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COMPANY REGISTRATION NUMBER: 13405433
BROOK DRIVE LTD
Filleted Unaudited Financial Statements
31 May 2023
BROOK DRIVE LTD
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
983,549
965,653
Current assets
Debtors
6
5,000
5,000
Cash at bank and in hand
3,532
3,594
-------
-------
8,532
8,594
Creditors: amounts falling due within one year
7
307,724
303,377
---------
---------
Net current liabilities
299,192
294,783
---------
---------
Total assets less current liabilities
684,357
670,870
Creditors: amounts falling due after more than one year
8
688,500
688,500
---------
---------
Net liabilities
( 4,143)
( 17,630)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,243)
( 17,730)
-------
--------
Shareholders deficit
( 4,143)
( 17,630)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BROOK DRIVE LTD
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
Mr S Deane
Director
Company registration number: 13405433
BROOK DRIVE LTD
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 80 Katherine Road, London, E6 1EN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rental income receivable. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold property
£
Cost
At 1 June 2022
965,653
Additions
17,896
---------
At 31 May 2023
983,549
---------
Depreciation
At 1 June 2022 and 31 May 2023
---------
Carrying amount
At 31 May 2023
983,549
---------
At 31 May 2022
965,653
---------
The company's investment property was revalued on a fair value basis by the director on 31 May 2023.
6. Debtors
2023
2022
£
£
Other debtors
5,000
5,000
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
307,724
303,377
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
688,500
688,500
---------
---------
The bank loans and overdrafts are secured by the company.