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REGISTERED NUMBER: 05154394 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Branchwater Developments Limited

Branchwater Developments Limited (Registered number: 05154394)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Branchwater Developments Limited (Registered number: 05154394)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3 3
Investment property 5 30,650,000 30,650,000
30,650,003 30,650,003

CURRENT ASSETS
Debtors 6 20,843,499 19,502,624
Cash at bank 732,952 394,566
21,576,451 19,897,190
CREDITORS
Amounts falling due within one year 7 19,618,988 17,813,834
NET CURRENT ASSETS 1,957,463 2,083,356
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,607,466

32,733,359

CREDITORS
Amounts falling due after more than one year 8 (27,236,131 ) (25,870,993 )

PROVISIONS FOR LIABILITIES (1,724,380 ) (1,677,904 )
NET ASSETS 3,646,955 5,184,462

CAPITAL AND RESERVES
Called up share capital 5 5
Revaluation reserve 10 6,897,521 8,828,511
Retained earnings (3,250,571 ) (3,644,054 )
3,646,955 5,184,462

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Branchwater Developments Limited (Registered number: 05154394)

Balance Sheet - continued
31 October 2023


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 22 October 2024 and were signed on its behalf by:





Mrs H L Davies - Director


Branchwater Developments Limited (Registered number: 05154394)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Branchwater Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05154394

Registered office: Cawthorne House, 19 Tivy Dale
Cawthorne
Barnsley
South Yorkshire
S75 4EJ

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in associates
Investments in associate undertakings are recognised at 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 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.

Branchwater Developments Limited (Registered number: 05154394)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 November 2022
and 31 October 2023 3
NET BOOK VALUE
At 31 October 2023 3
At 31 October 2022 3

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 30,650,000
NET BOOK VALUE
At 31 October 2023 30,650,000
At 31 October 2022 30,650,000

There are a number of charges, both fixed and floating over the assets of the company.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2018 30,650,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 19,587,146 12,997,050
Other debtors 1,256,353 6,505,574
20,843,499 19,502,624

Branchwater Developments Limited (Registered number: 05154394)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 6,000 5,000
Trade creditors 114,748 98,280
Amounts owed to group undertakings 18,955,671 17,024,682
Other taxation & social security 16,066 1
Other creditors 526,503 685,871
19,618,988 17,813,834

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,185,633 25,870,993
Other creditors 1,050,498 -
27,236,131 25,870,993

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 15,245,894 15,244,660
Hampshire Trust Bank 10,882,200 10,580,305
26,128,094 25,824,965

Repayable by instalments
Bank loans more 5 yr by instal 13,216 20,173
Other loans more 5yrs instal 1,050,498 -
1,063,714 20,173

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,069,627 -
Bank Loans 26,128,094 25,824,965
27,197,721 25,824,965

The loan is secured against the investment property.

Branchwater Developments Limited (Registered number: 05154394)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 8,828,511
Prior year adjustment (1,930,990 )

At 31 October 2023 6,897,521