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COMPANY REGISTRATION NUMBER: 06761687
Brookdale Transport Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Brookdale Transport Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
3,112,443
2,250,390
Current assets
Debtors
6
1,251,192
913,680
Cash at bank and in hand
27,611
194,303
------------
------------
1,278,803
1,107,983
Creditors: amounts falling due within one year
7
2,660,892
2,591,670
------------
------------
Net current liabilities
1,382,089
1,483,687
------------
------------
Total assets less current liabilities
1,730,354
766,703
Creditors: amounts falling due after more than one year
8
668,036
66,715
Provisions
384,690
306,866
------------
---------
Net assets
677,628
393,122
------------
---------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
22,913
22,913
Profit and loss account
654,714
370,208
---------
---------
Shareholders funds
677,628
393,122
---------
---------
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 profit and loss account has not been delivered.
For the year ending 30 November 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 .
Brookdale Transport Limited
Balance Sheet (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
D E Hidle
Director
Company registration number: 06761687
Brookdale Transport Limited
Notes to the Financial Statements
Year ended 30 November 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 14 Astley Way, Swillington, Leeds, West Yorkshire, LS26 8XT.
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 tangible fixed assets. The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements have been rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Depreciation policy of Tangible Fixed Assets The director has made a judgement on the economic life and the residual values of the fixed assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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 the asset. The director has reviewed the useful economic life and estimated residual value of certain assets and reduced the rate used. If the rate had not been adjusted the annual depreciation charge would have been increased by £104,065. The rates used are as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
10% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 balance sheet 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 as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 40 (2022: 40 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost or valuation
At 1 December 2022
80,937
2,722,867
52,812
2,856,616
Additions
744
1,140,669
1,141,413
Disposals
( 26,100)
( 26,100)
--------
------------
--------
------------
At 30 November 2023
81,681
3,837,436
52,812
3,971,929
--------
------------
--------
------------
Depreciation
At 1 December 2022
31,844
546,494
27,888
606,226
Charge for the year
8,319
241,045
3,896
253,260
--------
------------
--------
------------
At 30 November 2023
40,163
787,539
31,784
859,486
--------
------------
--------
------------
Carrying amount
At 30 November 2023
41,518
3,049,897
21,028
3,112,443
--------
------------
--------
------------
At 30 November 2022
49,093
2,176,373
24,924
2,250,390
--------
------------
--------
------------
6. Debtors
2023
2022
£
£
Trade debtors
918,329
554,968
Other debtors
332,863
358,712
------------
---------
1,251,192
913,680
------------
---------
Included in "Other debtors" is a balance of £96,280 (2022: £62,791) due from the director. The loan is unsecured and repayable on demand. Interest is charged at the official rate set by H M Revenue & Customs.
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
16,097
10,000
Trade creditors
212,026
269,426
Amounts owed to group undertakings and undertakings in which the company has a participating interest
832,752
1,322,149
Social security and other taxes
575,007
413,976
Factoring account
807,848
506,224
Other creditors
217,162
69,895
------------
------------
2,660,892
2,591,670
------------
------------
The factoring account balance of £807,848 (2022: £506,224) is secured by a charge over the company's assets.
Included in "Other creditors" is an amount of £208,741 (2022: £45,050) due under hire purchase contracts which is secured by a charge over the assets being acquired.
The "Amounts owed to group undertakings and undertakings in which the company has a participating interest" are unsecured, interest free and repayable on demand.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,000
25,000
Other creditors
653,036
41,715
---------
--------
668,036
66,715
---------
--------
Included in "Other creditors" is an amount of £653,056 (2022: £41,715) due under hire purchase contracts which is secured by a charge over the assets being acquired.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D E Hidle
62,791
33,490
96,281
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D E Hidle
62,791
62,791
----
--------
--------
10. Controlling party
The company is a wholly owned subsidiary of Brookdale Group Limited (registered office: 14 Astley Way Industrial Estate, Swillington, Leeds LS26 8XT).