Breckenhill Limited NI050901 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the provision of wedding and recreational activities and events. Digita Accounts Production Advanced 6.30.9574.0 true NI050901 2022-04-01 2023-03-31 NI050901 2023-03-31 NI050901 bus:CompanySecretaryDirector1 1 2023-03-31 NI050901 core:CurrentFinancialInstruments 2023-03-31 NI050901 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI050901 core:Non-currentFinancialInstruments 2023-03-31 NI050901 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI050901 core:FurnitureFittings 2023-03-31 NI050901 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 NI050901 core:PlantMachinery 2023-03-31 NI050901 bus:SmallEntities 2022-04-01 2023-03-31 NI050901 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI050901 bus:FullAccounts 2022-04-01 2023-03-31 NI050901 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI050901 bus:RegisteredOffice 2022-04-01 2023-03-31 NI050901 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 NI050901 bus:CompanySecretaryDirector1 1 2022-04-01 2023-03-31 NI050901 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI050901 core:FurnitureFittings 2022-04-01 2023-03-31 NI050901 core:LandBuildings 2022-04-01 2023-03-31 NI050901 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 NI050901 core:PlantMachinery 2022-04-01 2023-03-31 NI050901 countries:NorthernIreland 2022-04-01 2023-03-31 NI050901 2022-03-31 NI050901 bus:CompanySecretaryDirector1 1 2022-03-31 NI050901 core:FurnitureFittings 2022-03-31 NI050901 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 NI050901 core:PlantMachinery 2022-03-31 NI050901 2021-04-01 2022-03-31 NI050901 2022-03-31 NI050901 core:CurrentFinancialInstruments 2022-03-31 NI050901 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI050901 core:Non-currentFinancialInstruments 2022-03-31 NI050901 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI050901 core:FurnitureFittings 2022-03-31 NI050901 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 NI050901 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure

Registration number: NI050901

Breckenhill Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Breckenhill Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Breckenhill Limited

(Registration number: NI050901)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

76,349

63,742

Current assets

 

Debtors

5

13,022

9,921

Cash at bank and in hand

 

-

1,277

 

13,022

11,198

Creditors: Amounts falling due within one year

6

(93,588)

(86,568)

Net current liabilities

 

(80,566)

(75,370)

Total assets less current liabilities

 

(4,217)

(11,628)

Creditors: Amounts falling due after more than one year

6

(12,648)

(17,245)

Net liabilities

 

(16,865)

(28,873)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(16,867)

(28,875)

Shareholders' deficit

 

(16,865)

(28,873)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................
David Reade
Company secretary and director

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
45 Breckenhill Road
Doagh
Ballyclare
County Antrim
BT39 0TB
Northern Ireland

The presentation currency is £ Sterling.
The level of rounding is to the nearest £.

These financial statements were authorised for issue by the Board on 22 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performace model.

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Land and buildings

4% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 17).

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

148,663

43,911

26,071

218,645

Additions

-

-

22,853

22,853

At 31 March 2023

148,663

43,911

48,924

241,498

Depreciation

At 1 April 2022

95,480

38,383

21,040

154,903

Charge for the year

5,946

1,382

2,918

10,246

At 31 March 2023

101,426

39,765

23,958

165,149

Carrying amount

At 31 March 2023

47,237

4,146

24,966

76,349

At 31 March 2022

53,183

5,528

5,031

63,742

Included within the net book value of land and buildings above is £47,237 (2022 - £53,183) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

8,527

8,550

Prepayments

3,256

-

Other debtors

1,239

1,371

 

13,022

9,921

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

29,440

24,095

Trade creditors

 

29,124

32,057

Taxation and social security

 

823

927

Accruals and deferred income

 

15,263

16,611

Other creditors

 

18,938

12,878

 

93,588

86,568

Bank overdraft is secured by fixed and floating charge over the company assets.

 

Breckenhill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

12,648

17,245

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,648

17,245

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,597

4,406

Bank overdrafts

24,843

19,689

29,440

24,095

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Alloted, called up and fully paid of £1 each

2

2

2

2

         

9

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

David Reade

(12,878)

14,545

(20,606)

(18,938)

         
       

 

The above loan is unsecured, interest free and repayable on demand.