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REGISTERED NUMBER: 04550770 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

FOR

BREANDAN FLYNN INVESTMENTS LIMITED

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BREANDAN FLYNN INVESTMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2022







DIRECTOR: Mr B S M Flynn





SECRETARY: Mr B S M Flynn





REGISTERED OFFICE: Sandfold House
Sandflold Lane
Levenshulme
Manchester
Lancashire
M19 3BJ





REGISTERED NUMBER: 04550770 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

BALANCE SHEET
31st December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 30,030 30,038
Investment property 6 25,384,000 19,445,495
25,414,030 19,475,533

CURRENT ASSETS
Debtors 7 12,334,158 16,435,765
Cash at bank 219,717 876,244
12,553,875 17,312,009
CREDITORS
Amounts falling due within one year 8 (2,838,012 ) (3,111,247 )
NET CURRENT ASSETS 9,715,863 14,200,762
TOTAL ASSETS LESS CURRENT LIABILITIES 35,129,893 33,676,295

CREDITORS
Amounts falling due after more than one year 9 (17,208,299 ) (22,146,607 )

PROVISIONS FOR LIABILITIES 12 (1,484,626 ) (1,332,412 )
NET ASSETS 16,436,968 10,197,276

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

BALANCE SHEET - continued
31st December 2022

2022 2021
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 13 13,183,986 7,245,481
Retained earnings 3,252,980 2,951,793
SHAREHOLDERS' FUNDS 16,436,968 10,197,276

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th November 2023 and were signed by:





Mr B S M Flynn - Director


BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2022


1. STATUTORY INFORMATION

Breandan Flynn Investments Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04550770. The address of the registered office and the principal place of business is Sandfold House, Sandfold Lane, Levenshulme, Manchester, M19 3BJ.

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.

Preparation of consolidated financial statements
The financial statements contain information about Breandan Flynn Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings-25% on cost
Motor vehicles-25% on cost

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st January 2022
and 31st December 2022 10,831 4,175 15,006
DEPRECIATION
At 1st January 2022
and 31st December 2022 10,831 4,175 15,006
NET BOOK VALUE
At 31st December 2022 - - -
At 31st December 2021 - - -

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1st January 2022 38 30,000 30,038
Disposals (8 ) - (8 )
At 31st December 2022 30 30,000 30,030
NET BOOK VALUE
At 31st December 2022 30 30,000 30,030
At 31st December 2021 38 30,000 30,038

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2022 19,445,495
Revaluations 5,938,505
At 31st December 2022 25,384,000
NET BOOK VALUE
At 31st December 2022 25,384,000
At 31st December 2021 19,445,495

Fair value at 31st December 2022 is represented by:
£   
Valuation in 2022 5,938,505
Cost 19,445,495
25,384,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 52,290 31,976
Amounts owed by participating interests 12,219,831 16,345,676
Other debtors 36,716 32,953
Prepayments and accrued income 25,321 25,160
12,334,158 16,435,765

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Trade creditors 220,525 113,295
Tax 187,734 370,969
Social security and other taxes 2,196 4,625
VAT 46,480 14,422
Other creditors 10,607 173,770
Directors' current accounts 2,353,388 2,411,983
Accrued expenses 7,082 12,183
2,838,012 3,111,247

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans (see note 10) 8,335,515 8,345,515
Other creditors 2,872,784 7,801,092
Directors' loan accounts 6,000,000 6,000,000
17,208,299 22,146,607

10. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,321,348 8,321,348

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,167 24,167

11. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank Loans 8,311,348 8,311,348

The bank loans are secured by a mortgage debenture over the assets of the company together with a £2million personal guarantee from Mr B Flynn the director.

12. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 1,484,626 1,332,412

BREANDAN FLYNN INVESTMENTS LIMITED (REGISTERED NUMBER: 04550770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2022


12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2022 1,332,412
Charged to profit and loss 152,214
Balance at 31st December 2022 1,484,626

13. RESERVES
Fair
value
reserve
£   
At 1st January 2022 7,245,481
Transfer between reserves 5,938,505

At 31st December 2022 13,183,986

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is a loan owed to the director's family member of £230,000 (2021: £233,832). This loan is interest free and has no set repayment date.

15. RELATED PARTY DISCLOSURES

Included within Other Debtors is an amount of £12,219,831 (2021: £16,345,676) due from companies under common control. These amounts are interest free and due on demand.

16. ULTIMATE CONTROLLING PARTY

The controlling party is Mr B S M Flynn.