Company Registration No. 12514468 (England and Wales)
The Book Brothers Limited
Unaudited accounts
for the year ended 31 March 2024
The Book Brothers Limited
Statement of financial position
as at 31 March 2024
Tangible assets
3,635,361
143,993
Investment property
-
3,501,037
Cash at bank and in hand
201,096
364,345
Creditors: amounts falling due within one year
(178,892)
(174,102)
Net current assets
149,510
195,239
Total assets less current liabilities
3,784,871
3,840,269
Creditors: amounts falling due after more than one year
(2,536,000)
(2,858,000)
Provisions for liabilities
Deferred tax
(50,463)
(27,359)
Net assets
1,198,408
954,910
Called up share capital
100
100
Profit and loss account
1,198,308
954,810
Shareholders' funds
1,198,408
954,910
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by
Mohamed Yahya THADHA
Director
Company Registration No. 12514468
The Book Brothers Limited
Notes to the Accounts
for the year ended 31 March 2024
The Book Brothers Limited is a private company, limited by shares, registered in England and Wales, registration number 12514468. The registered office is 85 Highway Road, Leicester, LE5 5RF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2.5% straight line
Plant & machinery
10% straight line
Computer equipment
25% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The Book Brothers Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
-
179,607
179,607
Transfer from investment property
3,501,037
-
3,501,037
At 31 March 2024
3,501,037
264,122
3,765,159
At 1 April 2023
-
35,614
35,614
Charge for the year
67,527
26,657
94,184
At 31 March 2024
67,527
62,271
129,798
At 31 March 2024
3,433,510
201,851
3,635,361
At 31 March 2023
-
143,993
143,993
Fair value at 1 April 2023
3,501,037
Transfers to tangible fixed assets
(3,501,037)
The investment property fair value included in the profit for the year was determined by the directors by reference to current market prices for comparable property, adjusted for any differences in nature, location and condition.
Amounts falling due within one year
Accrued income and prepayments
121,170
1,810
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
117,080
135,353
Other creditors
1,613
35,885
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
2,536,000
2,858,000
The Book Brothers Limited
Notes to the Accounts
for the year ended 31 March 2024
9
Transactions with related parties
Other creditors include unsecured, interest free loans advanced:
£634,000 by Books 2 Door Ltd, a company in which Mr Abdul Kadir THADHA is materially interested as a director.
£634,000 by PCS Books Ltd a company in which Mr Suleman Aziz THADHA is materially interested as a director.
£634,000 by Plodit Ltd a company in which Mr Mohamed Yahya THADHA is materially interested as a director.
£634,000 by Price Cut Books Ltd a company in which Mr Abdul Rashid THADHA is materially interested as a director.
The company provided services as follows:
£204,000 to Books 2 Door Ltd, a company in which Mr Abdul Kadir THADHA is materially interested as a director.
£204,000 to PCS Books Ltd a company in which Mr Suleman Aziz THADHA is materially interested as a director.
£204,000 to Plodit Ltd a company in which Mr Mohamed Yahya THADHA is materially interested as a director.
£204,000 to Price Cut Books Ltd a company in which Mr Abdul Rashid THADHA is materially interested as a director.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).