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Registered number: 00136173
THE BRIGHTHOLME PROPERTY COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
Registered number: 00136173
BALANCE SHEET
As at 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Page 1
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
Registered number: 00136173
BALANCE SHEET (CONTINUED)
As at 31 March 2025
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Investment property reserve
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 10 form part of these financial statements.
Page 2
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
For the Year Ended 31 March 2025
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Investment property revaluation reserve
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Other unrealised reserves
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Comprehensive income for the year
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Dividends: Equity capital
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Comprehensive income for the year
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Dividends: Equity capital
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Transfer (to) from profit and loss account
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Deferred tax provision on fair value movements
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Movement in fair value of investment property
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The notes on pages 4 to 10 form part of these financial statements.
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Page 3
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no.00136173). The address of the registered office is Langtons, 11th Floor, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of investment in property.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental income is brought into account on a receivable basis. Outgoings are brought into account as incurred.
Investment income includes the associated tax credit where applicable.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Page 4
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Interest income is recognised in profit or loss using the effective interest method.
Page 5
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including directors, during the year was 5 (2024 - 4).
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Page 6
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
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Fixtures, fittings and equipment
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Charge for the year on owned assets
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The investment properties were valued by the directors at the balance sheet date.
Listed investments are valued at the year end quoted price.
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Page 7
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 8
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Short term timing differences
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Deferred tax provision on revalued investments
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The deferred tax provision relates wholly to the revaluation surplus on the company's investment assets and as such will only reverse on the disposal of the investments.
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Investment property revaluation reserve
The investment property revaluation reserve arises when a revaluation finds the current and probable future value of the asset is higher than the recorded historic cost of the same asset, net of a provision for the estimated tax payable on realisation of the investment (deferred taxation).
Other reserves
The realised revaluation reserve represents accumulated profits arising on the disposal of investment properties.
Profit & loss account
The profit and loss account represents total accumulated profits to date less dividends paid.
Page 9
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THE BRIGHTHOLME PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
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Related party transactions
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Loans to/(from) directors
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On 23 June 2021 the company became a wholly owned subsidiary of Brightholme Property Holdings Limited (Company Number 13262041), whose registered office is situated at Langtons, 11th Floor, The Plaza, 100 Old Hall Street, Liverpool L3 9QJ. The parent company does not prepare consolidated financial statements.
Brightholme Property Holdings Limited is controlled by its directors
Page 10
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