Company registration number 13259089 (England and Wales)
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Unaudited Financial Statements
For The Period Ended 30 November 2023
Pages For Filing With Registrar
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Accountants' Report To The Director On The Preparation Of The Unaudited Statutory Financial Statements Of Brockenhurst Homes (The Spinney) Limited For The Period Ended 30 November 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brockenhurst Homes (The Spinney) Limited for the period ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Brockenhurst Homes (The Spinney) Limited, as a body, in accordance with the terms of our engagement letter dated 22 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Brockenhurst Homes (The Spinney) Limited and state those matters that we have agreed to state to the board of directors of Brockenhurst Homes (The Spinney) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brockenhurst Homes (The Spinney) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Brockenhurst Homes (The Spinney) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Brockenhurst Homes (The Spinney) Limited. You consider that Brockenhurst Homes (The Spinney) Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Brockenhurst Homes (The Spinney) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys Limited
24 September 2024
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Balance Sheet
As At 30 November 2023
30 November 2023
- 2 -
30 November 2023
31 March 2023
Notes
£
£
£
£
Fixed assets
Investment property
4
1,775,194
1,775,193
Current assets
Debtors
5
3,746
3,747
Creditors: amounts falling due within one year
6
(1,778,939)
(1,778,939)
Net current liabilities
(1,775,193)
(1,775,192)
Net assets
1
1
Capital and reserves
Called up share capital
1
1
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 September 2024
Mr NE Holmes
Director
Company Registration No. 13259089
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Notes To The Financial Statements
For The Period Ended 30 November 2023
- 3 -
1
Accounting policies
Company information
Brockenhurst Homes (The Spinney) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the period or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Borrowing costs related to fixed assets
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
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.
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Notes To The Financial Statements (Continued)
For The Period Ended 30 November 2023
1
Accounting policies
(Continued)
- 4 -
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 payments 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 are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Brockenhurst Homes (The Spinney) Limited
BROCKENHURST HOMES (THE SPINNEY) LIMITED
Notes To The Financial Statements (Continued)
For The Period Ended 30 November 2023
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2023
Number
Number
Total
1
1
4
Investment property
2023
£
Fair value
At 1 April 2023 and 30 November 2023
1,775,194
It is the director's opinion that the carrying value of the investment property at the balance sheet date is a fair representation of the market value at that date.
5
Debtors
2023
2023
Amounts falling due within one year:
£
£
Trade debtors
1
Other debtors
3,746
3,746
3,746
3,747
6
Creditors: amounts falling due within one year
2023
2023
£
£
Amounts owed to group undertakings
1,253,627
1,253,627
Other creditors
525,312
525,312
1,778,939
1,778,939