Brooklands Business Estates Limited 03016605 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of acquiring, developing and letting of property Digita Accounts Production Advanced 6.30.9574.0 true true 03016605 2023-05-01 2024-04-30 03016605 2024-04-30 03016605 core:RetainedEarningsAccumulatedLosses 2024-04-30 03016605 core:ShareCapital 2024-04-30 03016605 core:CurrentFinancialInstruments 2024-04-30 03016605 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03016605 core:FurnitureFittingsToolsEquipment 2024-04-30 03016605 bus:SmallEntities 2023-05-01 2024-04-30 03016605 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03016605 bus:FilletedAccounts 2023-05-01 2024-04-30 03016605 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03016605 bus:RegisteredOffice 2023-05-01 2024-04-30 03016605 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 03016605 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03016605 core:FurnitureFittings 2023-05-01 2024-04-30 03016605 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 03016605 countries:England 2023-05-01 2024-04-30 03016605 2023-04-30 03016605 core:FurnitureFittingsToolsEquipment 2023-04-30 03016605 2022-05-01 2023-04-30 03016605 2023-04-30 03016605 core:RetainedEarningsAccumulatedLosses 2023-04-30 03016605 core:ShareCapital 2023-04-30 03016605 core:CurrentFinancialInstruments 2023-04-30 03016605 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03016605 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 03016605

Brooklands Business Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Brooklands Business Estates Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Brooklands Business Estates Limited

(Registration number: 03016605)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

58,456

38,608

Investment property

5

20,031,049

17,741,578

 

20,089,505

17,780,186

Current assets

 

Debtors

6

273,355

673,645

Cash at bank and in hand

 

14,813

321,887

 

288,168

995,532

Creditors: Amounts falling due within one year

7

(1,581,446)

(884,043)

Net current (liabilities)/assets

 

(1,293,278)

111,489

Total assets less current liabilities

 

18,796,227

17,891,675

Provisions for liabilities

(2,180,515)

(2,031,589)

Net assets

 

16,615,712

15,860,086

Capital and reserves

 

Called up share capital

2

2

Retained earnings

16,615,710

15,860,084

Shareholders' funds

 

16,615,712

15,860,086

For the financial year ending 30 April 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 21 January 2025 and signed on its behalf by:
 

.........................................
DA Barbor
Company secretary and director

 

Brooklands Business Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Stable Court
Hesslewood Hall
Ferriby Road
Hessle
East Yorkshire
HU13 0LH

These financial statements were authorised for issue by the Board on 21 January 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are presented in sterling and are rounded to the nearest pound.

These financial statements cover the individual entity, Brooklands Business Estates Limited.

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.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred 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 Business Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures and fittings

25% on cost, 20% on cost and 10% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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.

 

Brooklands Business Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 3).

 

Brooklands Business Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

125,964

125,964

Additions

29,972

29,972

Disposals

(6,619)

(6,619)

At 30 April 2024

149,317

149,317

Depreciation

At 1 May 2023

87,356

87,356

Charge for the year

9,125

9,125

Eliminated on disposal

(5,620)

(5,620)

At 30 April 2024

90,861

90,861

Carrying amount

At 30 April 2024

58,456

58,456

At 30 April 2023

38,608

38,608

5

Investment properties

2024
£

At 1 May

17,741,578

Additions

1,754,210

Fair value adjustments

535,261

At 30 April

20,031,049

The fair value of the investment properties have been determined by the directors on an open market basis.

There has been no valuation of investment property by an independent valuer.

The fair value decrease of £535,261 (2023: £482,073) has been included as income in the profit and loss account.

The historical cost of this class of asset is £10,232,510 (2023: £8,478,757). The depreciation on this historical cost is £nil (2023: £nil).

 

Brooklands Business Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

2024
£

2023
£

Trade debtors

66,096

35,310

Prepayments

52,162

42,557

Other debtors

155,097

595,778

273,355

673,645

Current

2024
£

2023
£

Trade debtors

66,096

35,310

Prepayments

52,162

42,557

Other debtors

155,097

595,778

 

273,355

673,645

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

507,154

236,501

Trade creditors

 

281,693

214,126

Taxation and social security

 

188,766

147,548

Accruals and deferred income

 

291,059

272,368

Other creditors

 

312,774

13,500

 

1,581,446

884,043

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

507,154

236,501