REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
BRANKSOME PARK HOLDINGS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
BRANKSOME PARK HOLDINGS LIMITED |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRANKSOME PARK HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Branksome Park Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable during the period, excluding value added tax. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixed assets are initially recognised at cost. |
Investment property |
Investment properties are included at their open market value. |
In accordance with the provisions of FRS102 freehold investment buildings are not depreciated. |
This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The director is of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view. |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 31 March 2024 |
AMORTISATION |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Revaluations |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 400,000 (2023 - £ 400,000 ) which is not depreciated. |
Cost or valuation at 31 March 2024 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2018 | 287,946 | - | 287,946 |
Valuation in 2021 | 150,000 | - | 150,000 |
Valuation in 2024 | 56,667 | - | 56,667 |
Cost | 495,387 | 47,348 | 542,735 |
990,000 | 47,348 | 1,037,348 |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
as restated |
£ | £ |
Cost | 495,387 | 495,387 |
Freehold land and buildings were valued on an open market basis on 27 July 2022 by Symonds & Sampson . |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | 28,333 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2018 | 143,973 |
Valuation in 2021 | 75,000 |
Valuation in 2024 | 28,333 |
Cost | 247,694 |
495,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
as restated |
£ | £ |
Cost | 247,694 | 247,694 |
Investment property was valued on an open market basis on 27 July 2022 by Symonds & Sampson . |
8. | DEBTORS |
2024 | 2023 |
as restated |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Bank loans |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
as restated |
£ | £ |
Bank loans |
12. | RESERVES |
Retained | Other |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | 1,128,341 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Transfer on reserves | (45,341 | ) | 45,341 | - |
At 31 March 2024 | 1,247,451 |
The other reserve is non distributable and relates to the revaluation of the investment property. |
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086 |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | RELATED PARTY DISCLOSURES |
TRANSACTIONS WITH GROUP COMPANIES |
Non interest bearing loans on which no terms of repayment have been agreed. The amount due from group companies at the balance sheet date amounted to £807,818 (2023 - £775,561). |
Non interest bearing loans on which no terms of repayment have been agreed. The amount due to group companies at the balance sheet date amounted to £151 (2023 - £151). |