Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Property investmenttrue2023-04-01false33truefalse 00415648 2023-04-01 2024-03-31 00415648 2022-04-01 2023-03-31 00415648 2024-03-31 00415648 2023-03-31 00415648 2022-04-01 00415648 c:Director1 2023-04-01 2024-03-31 00415648 d:FurnitureFittings 2023-04-01 2024-03-31 00415648 d:FurnitureFittings 2024-03-31 00415648 d:FurnitureFittings 2023-03-31 00415648 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00415648 d:FreeholdInvestmentProperty 2024-03-31 00415648 d:FreeholdInvestmentProperty 2023-03-31 00415648 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 00415648 d:CurrentFinancialInstruments 2024-03-31 00415648 d:CurrentFinancialInstruments 2023-03-31 00415648 d:Non-currentFinancialInstruments 2024-03-31 00415648 d:Non-currentFinancialInstruments 2023-03-31 00415648 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00415648 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00415648 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00415648 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00415648 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00415648 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00415648 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 00415648 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 00415648 d:ShareCapital 2024-03-31 00415648 d:ShareCapital 2023-03-31 00415648 d:ShareCapital 2022-04-01 00415648 d:OtherMiscellaneousReserve 2023-04-01 2024-03-31 00415648 d:OtherMiscellaneousReserve 2024-03-31 00415648 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 00415648 d:OtherMiscellaneousReserve 2023-03-31 00415648 d:OtherMiscellaneousReserve 2022-04-01 00415648 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00415648 d:RetainedEarningsAccumulatedLosses 2024-03-31 00415648 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 00415648 d:RetainedEarningsAccumulatedLosses 2023-03-31 00415648 d:RetainedEarningsAccumulatedLosses 2022-04-01 00415648 c:FRS102 2023-04-01 2024-03-31 00415648 c:Audited 2023-04-01 2024-03-31 00415648 c:FullAccounts 2023-04-01 2024-03-31 00415648 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00415648 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00415648 6 2023-04-01 2024-03-31 00415648 d:OtherDeferredTax 2024-03-31 00415648 d:OtherDeferredTax 2023-03-31 00415648 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00415648










BROOK STREET INVESTMENTS LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BROOK STREET INVESTMENTS LIMITED
 

CONTENTS



Page
Balance Sheet
1
Statement of Changes in Equity
2
Notes to the Financial Statements
3 - 9


 
BROOK STREET INVESTMENTS LIMITED
REGISTERED NUMBER: 00415648

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,115
2,228

Investments
 5 
367,077
367,077

Investment property
 6 
6,200,000
5,590,000

  
6,568,192
5,959,305

Current assets
  

Debtors: amounts falling due within one year
 7 
198,944
437,609

Cash at bank and in hand
  
249,238
33,410

  
448,182
471,019

Creditors: amounts falling due within one year
 8 
(378,093)
(376,198)

Net current assets
  
 
 
70,089
 
 
94,821

Total assets less current liabilities
  
6,638,281
6,054,126

Creditors: amounts falling due after more than one year
 9 
(1,756,878)
(1,831,295)

Provisions for liabilities
  

Deferred tax
 10 
(121,168)
-

  
 
 
(121,168)
 
 
-

Net assets
  
4,760,235
4,222,831


Capital and reserves
  

Called up share capital 
  
3
3

Other reserves
  
2,454,452
1,965,620

Profit and loss account
  
2,305,780
2,257,208

  
4,760,235
4,222,831


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 January 2025.


Mrs M.A.G. Fenston
Director

Page 1

 
BROOK STREET INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
3
2,304,452
2,165,250
4,469,705



Loss for the year
-
-
(246,874)
(246,874)

Transfer to/from profit and loss account
-
(338,832)
338,832
-



At 1 April 2023
3
1,965,620
2,257,208
4,222,831



Profit for the year
-
-
537,404
537,404

Transfer to/from profit and loss account
-
488,832
(488,832)
-


At 31 March 2024
3
2,454,452
2,305,780
4,760,235


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales.  The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.  The principal trading address is 82 Kensington High Street, London, W8 4SJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises rent and service charges receivable exclusive of value added tax.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detail below.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by a director of the company and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.
Page 4

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Investment property (continued)


 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
39,340



At 31 March 2024

39,340



Depreciation


At 1 April 2023
37,112


Charge for the year on owned assets
1,113



At 31 March 2024

38,225



Net book value



At 31 March 2024
1,115



At 31 March 2023
2,228


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
367,077



At 31 March 2024

367,077






Net book value



At 31 March 2024
367,077



At 31 March 2023
367,077

Page 6

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
5,590,000


Surplus on revaluation
610,000



At 31 March 2024
6,200,000

The company's investment properties were valued at £6,200,000 on 31 March 2024 by Mrs M.A.G. Fenston, a director, on the advice of Levy Real Estate LLP, on an open market value existing use basis. The cost of the land and buildings was £3,624,380 (2023: £3,624,380). No depreciation has been provided.





7.


Debtors

2024
2023
£
£


Trade debtors
28,477
136,594

Amounts owed by group undertakings
57,065
202,065

Other debtors
104,208
93,751

Prepayments and accrued income
9,194
5,199

198,944
437,609



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
77,245
74,266

Trade creditors
-
18,235

Corporation tax
36,163
20,938

Other taxation and social security
32,863
24,778

Other creditors
97,586
100,584

Accruals and deferred income
134,236
137,397

378,093
376,198


Page 7

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,756,878
1,831,295

1,756,878
1,831,295



Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
77,245
74,266


Amounts falling due 2-5 years

Bank loans
1,756,878
297,062

Amounts falling due after more than 5 years

Bank loans
-
1,534,233

1,834,123
1,905,561


The bank loan of £1,834,123 (2023: £1,905,561) is secured by a first legal mortgage over the company's investment property.


10.


Deferred taxation




2024


£






Charged to profit or loss
(121,168)



At end of year
(121,168)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Unrealised gains on property revaluation
(121,168)
-

(121,168)
-

Page 8

 
BROOK STREET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Related party transactions

Included in other creditors is a loan from a company under common control of £77,208 (2023: £77,695). The loan is interest free and repayable on demand.
Included in debtors is a loan due from a subsidiary company of £57,065 (2023: £202,065). The loan is interest free and repayable on demand. 
The company occupies premises owned by a shareholder of the company. No rent was charged to the company during the year.
A director has undertaken to guarantee up to £2,400,000 (2023: £2,400,000) in respect of the Company's bank loan.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 23 January 2025 by David Pumfrey FCA (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 
Page 9