K E H BROWNLIE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
K E H BROWNLIE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
K E H BROWNLIE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
19 Buccleuch Street |
Hawick |
Roxburghshire |
TD9 0HL |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Fair value reserve | 10 |
Retained earnings |
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. |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
BALANCE SHEET - continued |
30TH JUNE 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
K E H Brownlie Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of not less than twelve months. The directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
The turnover shown in the profit and loss account represents rental and sundry income earned during the year. |
Tangible fixed assets |
Plant and machinery - 20% on reducing balance. |
Investment property |
Investment property is valued at fair market value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial assets |
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price. |
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement. |
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Investments |
Investments are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is transferred to the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st July 2023 |
Disposals | ( |
) |
Revaluations |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Cost or valuation at 30th June 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 90,157 |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Investment properties were professionally revalued as at 31st October 2017 by Davidson and Robertson Rural on an open market basis which the directors consider to be the fair value of the assets. |
Fair value at 30th June 2024 is represented by: |
£ |
Valuation in 2024 | 2,235,000 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
Other creditors |
Accruals and deferred income |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 270,000 | 205,000 |
K E H BROWNLIE LIMITED (REGISTERED NUMBER: SC169220) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1st July 2023 |
Accelerated capital allowances | (425 | ) |
Listed Investments | 1,468 |
CT rate increase | 63,957 |
Balance at 30th June 2024 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st July 2023 |
and 30th June 2024 |
11. | RELATED PARTY DISCLOSURES |
Mr N R Milner was a director of KEH Brownlie Limited until his resignation on 29th May 2023. Mr N R Milner is also a director of Davidson & Robertson Ltd, which provides management services to the company. The fees invoiced by Davidson & Robertson Ltd during the year ended 30th June 2024 totalled £3,145 (2023, £7,314). |
12. | ULTIMATE CONTROLLING PARTY |
Following transfer of share ownership in March 2023, the directors regard The Borders Forest Trust, a charity registered in Scotland, as the company's ultimate parent party. The charity's registered office and principal place of business being Monteviot Nurseries, Ancrum, Jedburgh, TD8 6TU. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
K E H BROWNLIE LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K E H Brownlie Limited for the year ended 30th June 2024 which comprise the Statement of Income and Retained Earnings, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the Board of Directors of K E H Brownlie Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K E H Brownlie Limited and state those matters that we have agreed to state to the Board of Directors of K E H Brownlie Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that K E H Brownlie 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 loss of K E H Brownlie Limited. You consider that K E H Brownlie Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of K E H Brownlie 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. |
Chartered Accountants |
19 Buccleuch Street |
Hawick |
Roxburghshire |
TD9 0HL |