Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31false112022-06-01No description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10016532 2022-06-01 2023-05-31 10016532 2021-06-01 2022-05-31 10016532 2023-05-31 10016532 2022-05-31 10016532 c:Director1 2022-06-01 2023-05-31 10016532 d:MotorVehicles 2022-06-01 2023-05-31 10016532 d:MotorVehicles 2023-05-31 10016532 d:MotorVehicles 2022-05-31 10016532 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 10016532 d:FreeholdInvestmentProperty 2023-05-31 10016532 d:FreeholdInvestmentProperty 2022-05-31 10016532 d:CurrentFinancialInstruments 2023-05-31 10016532 d:CurrentFinancialInstruments 2022-05-31 10016532 d:CurrentFinancialInstruments 1 2023-05-31 10016532 d:CurrentFinancialInstruments 1 2022-05-31 10016532 d:Non-currentFinancialInstruments 2023-05-31 10016532 d:Non-currentFinancialInstruments 2022-05-31 10016532 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10016532 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10016532 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10016532 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 10016532 d:ShareCapital 2023-05-31 10016532 d:ShareCapital 2022-05-31 10016532 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 10016532 d:RetainedEarningsAccumulatedLosses 2023-05-31 10016532 d:RetainedEarningsAccumulatedLosses 2022-05-31 10016532 d:OtherDeferredTax 2023-05-31 10016532 d:OtherDeferredTax 2022-05-31 10016532 c:FRS102 2022-06-01 2023-05-31 10016532 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10016532 c:FullAccounts 2022-06-01 2023-05-31 10016532 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10016532 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 10016532 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 10016532 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 10016532 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 10016532









BRENCHLEY HOUSE MAIDSTONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
REGISTERED NUMBER: 10016532

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,034
28,927

Investment property
 5 
32,260,967
32,260,967

  
32,287,001
32,289,894

Current assets
  

Debtors: amounts falling due within one year
 6 
4,551,820
4,282,011

Cash at bank and in hand
 7 
123,274
272,024

  
4,675,094
4,554,035

Creditors: amounts falling due within one year
 8 
(7,828,761)
(7,805,426)

Net current liabilities
  
 
 
(3,153,667)
 
 
(3,251,391)

Total assets less current liabilities
  
29,133,334
29,038,503

Creditors: amounts falling due after more than one year
 9 
(24,438,586)
(24,481,244)

Provisions for liabilities
  

Deferred tax
 11 
(1,970,729)
(1,970,729)

  
 
 
(1,970,729)
 
 
(1,970,729)

Net assets
  
2,724,019
2,586,530


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
 12 
2,724,018
2,586,529

  
2,724,019
2,586,530


Page 1

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
REGISTERED NUMBER: 10016532
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2024.




N Zamek
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Brenchley House Maidstone is a private company, limited by shares, and incorporated in England & Wales. The registered office address is The Office, Inglewood Mansions, 289 West End Lane, London, NW6 1RE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises rental income received from the company's investment properties and is recognised in accordance with the lease terms.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the statement of financial position.

 
2.12

Financial instruments

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


Page 5

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 June 2022
38,398



At 31 May 2023

38,398



Depreciation


At 1 June 2022
9,471


Charge for the year on financed assets
2,893



At 31 May 2023

12,364



Net book value



At 31 May 2023
26,034



At 31 May 2022
28,927


5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
32,260,967



At 31 May 2023
32,260,967

The 2023 valuations were made by the director, on an open market value for existing use basis.







Page 6

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
95,858
138,360

Amounts owed by group undertakings
4,224,092
3,848,532

Other debtors
73,587
84,467

Prepayments and accrued income
75,783
83,152

Financial instruments
82,500
127,500

4,551,820
4,282,011



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
123,274
272,024

123,274
272,024



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,952
9,707

Trade creditors
168,877
173,188

Amounts owed to group undertakings
7,045,240
7,180,738

Obligations under finance lease and hire purchase contracts
4,836
4,836

Other creditors
263,228
228,034

Accruals and deferred income
336,628
208,923

7,828,761
7,805,426


Page 7

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
24,434,682
24,472,588

Net obligations under finance leases and hire purchase contracts
3,904
8,656

24,438,586
24,481,244


Trimont Real Estate Advisors, U.K., LTD. holds fixed and floating charges over Brenchley House Maidstone Limited. The floating charge covers all of the property or undertaking of the company. The charges also contain a negative pledge.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,836
4,836

Between 1-5 years
3,904
8,656

8,740
13,492

Page 8

 
BRENCHLEY HOUSE MAIDSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

11.


Deferred taxation




2023


£






At beginning of year
(1,970,729)



At end of year
(1,970,729)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gains
(1,970,729)
(1,970,729)

(1,970,729)
(1,970,729)


12.


Reserves

Profit and loss account

Included in reserves carried forward are unrealised gains of £8,543,883 (2022: £8,543,883) relating to the revaluation of investments properties. Deferred tax provided in respect of these gains amounted to £1,970,729 (2022: £1,970,729). Accordingly there are non-distributable reserves of £6,573,154 (2022: £6,573,154) included in retained earnings carried forward.


13.


Related party transactions

At the reporting date £4,224,092 (2022: £3,848,532) was due from Companies with common directors and £7,045,240 (2022: £7,180,738) was due to companies with common directors.


14.


Controlling party

The company's immediate and ultimate controlling party is N Zamek, the director of the company.

 
Page 9