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Related party transactions

At 31 December 2024, creditors, amounts falling due within one year, included amounts owed to related parties amounting to £129 (2023: £71,560), in respect of a director's loan account. The loan is interest free, unsecured and repayable on demand. At 31 December 2024, creditors included amounts owed to related parties amounting to £851,091 (2023: £549,758), in respect of loans from companies under common control. The loans are interest free, unsecured and repayable on demand. At 31 December 2024, debtors included amounts due from related parties amounting to £690,244 (2023: £480,921), in respect of loans to companies under common control. The loans are interest free, unsecured and repayable on demand. During the year, the company incurred charges of £201,076 (2023: £179,000) from companies under common control. Dividends paid and payable amounted to £37,200 (2023: £36,700), for the year.