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REGISTERED NUMBER: 04625674 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Brook & Mayo Limited

Brook & Mayo Limited (Registered number: 04625674)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Income Statement 2

Balance Sheet 3

Notes to the Financial Statements 5


Brook & Mayo Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: P Scattergood
D C Chambers
D E Sewell
J A P Lill





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





BUSINESS ADDRESS: Unit 5 Deepdale Enterprise Park
Nettleham
Lincoln
Lincolnshire
LN2 2LL





REGISTERED NUMBER: 04625674 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Brook & Mayo Limited (Registered number: 04625674)

Income Statement
for the Year Ended 31 March 2022

2022 2021
£    £   

TURNOVER 5,983,442 4,683,090

Cost of sales 4,796,521 3,876,709
GROSS PROFIT 1,186,921 806,381

Administrative expenses 1,071,281 1,028,595
115,640 (222,214 )

Other operating income 86,862 269,596
OPERATING PROFIT 202,502 47,382

Interest receivable and similar income 1,601 2,471
PROFIT BEFORE TAXATION 204,103 49,853

Tax on profit 21,870 (28,741 )
PROFIT FOR THE FINANCIAL YEAR 182,233 78,594

Brook & Mayo Limited (Registered number: 04625674)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 863,200 923,614
Investments 5 - -
863,200 923,614

CURRENT ASSETS
Stocks 6 87,073 107,630
Debtors 7 1,293,809 1,864,666
Cash at bank and in hand 855,618 420,292
2,236,500 2,392,588
CREDITORS
Amounts falling due within one year 8 782,922 1,021,740
NET CURRENT ASSETS 1,453,578 1,370,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,316,778

2,294,462

CREDITORS
Amounts falling due after more than one
year

9

(306,632

)

(401,685

)

PROVISIONS FOR LIABILITIES (88,080 ) (92,807 )
NET ASSETS 1,922,066 1,799,970

CAPITAL AND RESERVES
Called up share capital 11 1,110 1,110
Share premium 12 43,976 43,976
Capital redemption reserve 12 476 476
Retained earnings 12 1,876,504 1,754,408
SHAREHOLDERS' FUNDS 1,922,066 1,799,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Brook & Mayo Limited (Registered number: 04625674)

Balance Sheet - continued
31 March 2022


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

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by:





D E Sewell - Director


Brook & Mayo Limited (Registered number: 04625674)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Brook & Mayo 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.

Turnover
Turnover comprises the value of electrical contracting work executed during the year plus the invoiced value of other sales. The value of electrical contracting work is based on management valuations, incorporating profit earned to the year end date and adjusted for any anticipated losses. Other sales are invoiced upon performance of the services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost and 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost less impairment.

Work in progress
Work in progress is valued at the lower of cost and net realisable value for work undertaken but not billed at the year end. The value is adjusted for irrecoverable costs on contracts.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Brook & Mayo Limited (Registered number: 04625674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contract
The amount by which recorded turnover on uncompleted jobs is in excess of invoiced amounts is classified as amounts recoverable on contracts and separately disclosed in debtors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2021 - 49 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2021 635,301 12,039 32,994
Additions 2,350 1,249 703
Disposals - (696 ) -
At 31 March 2022 637,651 12,592 33,697
DEPRECIATION
At 1 April 2021 41,504 9,163 17,944
Charge for year 16,281 631 3,216
Eliminated on disposal - (341 ) -
At 31 March 2022 57,785 9,453 21,160
NET BOOK VALUE
At 31 March 2022 579,866 3,139 12,537
At 31 March 2021 593,797 2,876 15,050

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2021 610,795 129,809 1,420,938
Additions 91,841 4,159 100,302
Disposals (151,586 ) - (152,282 )
At 31 March 2022 551,050 133,968 1,368,958
DEPRECIATION
At 1 April 2021 315,626 113,087 497,324
Charge for year 83,541 12,587 116,256
Eliminated on disposal (107,481 ) - (107,822 )
At 31 March 2022 291,686 125,674 505,758
NET BOOK VALUE
At 31 March 2022 259,364 8,294 863,200
At 31 March 2021 295,169 16,722 923,614

Brook & Mayo Limited (Registered number: 04625674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021 226,470
Additions 48,255
Disposals (16,162 )
At 31 March 2022 258,563
DEPRECIATION
At 1 April 2021 70,709
Charge for year 51,004
Eliminated on disposal (8,207 )
At 31 March 2022 113,506
NET BOOK VALUE
At 31 March 2022 145,057
At 31 March 2021 155,761

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2021
and 31 March 2022 34,650
PROVISIONS
At 1 April 2021
and 31 March 2022 34,650
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

6. STOCKS
2022 2021
£    £   
Work-in-progress 87,073 107,630

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 931,157 1,484,196
Amounts owed by associates 13,386 39,526
Amounts recoverable on contracts 77,165 66,139
Other debtors 129,735 134,379
Directors' current accounts 5,688 7,786
VAT 48,211 32,229
Prepayments and accrued income 88,467 100,411
1,293,809 1,864,666

Brook & Mayo Limited (Registered number: 04625674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 18,236 27,135
Hire purchase contracts 50,335 42,945
Trade creditors 394,439 594,693
Taxation and social security 76,937 58,809
Other creditors 242,975 298,158
782,922 1,021,740

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 213,120 278,164
Hire purchase contracts 93,512 123,521
306,632 401,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 134,582 162,440

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 231,356 305,299
Hire purchase contracts 143,847 166,466
375,203 471,765

Hire purchase contracts are secured against the assets in which they relate to.

The bank loan is secured by way of a registered charge over the freehold property.

11. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
110,998 Ordinary £0.01 1,110 1,110

Brook & Mayo Limited (Registered number: 04625674)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

12. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 April 2021 1,754,408 43,976 476 1,798,860
Profit for the year 182,233 182,233
Dividends (60,137 ) (60,137 )
At 31 March 2022 1,876,504 43,976 476 1,920,956

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
D E Sewell
Balance outstanding at start of year 98 11,789
Amounts advanced 2,776 98
Amounts repaid (2,874 ) (11,789 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 98

J A P Lill
Balance outstanding at start of year 7,688 -
Amounts advanced - 7,688
Amounts repaid (2,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,688 7,688