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REGISTERED NUMBER: 00674931 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD.

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BROMLEY BUSINESS CENTRE (HOLDINGS) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr D R Garmson
Mr D M Garmson
Mr L D Williams





REGISTERED OFFICE: Willow Walk Business Centre
10 Willow Walk, Off Starts Hill Road
Orpington
Kent
BR6 7AA





REGISTERED NUMBER: 00674931 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Business Advisers and Accountants
Unit 2.02 High Weald House,
Glovers End
Bexhill
East Sussex
United Kingdom
TN39 5ES

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,339 34,618
Investments 5 107,430 -
Investment property 6 7,452,661 7,424,703
7,595,430 7,459,321

CURRENT ASSETS
Debtors 7 428,200 476,520
Cash at bank and in hand 1,790,815 3,800,907
2,219,015 4,277,427
CREDITORS
Amounts falling due within one year 8 407,083 402,098
NET CURRENT ASSETS 1,811,932 3,875,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,407,362

11,334,650

CREDITORS
Amounts falling due after more than one
year

9

-

(2,092,000

)

PROVISIONS FOR LIABILITIES (881,111 ) (207,240 )
NET ASSETS 8,526,251 9,035,410

CAPITAL AND RESERVES
Called up share capital 2,300 2,300
Other reserve 2,643,334 3,317,205
Special reserve 107,430 -
Retained earnings 5,773,187 5,715,905
SHAREHOLDERS' FUNDS 8,526,251 9,035,410

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr D R Garmson - Director


BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Bromley Business Centre (Holdings) Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER
Turnover represents the value, net of value added tax and discounts, of goods provided to the customers and work carried out in respect of services provided to the customers.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

CREDITORS
Short term trade 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

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023 42,709 99,910 2,298 18,461 163,378
Additions 5,830 738 - - 6,568
At 31 December 2023 48,539 100,648 2,298 18,461 169,946
Depreciation
At 1 January 2023 42,709 66,763 2,298 16,990 128,760
Charge for year 583 4,661 - 603 5,847
At 31 December 2023 43,292 71,424 2,298 17,593 134,607
Net book value
At 31 December 2023 5,247 29,224 - 868 35,339
At 31 December 2022 - 33,147 - 1,471 34,618

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£    £   
New Tudor LLP 107,430 -

6. INVESTMENT PROPERTY
Total
£   
Cost or valuation
At 1 January 2023 7,424,703
Additions 27,958
At 31 December 2023 7,452,661
Net book value
At 31 December 2023 7,452,661
At 31 December 2022 7,424,703

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2022 1,216,854
Cost 6,235,807
7,452,661

BROMLEY BUSINESS CENTRE (HOLDINGS) LTD. (REGISTERED NUMBER: 00674931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 53,370 69,628
Amounts owed by group undertakings 363,081 372,082
Other debtors 11,749 34,810
428,200 476,520

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,374 67,365
Taxation and social security 73,416 10,756
Other creditors 321,293 323,977
407,083 402,098

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2,092,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,092,000

Bank loans are secured against the company's investment property.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 2,092,000