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Logo On Report
Registered Number: 07119684
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

BROOKFIELD CONTRACTING & FARMING LTD

Director Daniel Wright
Registered Number 07119684
Registered Office Cuckoo Hill Farm
Oakington Road
Cottenham
Cambridge
CB24 8TW
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road
Woolpit
Bury St Edmunds
IP30 9QS
1
Chartered Accountants' Report to the board of directors on the preparation of the unaudited statutory accounts of Brookfield Contracting & Farming Ltd 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 Brookfield Contracting & Farming Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Brookfield Contracting & Farming Ltd , as a body, in accordance with the terms of our engagement letter dated 19 December 2024. Our work has been undertaken solely to prepare for your approval the accounts of Brookfield Contracting & Farming Ltd and state those matters that we have agreed to state to the Board of Directors of Brookfield Contracting & Farming Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brookfield Contracting & Farming Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Brookfield Contracting & Farming Ltd 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 Brookfield Contracting & Farming Ltd . You consider that Brookfield Contracting & Farming Ltd 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 Brookfield Contracting & Farming Ltd . 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



....................................................
Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road
Woolpit
Bury St Edmunds
IP30 9QS
19 December 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 195,112    208,203 
195,112    208,203 
Current assets      
Stocks 4 30,000    31,500 
Debtors 5 121,328    113,005 
Cash at bank and in hand 48,155    9,542 
199,483    154,047 
Creditors: amount falling due within one year 6 (143,180)   (88,193)
Net current assets 56,303    65,854 
 
Total assets less current liabilities 251,415    274,057 
Creditors: amount falling due after more than one year 7 (30,717)   (60,971)
Provisions for liabilities 8 (31,515)   (34,002)
Net assets 189,183    179,084 
 

Capital and reserves
     
Called up share capital 2,000    2,000 
Profit and loss account 187,183    177,084 
Shareholders' funds 189,183    179,084 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 19 December 2024 and were signed by:


-------------------------------
Daniel Wright
Director
3
General Information
Brookfield Contracting & Farming Ltd is a private company, limited by shares, registered in England and Wales, registration number 07119684, registration address Cuckoo Hill Farm, Oakington Road, Cottenham, Cambridge , CB24 8TW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable and receivable under operating leases are charged or credited to  income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Improvements to property 0% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Improvements to property   Total
  £   £   £   £
At 01 April 2023 640,699    78,570    29,246    748,515 
Additions 31,440        31,440 
Disposals      
At 31 March 2024 672,139    78,570    29,246    779,955 
Depreciation
At 01 April 2023 510,778    29,534      540,312 
Charge for year 32,272    12,259      44,531 
On disposals      
At 31 March 2024 543,050    41,793      584,843 
Net book values
Closing balance as at 31 March 2024 129,089    36,777    29,246    195,112 
Opening balance as at 01 April 2023 129,921    49,036    29,246    208,203 

The net book value of Plant and Machinery includes £ 42,163 (2023 £52,703) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stocks 30,000    31,500 
30,000    31,500 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 115,504    96,681 
Other Debtors 5,824    16,324 
121,328    113,005 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 44,388    32,383 
Bank Loans & Overdrafts 29,513    15,500 
Corporation Tax 23,011   
PAYE & Social Security 3,573    4,242 
Accrued Expenses 2,000   
Other Creditors 1,413    3,685 
Obligations under HP/Financial Leases 12,462    11,345 
Directors' Current Accounts   574 
VAT 26,820    20,464 
143,180    88,193 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 18,667    26,667 
Obligations Under HP/Financial Leases 12,050    34,304 
30,717    60,971 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 31,515    34,002 
31,515    34,002 

4