Brickline Properties Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Brickline Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Pulze

Mrs L Pulze

SECRETARY:

Mrs L Pulze

REGISTERED OFFICE:

8/10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

06692906 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Investments

4

3,067,385

3,067,385

Investment property

5

2,200,000

2,200,000

5,267,385

5,267,385

CURRENT ASSETS

Debtors

6

-

104,684

Cash at bank

3,689

11,949

3,689

116,633

CREDITORS

Amounts falling due within one year

7

1,698,545

1,829,899

NET CURRENT LIABILITIES

(1,694,856

)

(1,713,266

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,572,529

3,554,119

CREDITORS

Amounts falling due after more than one year

8

(2,027,079

)

(2,063,745

)

PROVISIONS FOR LIABILITIES

11

(37,470

)

(37,470

)

NET ASSETS

1,507,980

1,452,904

CAPITAL AND RESERVES

Called up share capital

12

100

100

Revaluation reserve

13

802,143

802,143

Retained earnings

705,737

650,661

SHAREHOLDERS' FUNDS

1,507,980

1,452,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

C Pulze - Director

1.	STATUTORY INFORMATION

Brickline Properties Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

The directors are also of the view that the property does not need to be depreciated as it is likely that it

can only increase based on current economic forecasts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

Rental income

Income is accounted for on a receivable basis and is recognised in line with the terms of the lease.

Joint venture income

The company recognises any profits due from its joint venture activities when it has the right to receive

any profits due in accordance with any Joint Venture agreements in place.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

501

3,066,884

3,067,385

NET BOOK VALUE

At 30 September 2019

501

3,066,884

3,067,385

At 30 September 2018

501

3,066,884

3,067,385

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Subsidiary

Netriver Limited

Registered office: 249 Cranbrook Road, Ilford, Essex, IG1 4TG

Nature of business: Property trading

%

Class of shares:

holding

Ordinary

50.10

31/3/19

31/3/18

£

£

Aggregate capital and reserves

675,157

544,961

Profit for the year

130,196

42,298

Associated company

Oakspear Limited

Registered office: 8-10 South Street, Epsom, Surrey, KT18 7PF

Nature of business: Investment property company

%

Class of shares:

holding

Ordinary

50.00

31/12/18

31/12/17

£

£

Aggregate capital and reserves

7,941,799

7,636,705

Profit for the year

242,253

210,349

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

and 30 September 2019

2,200,000

NET BOOK VALUE

At 30 September 2019

2,200,000

At 30 September 2018

2,200,000

Fair value at 30 September 2019 is represented by:

£

Valuation in 2017

839,613

Cost

1,360,387

2,200,000

The investment property was valued on an open market basis on 13th March 2017 by Fleurets

Chartered Surveyors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

36,417

Amounts owed by group undertakings

-

60,000

Prepayments

-

8,267

-

104,684

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 9)

36,667

36,667

Trade creditors

119,999

31,695

Tax

12,919

33,497

VAT

1,685

6,583

Other creditors

1,464,137

1,639,137

Accruals and deferred income

63,138

82,320

1,698,545

1,829,899

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans (see note 9)

326,945

363,611

Directors' loan accounts

1,700,134

1,700,134

2,027,079

2,063,745

9.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank loans

36,667

36,667

Amounts falling due between one and two years:

Bank loans - 1-2 years

36,667

36,667

2019

2018

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

290,278

326,944

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

363,612

400,278

The company currently has a mortgage in place which is secured by a charge on the freehold property

owned by the company. Under the terms of the mortgage, monthly repayments of capital are made

and interest is calculated and paid over the same month as it arises.

11.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

37,470

37,470

Deferred

tax

£

Balance at 1 October 2018

37,470

Balance at 30 September 2019

37,470

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100

13.

RESERVES

Revaluation

reserve

£

At 1 October 2018

and 30 September 2019

802,143

14.	ULTIMATE CONTROLLING PARTY

The controlling party is C Pulze.