Brownelson Properties Ltd


Directors	George Carlyle Kerr
	Richard Carlyle Kerr
	Warren Douglas Kerr


Company Secretary	Richard Carlyle Kerr


Registered Address	4 Mason Court Gillan Way
	Penrith 40 Business Park
	Penrith
	CA11 9GR


Registered Number	04245892 (England and Wales)

Statement of Financial Position
31 July 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		5,221		5,804
Investment property	6		545,000		545,000
			550,221		550,804
Current assets
Debtors	7	13,779		14,612
Cash at bank and on hand		23,330		55,666
		37,109		70,278
Creditors amounts falling due within one year	8	(499,207)		(499,297)
Net current assets (liabilities)			(462,098)		(429,019)
Total assets less current liabilities			88,123		121,785
Provisions for liabilities	9		(34,282)		(34,393)
Net assets			53,841		87,392
Capital and reserves
Called up share capital			100		100
Revaluation reserve			175,214		175,214
Profit and loss account			(121,473)		(87,922)
Shareholders' funds			53,841		87,392

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 June 2026, and are signed on its behalf by:

George Carlyle Kerr
Director

Richard Carlyle Kerr
Director

Warren Douglas Kerr
Director

Registered Company No. 04245892

Brownelson Properties Ltd

Notes to the Financial Statements
for the year ended 31 July 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	10

	Investment property
	Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 August 24	42,075	42,075
At 31 July 25	42,075	42,075
Depreciation and impairment
At 01 August 24	36,271	36,271
Charge for year	583	583
At 31 July 25	36,854	36,854
Net book value
At 31 July 25	5,221	5,221
At 31 July 24	5,804	5,804

5.	Impairment of tangible fixed assets
	A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

6.	Investment property
	The properties held by the company were revalued to market value as at 31 July 2005. The directors have considered the valuation at the year end and have agreed there has been no material movement in the market values of each property owned. The Cumberland Building Society hold a fixed charge over 10 Chertsey Mount (Registered on 21 May 2004), 88/88a Warwick Road and 35 Graham Street (Registered on 25 October 2002), 14 Chatsworth Square, 18 Linton Street and 14 Colville Terrace (Registered on 16 May 2002). 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 £369,786 (2022: £563,040).

Investment property

The properties held by the company were revalued to market value as at 31 July 2005. The directors have considered the valuation at the year end and have agreed there has been no material movement in the market values of each property owned.

The Cumberland Building Society hold a fixed charge over 10 Chertsey Mount (Registered on 21 May 2004), 88/88a Warwick Road and 35 Graham Street (Registered on 25 October 2002), 14 Chatsworth Square, 18 Linton Street and 14 Colville Terrace (Registered on 16 May 2002).

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 £369,786 (2022: £563,040).


		£
	Fair value at 01 August 24	545,000
	At 31 July 25	545,000

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	13,779	14,612
Total	13,779	14,612

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	59	597
Other creditors	497,848	497,399
Accrued liabilities and deferred income	1,300	1,301
Total	499,207	499,297


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9.	Provisions for liabilities
	Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

	2025	2024
	£	£
Net deferred tax liability (asset)	34,282	34,393
Total	34,282	34,393