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Registration number: 11229952

Brooklands Homes South Coast Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Brooklands Homes South Coast Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Brooklands Homes South Coast Limited

Company Information

Directors

Mr Roger Kenneth Bird

Mrs Debra Anne Bird

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

Accountants

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

 

Brooklands Homes South Coast Limited

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Roger Kenneth Bird

Mrs Debra Anne Bird

Principal activity

The principal activity of the company is letting of own property

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 29 November 2024 and signed on its behalf by:

.........................................
Mr Roger Kenneth Bird
Director

   
     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Brooklands Homes South Coast Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brooklands Homes South Coast Limited for the year ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Brooklands Homes South Coast Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Brooklands Homes South Coast Limited and state those matters that we have agreed to state to the Board of Directors of Brooklands Homes South Coast Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brooklands Homes South Coast Limited and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Brooklands Homes South Coast Limited

It is your duty to ensure that Brooklands Homes South Coast Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Brooklands Homes South Coast Limited. You consider that Brooklands Homes South Coast 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 accounts of Brooklands Homes South Coast 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 accounts.

......................................

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

29 November 2024

 

Brooklands Homes South Coast Limited

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

57,232

15,014

Cost of sales

 

(78,541)

(37,542)

Gross loss

 

(21,309)

(22,528)

Administrative expenses

 

(67,019)

(20,464)

Other operating income

 

99,500

49,000

Operating profit

 

11,172

6,008

Interest payable and similar expenses

 

-

(4,975)

Profit before tax

4

11,172

1,033

Tax on profit

 

(2,249)

-

Profit for the financial year

 

8,923

1,033

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Brooklands Homes South Coast Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

8,923

1,033

Total comprehensive income for the year

8,923

1,033

 

Brooklands Homes South Coast Limited

(Registration number: 11229952)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

100,000

112,500

Tangible assets

6

879,858

844,858

 

979,858

957,358

Current assets

 

Debtors

7

70,000

-

Cash at bank and in hand

 

18,002

7,181

 

88,002

7,181

Creditors: Amounts falling due within one year

8

(935,097)

(840,700)

Net current liabilities

 

(847,095)

(833,519)

Total assets less current liabilities

 

132,763

123,839

Creditors: Amounts falling due after more than one year

8

(133,856)

(133,856)

Net liabilities

 

(1,093)

(10,017)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(1,193)

(10,117)

Shareholders' deficit

 

(1,093)

(10,017)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr Roger Kenneth Bird
Director

   
     
 

Brooklands Homes South Coast Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

(10,116)

(10,016)

Profit for the year

-

8,923

8,923

At 31 March 2024

100

(1,193)

(1,093)

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

100

(11,150)

(11,050)

Profit for the year

-

1,033

1,033

At 31 March 2023

100

(10,117)

(10,017)

 

Brooklands Homes South Coast Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

These financial statements were authorised for issue by the Board on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Brooklands Homes South Coast Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Brooklands Homes South Coast Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

12,500

12,500

 

Brooklands Homes South Coast Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

125,000

125,000

At 31 March 2024

125,000

125,000

Amortisation

At 1 April 2023

12,500

12,500

Amortisation charge

12,500

12,500

At 31 March 2024

25,000

25,000

Carrying amount

At 31 March 2024

100,000

100,000

At 31 March 2023

112,500

112,500

6

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

848,000

848,000

Revaluations

35,000

35,000

At 31 March 2024

883,000

883,000

Depreciation

At 1 April 2023

3,142

3,142

At 31 March 2024

3,142

3,142

Carrying amount

At 31 March 2024

879,858

879,858

At 31 March 2023

844,858

844,858

Included within the net book value of land and buildings above is £879,858 (2023 - £844,858) in respect of freehold land and buildings.
 

7

Debtors

 

Brooklands Homes South Coast Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Current

2024
£

2023
£

Other debtors

70,000

-

 

70,000

-

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

902,629

835,767

Taxation and social security

 

2,249

-

Accruals and deferred income

 

30,220

4,933

Other creditors

 

(1)

-

 

935,097

840,700

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

133,856

133,856

9

Share capital

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

133,856

133,856

Current loans and borrowings

2024
£

2023
£

Other borrowings

902,629

835,767