Company registration number 08440836 (England and Wales)
NORTHBROOK ESTATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NORTHBROOK ESTATE LIMITED
COMPANY INFORMATION
Directors
Mr S A Bateman
Mr D F Robbins
Mr T Klein
(Appointed 21 August 2024)
Company number
08440836
Registered office
Harbour House
1 Town Quay
Southampton
SO14 2AQ
Accountants
Arnold Hill & Co LLP
Sixth Floor
Capital Tower
91 Waterloo Road
London
SE1 8RT
NORTHBROOK ESTATE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
NORTHBROOK ESTATE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORTHBROOK ESTATE LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northbrook Estate Limited for the year ended 31 December 2023 which comprise, the balance sheet and the related notes from the company’s 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Northbrook Estate Limited, as a body, in accordance with the terms of our engagement . Our work has been undertaken solely to prepare for your approval the financial statements of Northbrook Estate Limited and state those matters that we have agreed to state to the board of directors of Northbrook Estate Limited, 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 Northbrook Estate Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Northbrook Estate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Northbrook Estate Limited. You consider that Northbrook Estate 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 financial statements of Northbrook Estate 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 financial statements.
Arnold Hill & Co LLP
19 December 2024
Chartered Accountants
Sixth Floor
Capital Tower
91 Waterloo Road
London
SE1 8RT
NORTHBROOK ESTATE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
15,463
3,530,056
Current assets
-
-
Creditors: amounts falling due within one year
5
(23,929)
(3,453,105)
Net current liabilities
(23,929)
(3,453,105)
Net (liabilities)/assets
(8,466)
76,951
Capital and reserves
Called up share capital
1
1
Revaluation reserve
6
83,721
Profit and loss reserves
(8,467)
(6,771)
Total equity
(8,466)
76,951
The notes on pages 3 to 5 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 December 2024 and are signed on its behalf by:
Mr D F Robbins
Director
Company registration number 08440836 (England and Wales)
NORTHBROOK ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Northbrook Estate Limited is a private company limited by shares incorporated in England and Wales. The registered office is Harbour House, 1 Town Quay, Southampton, SO14 2AQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors believe the going concern basis remains applicable as the company has the continued support of related companies and the directors. The directors have confirmed that, if required, funds will be made available to meet liabilities as they fall due.
1.3
Fixed asset investments
The initial investment had been recognised in the accounts at cost. Subsequent losses from the investment have been allocated against capital.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
NORTHBROOK ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
The company had no employees during the year except for the directors.
4
Fixed asset investments
2023
2022
£
£
Investments
15,463
3,530,056
NORTHBROOK ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2023
3,530,056
Additions
2,244
Disposals
(3,516,837)
At 31 December 2023
15,463
Carrying amount
At 31 December 2023
15,463
At 31 December 2022
3,530,056
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
3,835
Other creditors
20,094
3,453,105
23,929
3,453,105
6
Revaluation reserve
2023
2022
£
£
At the beginning of the year
83,721
Revaluation surplus arising in the year
(83,721)
83,721
At the end of the year
83,721
7
Related party transactions
There are no formal agreements in place regarding the settlement of related party balances and they are treated as repayable on demand. The balances are not secured and no interest is charged on these balances within the financial statements but is included within the corporation tax calculation via transfer pricing adjustments.
8
Parent company
100% Shares are hold by Mr. N J Roach.