Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.false2017-04-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activity SC256491 2017-04-01 2018-03-31 SC256491 2016-04-01 2017-03-31 SC256491 2018-03-31 SC256491 2017-03-31 SC256491 2016-04-01 SC256491 c:Director1 2017-04-01 2018-03-31 SC256491 c:Director2 2017-04-01 2018-03-31 SC256491 c:Director2 2018-03-31 SC256491 c:Director3 2017-04-01 2018-03-31 SC256491 c:Director3 2018-03-31 SC256491 c:RegisteredOffice 2017-04-01 2018-03-31 SC256491 c:Agent1 2017-04-01 2018-03-31 SC256491 d:Buildings 2017-04-01 2018-03-31 SC256491 d:Buildings 2018-03-31 SC256491 d:Buildings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC256491 d:PlantMachinery 2017-04-01 2018-03-31 SC256491 d:PlantMachinery 2018-03-31 SC256491 d:PlantMachinery 2017-03-31 SC256491 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC256491 d:MotorVehicles 2017-04-01 2018-03-31 SC256491 d:MotorVehicles 2018-03-31 SC256491 d:MotorVehicles 2017-03-31 SC256491 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC256491 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 SC256491 d:CurrentFinancialInstruments 2018-03-31 SC256491 d:CurrentFinancialInstruments 2017-03-31 SC256491 d:Non-currentFinancialInstruments 2018-03-31 SC256491 d:Non-currentFinancialInstruments 2017-03-31 SC256491 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 SC256491 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 SC256491 d:ShareCapital 2018-03-31 SC256491 d:ShareCapital 2017-03-31 SC256491 d:RetainedEarningsAccumulatedLosses 2018-03-31 SC256491 d:RetainedEarningsAccumulatedLosses 2017-03-31 SC256491 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 SC256491 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 SC256491 c:FRS102 2017-04-01 2018-03-31 SC256491 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 SC256491 c:FullAccounts 2017-04-01 2018-03-31 SC256491 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 SC256491 d:Subsidiary1 2018-03-31 SC256491 d:Subsidiary1 2017-04-01 2018-03-31 SC256491 d:Subsidiary1 1 2017-04-01 2018-03-31 SC256491 d:Subsidiary2 2018-03-31 SC256491 d:Subsidiary2 2017-04-01 2018-03-31 SC256491 d:Subsidiary2 1 2017-04-01 2018-03-31 SC256491 d:Subsidiary3 2018-03-31 SC256491 d:Subsidiary3 2017-04-01 2018-03-31 SC256491 d:Subsidiary3 1 2017-04-01 2018-03-31 SC256491 d:Subsidiary4 2018-03-31 SC256491 d:Subsidiary4 2017-04-01 2018-03-31 SC256491 d:Subsidiary4 1 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

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BROOMPARK HOLDINGS LIMITED


Company registration number SC256491


FILING FINANCIAL STATEMENTS


FOR THE YEAR ENDED 31 MARCH 2018































 
BROOMPARK HOLDINGS LIMITED
 

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 10



 
BROOMPARK HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
Mr P T Dalton 
Ms E G Hendry (appointed 10 November 2017)
Mr W T Hendry (appointed 10 November 2017)




Registered number
SC256491



Registered office
Gogarbank Iron & Steel Works
Station Road

Edinburgh

EH12 9BU




Accountants
Scott-Moncrieff

Exchange Place 3

Semple Street

Edinburgh

EH3 8BL




Solicitors
Addleshaw Goddard
Exchange Tower

19 Canning Street

Edinburgh

EH3 8EH




1

 
BROOMPARK HOLDINGS LIMITED
REGISTERED NUMBER:SC256491

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
143,276
245,443

Investments
 5 
11,762,417
8,437,417

  
11,905,693
8,682,860

Current assets
  

Stocks
 6 
963,739
920,465

Debtors: amounts falling due within one year
 7 
74,280
277,919

Cash at bank and in hand
  
304,816
945,883

  
1,342,835
2,144,267

Creditors: amounts falling due within one year
 8 
(3,845,561)
(1,441,174)

Net current (liabilities)/assets
  
 
 
(2,502,726)
 
 
703,093

Total assets less current liabilities
  
9,402,967
9,385,953

Provisions for liabilities
  

Deferred tax
 9 
(6,050)
(20,766)

  
 
 
(6,050)
 
 
(20,766)

Net assets
  
9,396,917
9,365,187


Capital and reserves
  

Called up share capital 
  
2,100
2,100

Profit and loss account
  
9,394,817
9,363,087

  
9,396,917
9,365,187


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 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 Section 1A 'Small Entities' of Financial Reporting Standard 102.

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

As permitted by Section 444 of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the company's Statement of Income and Retained Earnings for the year ended 31 March 2018.

2

 
BROOMPARK HOLDINGS LIMITED
REGISTERED NUMBER:SC256491
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr P T Dalton
Director

Date: 1 November 2018

The notes on pages 4 to 10 form part of these financial statements.

3


 
BROOMPARK HOLDINGS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

These financial statements are presented in Pounds Sterling (GBP), as that is the currency in which (the majority of) the company's transactions are denominated. They comprise the financial statements of the company drawn up for the year ended 31 March 2018.
The continuing activities of Broompark Holdings Limited is the hiring out of vehicles and machinery.  
The company is a private company limited by shares and is incorporated in the United Kingdom and registered in Scotland. Details of the registered office can be found on the company information page of these financial statements.  The company's registered number is SC256491.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with applicable law and United Kingdom Accounting Standards including Section 1A 'Small Entities' of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and The Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice applicable to Small Entities).
The preparation of financial statements in compliance with Section 1A ‘Small Entities’ of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company accounting policies. The director is satisfied that the accounting policies are appropriate and applied consistently and that there are no significant judgements. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The director is of the opinion that the company can continue to meet its obligations as they fall due for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

4


 
BROOMPARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.5

Tangible fixed assets

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.

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:

Freehold property
-
10% on cost
Plant and machinery
-
20% on cost
Motor vehicles
-
25% on cost

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 the Statement of income and retained earnings.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Stocks

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

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.

 
2.9

Cash and cash equivalents

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
5


 
BROOMPARK HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)


2.10
Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.11

Creditors

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.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 1).

6


 
BROOMPARK HOLDINGS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2017
-
828,104
208,805
1,036,909


Additions
6,760
-
-
6,760



At 31 March 2018

6,760
828,104
208,805
1,043,669



Depreciation


At 1 April 2017
-
714,810
76,656
791,466


Charge for the year on owned assets
169
75,721
33,037
108,927



At 31 March 2018

169
790,531
109,693
900,393



Net book value



At 31 March 2018
6,591
37,573
99,112
143,276



At 31 March 2017
-
113,294
132,149
245,443


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2017
8,437,417


Additions
3,325,000



At 31 March 2018

11,762,417






Net book value



At 31 March 2018
11,762,417



At 31 March 2017
8,437,417

7


 
BROOMPARK HOLDINGS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

           5.Fixed asset investments (continued)

Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name
Class of shares
Holding
Principal activity

Dalton Demolitions Limited
Ordinary
 100%
Demolition contractor.

Stephen Dalton Skip Hires Limited
Ordinary
 100%
Provision of skip hire services

Kinleith Industrial Estates Limited
Ordinary
 100%
Property letting and development of property for resale.

Brookfield Metal Recycling Limited
Ordinary
 100%
Dealing of scrap metal.


The aggregate of the share capital and reserves as at 31 March 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Aggregate of share capital and reserves
Profit/(loss)
£
£
Dalton Demolitions Limited

2,406,510

427,988

Stephen Dalton Skip Hires Limited

292,732

(107,392)

Kinleith Industrial Estates Limited

10,794,788

392,703

Brookfield Metal Recycling Limited

3,264,837

375,433

16,758,867

1,088,732


6.


Stocks

2018
2017
£
£

Property held for resale
963,739
920,465

963,739
920,465


8


 
BROOMPARK HOLDINGS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

7.


Debtors

2018
2017
£
£


Amounts owed by group undertakings
69,200
272,320

Other debtors
105
277

Prepayments and accrued income
4,975
5,322

74,280
277,919



8.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
1,800
-

Amounts owed to group undertakings
1,500,943
1,000,513

Corporation tax
29,667
59,460

Other taxation and social security
7,359
10,951

Other creditors
2,298,274
353,274

Accruals and deferred income
7,518
16,976

3,845,561
1,441,174



9.


Deferred taxation




2018
2017


£

£






At beginning of year
(20,766)
(54,585)


Charged to profit or loss
14,716
33,819



At end of year
(6,050)
(20,766)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


Accelerated capital allowances
(6,050)
(20,766)

(6,050)
(20,766)

9


 
BROOMPARK HOLDINGS LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

10.


Related party transactions

Mr P T Dalton
Director and shareholder
During the year, Broompark Holdings Limited purchased the entire share capital of Brookfield Metal Recycling Limited.  The purchase was part funded by Mr P T Dalton and at the year end £2,298,274 
(2017: £353,274) was due to Mr P T Dalton.

 
10