Company Registration No. 13776656 (England and Wales)
BRACKEN PROPERTY COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 APRIL 2025
30 April 2025
PAGES FOR FILING WITH REGISTRAR
BRACKEN PROPERTY COMPANY LIMITED
COMPANY INFORMATION
Directors
Miss M F Moser
Mr M C Flynn
Company number
13776656
Registered office
Sterling House
Waterfold Business Park
Bury
England
BL9 7BR
BRACKEN PROPERTY COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
BRACKEN PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
30 April 2025
31 December 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
5
292,221
147,245
Investment property
4
155,419,400
160,514,080
Investments
6
4,888,925
3,215,685
160,600,546
163,877,010
Current assets
Debtors
7
15,725,005
11,853,176
Cash at bank and in hand
346,404
138,143
16,071,409
11,991,319
Creditors: amounts falling due within one year
8
(18,938,500)
(19,287,227)
Net current liabilities
(2,867,091)
(7,295,908)
Total assets less current liabilities
157,733,455
156,581,102
Creditors: amounts falling due after more than one year
9
(52,957,182)
(40,496,823)
Provisions for liabilities
1,827
(129,003)
Net assets
104,778,100
115,955,276
Capital and reserves
Called up share capital
10
2
2
Share premium account
93,197,502
93,197,502
Profit and loss reserves
11,580,596
22,757,772
Total equity
104,778,100
115,955,276

The notes on pages 3 to 9 form part of these financial statements.

BRACKEN PROPERTY COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial period ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 January 2026 and are signed on its behalf by:
Mr M C Flynn
Director
Company registration number 13776656 (England and Wales)
BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Bracken Property Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sterling House, Waterfold Business Park, Bury, England, BL9 7BR.

1.1
Reporting period

The current year reporting period is longer than one year, as such historical comparison amounts will not be entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents service charges receivable from tenants in respect of communal expenditure incurred, excluding VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33.33% straight line
Computers
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -

O ther investments are assets consisting of vehicle number plate registrations. The directors believe the valuation at the balance sheet date to be that of fair value.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 5 -
2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Principal vs agent

T he company contracts various suppliers to provide services to its customers throughout the year. This can include repairs and maintenance, professional services and insurance. Whilst these services are contracted by the company on its customers’ behalf, they are recharged to customers at cost.

Whilst the company’s management may negotiate the price of these services, to ensure the best value is being obtained for our customers, the price is ultimately set by the 3 rd party service provider and the company does not enter into these transactions in order to obtain a direct economic benefit.

The directors have applied judgment in considering whether the company is acting as Principal or Agent, for the purposes of determining the appropriate revenue recognition treatment of recharges to its customers for these services.

Giving due consideration to all the relevant factors, including the application guidance in FRS 102, the directors consider that the company is acting as an Agent. The company has therefore not recognised turnover in respect of these transactions, but instead has recognised a corresponding reduction in the costs which have been recharged to customers.

Whilst this judgment has a material impact on turnover it has no overall impact on the company’s profit or loss.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment Property Valuation

Investment properties are shown at the directors’ best estimate of their fair market value, at the balance sheet date. These estimates are based on the directors' knowledge and understanding of the underlying market conditions, and with reference to professional valuations which are undertaken on a periodic basis.

Given the relative size of the investment property portfolio, and inherent estimation uncertainty in the valuation of properties, the risk of a material adjustment to the carrying value of investment properties is of particular significance.

BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
14
3
4
Investment property
2025
£
Fair value
At 1 January 2024
160,514,079
Additions
10,976,810
Disposals
(954,326)
Revaluations
(15,117,163)
At 30 April 2025
155,419,400

The fair value of the investment property has been arrived at on the basis of valuations carried out during the period, including a valuation on 30/11/2024 by Chartered Surveyors, who are not connected with the company, and a valuation on 30/04/2025 by internal surveyors. An additional valuation for one property was carried out by Chartered Surveyors on 15/07/2025. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
-
0
417
205,988
206,405
Additions
75,000
9,387
170,826
255,213
Disposals
-
0
-
0
(13,923)
(13,923)
At 30 April 2025
75,000
9,804
362,891
447,695
Depreciation and impairment
At 1 January 2024
-
0
87
59,073
59,160
Depreciation charged in the period
27,083
1,720
70,121
98,924
Eliminated in respect of disposals
-
0
-
0
(2,610)
(2,610)
At 30 April 2025
27,083
1,807
126,584
155,474
Carrying amount
At 30 April 2025
47,917
7,997
236,307
292,221
At 31 December 2023
-
0
330
146,915
147,245
BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 7 -
6
Fixed asset investments
2025
2023
£
£
Shares in group undertakings
375,814
375,714
Other investments
4,513,111
2,839,971
4,888,925
3,215,685
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2024
375,714
2,839,971
3,215,685
Additions
100
1,673,140
1,673,240
At 30 April 2025
375,814
4,513,111
4,888,925
Carrying amount
At 30 April 2025
375,814
4,513,111
4,888,925
At 1 December 2021
375,714
2,839,971
3,215,685
7
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
464,290
900,312
Amounts owed by group undertakings
9,375,054
6,493,221
Other debtors
5,885,661
4,459,643
15,725,005
11,853,176

Amounts owed by group undertakings are interest free and there are no fixed repayment terms.

Included in other debtors are amounts due from companies with directors or shareholders in common with this company (including close family members), totalling £2,674,760 (2023 - £2,616,638).

BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
8
Creditors: amounts falling due within one year
2025
2023
£
£
Trade creditors
1,024,233
610,863
Amounts owed to group undertakings
658,843
102
Taxation and social security
1,488,365
1,048,710
Other creditors
15,767,059
17,627,552
18,938,500
19,287,227

Included in other creditors are amounts due to companies with directors or shareholders in common with this company (including their close family members), totalling £1,879,392 (2023 - £1,599,373).

Also included in other creditors are amounts due to a company under common control totalling £250,000 (2023 - £250,000), and amounts due to connected pension funds totalling £8,566,100 (2023 - £3,126,574).

Other creditors includes loan amounts owed to the company's controlling shareholder and close family members, totalling £3,217,999 (2023 - £9,223,520).

These amounts are unsecured and have a repayment date within the next 12 months, or have no set repayment date.

9
Creditors: amounts falling due after more than one year
2025
2023
£
£
Bank loans and overdrafts
25,082,182
30,424,255
Other creditors
27,875,000
10,072,568
52,957,182
40,496,823

Bank loans totalling £25,082,182 (202 3 - £30,424,255) are secured on the company's investment properties.

Included in other creditors are unsecured loan amounts due to a company under common control totalling £27,500,000 (2023 - £nil). These loans have three year repayment terms and accrue interest at a rate of 1% per annum.

Included in other creditors is an unsecured interest free loan due to a connected company totalling £375,000 (2023 - £nil). This loan has a 3 year repayment term.

BRACKEN PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
10
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
200
200
2
2
2025-04-30 2024-01-01 false false false 30 January 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Miss M F Moser Mr M C Flynn 13776656 2024-01-01 2025-04-30 13776656 2025-04-30 13776656 bus:Director1 2024-01-01 2025-04-30 13776656 bus:Director2 2024-01-01 2025-04-30 13776656 bus:RegisteredOffice 2024-01-01 2025-04-30 13776656 2023-12-31 13776656 core:FurnitureFittings 2025-04-30 13776656 core:ComputerEquipment 2025-04-30 13776656 core:MotorVehicles 2025-04-30 13776656 core:FurnitureFittings 2023-12-31 13776656 core:ComputerEquipment 2023-12-31 13776656 core:MotorVehicles 2023-12-31 13776656 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 13776656 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13776656 core:CurrentFinancialInstruments 2025-04-30 13776656 core:CurrentFinancialInstruments 2023-12-31 13776656 core:Non-currentFinancialInstruments 2025-04-30 13776656 core:Non-currentFinancialInstruments 2023-12-31 13776656 core:ShareCapital 2025-04-30 13776656 core:ShareCapital 2023-12-31 13776656 core:SharePremium 2025-04-30 13776656 core:SharePremium 2023-12-31 13776656 core:RetainedEarningsAccumulatedLosses 2025-04-30 13776656 core:RetainedEarningsAccumulatedLosses 2023-12-31 13776656 core:ShareCapitalOrdinaryShareClass1 2025-04-30 13776656 core:ShareCapitalOrdinaryShareClass1 2023-12-31 13776656 core:FurnitureFittings 2024-01-01 2025-04-30 13776656 core:ComputerEquipment 2024-01-01 2025-04-30 13776656 core:MotorVehicles 2024-01-01 2025-04-30 13776656 2023-01-01 2023-12-31 13776656 2023-12-31 13776656 core:FurnitureFittings 2023-12-31 13776656 core:ComputerEquipment 2023-12-31 13776656 core:MotorVehicles 2023-12-31 13776656 bus:OrdinaryShareClass1 2024-01-01 2025-04-30 13776656 bus:OrdinaryShareClass1 2025-04-30 13776656 bus:OrdinaryShareClass1 2023-12-31 13776656 bus:PrivateLimitedCompanyLtd 2024-01-01 2025-04-30 13776656 bus:FRS102 2024-01-01 2025-04-30 13776656 bus:AuditExemptWithAccountantsReport 2024-01-01 2025-04-30 13776656 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2025-04-30 13776656 bus:FullAccounts 2024-01-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP