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Company registration number: 13897210
Blackbrook Lodges Limited
Unaudited filleted financial statements
28 February 2024
Blackbrook Lodges Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Blackbrook Lodges Limited
Directors and other information
Directors David John Michael Ray
Gillian Anne Ray
Company number 13897210
Registered office 56 Lidgett Lane
Garforth
Leeds
LS25 1LL
Accountants SMH Howard Matthews Ltd
56 Lidgett Lane
Garforth
Leeds
LS25 1LL
Blackbrook Lodges Limited
Statement of financial position
28 February 2024
28/02/24 28/02/23
Note £ £ £ £
Fixed assets
Intangible assets 4 104,000 117,000
Tangible assets 5 1,264,112 1,161,687
_______ _______
1,368,112 1,278,687
Current assets
Debtors 6 20,972 14,210
Cash at bank and in hand 2,298 847
_______ _______
23,270 15,057
Creditors: amounts falling due
within one year 7 ( 295,946) ( 217,644)
_______ _______
Net current liabilities ( 272,676) ( 202,587)
_______ _______
Total assets less current liabilities 1,095,436 1,076,100
Creditors: amounts falling due
after more than one year 8 ( 1,060,640) ( 1,104,979)
Provisions for liabilities ( 18,101) -
_______ _______
Net assets/(liabilities) 16,695 ( 28,879)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,595 ( 28,979)
_______ _______
Shareholders funds/(deficit) 16,695 ( 28,879)
_______ _______
For the year ending 28 February 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 19 July 2024 , and are signed on behalf of the board by:
David John Michael Ray
Director
Company registration number: 13897210
Blackbrook Lodges Limited
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Lidgett House, 56 Lidgett Lane, Garforth, Leeds, LS25 1LL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is rental income and services provided.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Land and property is carried at revalued amounts and recorded at the fair value at the date of revaluation. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Intangible assets
Goodwill Total
£ £
Cost
At 1 March 2023 and 28 February 2024 130,000 130,000
_______ _______
Amortisation
At 1 March 2023 13,000 13,000
Charge for the year 13,000 13,000
_______ _______
At 28 February 2024 26,000 26,000
_______ _______
Carrying amount
At 28 February 2024 104,000 104,000
_______ _______
At 28 February 2023 117,000 117,000
_______ _______
5. Tangible assets
Land & property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost or valuation
Additions 20,267 200 12,096 32,563
Revaluation 72,406 - - 72,406
_______ _______ _______ _______
At 28 February 2024 1,250,000 540 16,925 1,267,465
_______ _______ _______ _______
Depreciation
Charge for the year - 114 2,430 2,544
_______ _______ _______ _______
At 28 February 2024 - 199 3,154 3,353
_______ _______ _______ _______
Carrying amount
At 28 February 2024 1,250,000 341 13,771 1,264,112
_______ _______ _______ _______
At 28 February 2023 1,157,327 255 4,105 1,161,687
_______ _______ _______ _______
6. Debtors
28/02/24 28/02/23
£ £
Trade debtors 20,972 14,110
Other debtors - 100
_______ _______
20,972 14,210
_______ _______
7. Creditors: amounts falling due within one year
28/02/24 28/02/23
£ £
Bank loans and overdrafts 54,000 54,000
Trade creditors 4,929 174
Other creditors 237,017 163,470
_______ _______
295,946 217,644
_______ _______
8. Creditors: amounts falling due after more than one year
28/02/24 28/02/23
£ £
Bank loans and overdrafts 1,060,640 1,104,979
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 28/02/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
David John Michael Ray 50 ( 633) ( 583)
Gillian Anne Ray 50 ( 633) ( 583)
_______ _______ _______
100 ( 1,266) ( 1,166)
_______ _______ _______
Period Ended 28/02/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
David John Michael Ray - 50 50
Gillian Anne Ray - 50 50
_______ _______ _______
- 100 100
_______ _______ _______