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Registration number: 00672265

R.A.Brinkworth (Investments) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

R.A.Brinkworth (Investments) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Financial Statements

4 to 7

 

R.A.Brinkworth (Investments) Limited

Company Information

Directors

S J Brinkworth

R A Brinkworth

Company secretary

R A Brinkworth

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

R.A.Brinkworth (Investments) Limited

Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,030

1,634

Investment property

6

2,120,000

2,120,000

 

2,121,030

2,121,634

Current assets

 

Debtors

7

19,543

19,445

Cash at bank and in hand

 

69,452

95,749

 

88,995

115,194

Creditors: Amounts falling due within one year

8

(638,917)

(635,797)

Net current liabilities

 

(549,922)

(520,603)

Total assets less current liabilities

 

1,571,108

1,601,031

Creditors: Amounts falling due after more than one year

8

(16,102)

(23,525)

Provisions for liabilities

(172,009)

(177,483)

Net assets

 

1,382,997

1,400,023

Capital and reserves

 

Called up share capital

2,025

2,025

Capital redemption reserve

416,942

416,942

Profit and loss account

964,030

981,056

Total equity

 

1,382,997

1,400,023

For the financial year ending 30 June 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

R.A.Brinkworth (Investments) Limited

Statement of Financial Position as at 30 June 2023

Approved and authorised by the Board on 1 February 2024 and signed on its behalf by:
 

.........................................

R A Brinkworth

Director

Company registration number: 00672265

 

R.A.Brinkworth (Investments) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property investment.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Going concern

The statement of financial position shows that at 30 June 2023 the company had net assets of £1,382,997 but with net current liabilities amounting to £549,922.

The company is supported by the directors, to whom an amount of £606,628 was due at 30 June 2023, and who have confirmed that they will continue to support the company until such time as the company has sufficient working capital.

The directors have considered the potential effect of the current economic uncertainty and global conflicts and it is their view that these will not have any impact on the company.

After making enquiries, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors consider it appropriate to continue to adopt the going concern basis in preparing the accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company's business. Turnover is stated net of Value Added Tax, discounts and rebates.

The company recognises rental income evenly over the period of the leases and licenses.

 

R.A.Brinkworth (Investments) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing difference reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Computer Equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors.

The directors use observable market prices, adjusted if necessary for any differences in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value. A corresponding prepayment in respect of transaction costs has been recognised and is being unwound through the Income Statement in line with the relevant expenses. 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 Income Statement 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.

 

R.A.Brinkworth (Investments) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

604

758

5

Tangible assets

Computer Equipment

Total
£

Cost or valuation

At 1 July 2022

4,187

4,187

At 30 June 2023

4,187

4,187

Depreciation

At 1 July 2022

2,553

2,553

Charge for the year

604

604

At 30 June 2023

3,157

3,157

Carrying amount

At 30 June 2023

1,030

1,030

At 30 June 2022

1,634

1,634

6

Investment properties

Fair value

2023
£

At 1 July 2022

2,120,000

At 30 June 2023

2,120,000

The investment properties are included at fair value as estimated by the directors at 30 June 2023 at an amount of £2,120,000.

7

Debtors

2023
£

2022
£

Trade debtors

13,072

14,662

Other debtors

6,471

4,783

19,543

19,445

 

R.A.Brinkworth (Investments) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Loans and borrowings

10

9,066

8,751

Trade creditors

 

3,080

971

Taxation and social security

 

2,012

2,648

Other creditors

 

624,759

623,427

 

638,917

635,797

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

10

16,102

23,525

9

Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. At 30 June 2023 this reserve includes an amount of £1,206,678 (2022: £1,201,204) that is not distributable.

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank loans

9,066

8,751

2023
£

2022
£

Non-current loans and borrowings

Bank loans

16,102

23,525

Bank loans are secured by legal charges over the company's investment properties and a fixed and floating charge over the other assets and undertakings of the company.