Company registration number 08910723 (England and Wales)
BRAMPTON PARK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
BRAMPTON PARK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BRAMPTON PARK LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Current assets
Stocks
-
278,159
Debtors
3
2,248,490
2,663,561
Cash at bank and in hand
263,246
11,586
2,511,736
2,953,306
Creditors: amounts falling due within one year
4
(2,595,812)
(3,033,627)
Net current liabilities
(84,076)
(80,321)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(84,176)
(80,421)
Total equity
(84,076)
(80,321)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These 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 29 November 2023 and are signed on its behalf by:
T J Markham
Director
Company registration number 08910723 (England and Wales)
BRAMPTON PARK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Brampton Park Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Lancaster Way, Ermine Business Park, Huntingdon, Cambridgeshire, England, PE29 6XU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities that amount to £true84,176 (2022: £80,421) at the balance sheet date. The company is continuing to undertake property development, land improvement and management services in connection with a development site which the directors are still confident will be profitable.

Therefore, at the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting on preparing the financial statements.

1.3
Turnover

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BRAMPTON PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BRAMPTON PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
3
Debtors
2023
2022
Amounts falling due within one year:
as restated
£
£
Trade debtors
193,250
-
0
Other debtors
2,055,240
2,663,561
2,248,490
2,663,561
4
Creditors: amounts falling due within one year
2023
2022
as restated
£
£
Trade creditors
85,751
765,364
Taxation and social security
-
0
75
Other creditors
2,510,061
2,268,188
2,595,812
3,033,627

Included within other creditors is a loan of £2,000,000 (2022: £2,000,000) due to a commercial partner of the company. The loan is interest free and repayable upon receipt of bond monies to be received from Cambridgeshire County Council. As such, the loan has been treated as due within one year.

5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
BRAMPTON PARK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
6
Prior period adjustment

The following prior year adjustments have been recognised:

 

Other debtors and other creditors

Prior period adjustments to other debtors and other creditors have been recognised in respect of a bond loan issued to the company in 2017, which was subsequently paid to Cambridgeshire County Council, totalling £2,000,000 in relation to the Section 278 Highways Agreement and Section 38 Road Adoption Agreement. The bond paid to Cambridgeshire County Council is repayable to the company and therefore historically the balances now recognised within other debtors and other creditors have been net off.

 

Reconciliation of changes in profit and loss

The prior period adjustments do not give rise to any effect upon profit and loss.

 

Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
2023-02-282022-03-01false29 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityT J MarkhamH P Haigfalse089107232022-03-012023-02-28089107232023-02-28089107232022-02-2808910723core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2808910723core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2808910723core:ShareCapital2023-02-2808910723core:ShareCapital2022-02-2808910723core:RetainedEarningsAccumulatedLosses2023-02-2808910723core:RetainedEarningsAccumulatedLosses2022-02-2808910723bus:Director12022-03-012023-02-28089107232021-03-012022-02-2808910723core:CurrentFinancialInstruments2023-02-2808910723core:CurrentFinancialInstruments2022-02-2808910723core:WithinOneYear2023-02-2808910723core:WithinOneYear2022-02-2808910723bus:PrivateLimitedCompanyLtd2022-03-012023-02-2808910723bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2808910723bus:FRS1022022-03-012023-02-2808910723bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2808910723bus:Director22022-03-012023-02-2808910723bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP