Registered number: 07600004
BRUCE GILLINGHAM POLLARD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024
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BRUCE GILLINGHAM POLLARD LIMITED
COMPANY INFORMATION
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J Barratt (appointed 26 June 2023)
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D Freedman (appointed 26 June 2023)
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BRUCE GILLINGHAM POLLARD LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRUCE GILLINGHAM POLLARD LIMITED
FOR THE YEAR ENDED 30 APRIL 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bruce Gillingham Pollard Limited for the year ended 30 April 2024 which comprise the Statement of financial position, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of directors of Bruce Gillingham Pollard Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bruce Gillingham Pollard Limited and state those matters that we have agreed to state to the Board of directors of Bruce Gillingham Pollard Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bruce Gillingham Pollard Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Bruce Gillingham Pollard 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 profit of Bruce Gillingham Pollard Limited. You consider that Bruce Gillingham Pollard Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Bruce Gillingham Pollard 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.
Xeinadin London Limited
Accountants
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
3 February 2025
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BRUCE GILLINGHAM POLLARD LIMITED
REGISTERED NUMBER: 07600004
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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BRUCE GILLINGHAM POLLARD LIMITED
REGISTERED NUMBER: 07600004
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 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 3 February 2025.
The notes on pages 6 to 13 form part of these financial statements.
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BRUCE GILLINGHAM POLLARD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
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Capital redemption reserve
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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The notes on pages 6 to 13 form part of these financial statements.
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BRUCE GILLINGHAM POLLARD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023
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Capital redemption reserve
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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The notes on pages 6 to 13 form part of these financial statements.
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Bruce Gillingham Pollard Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given on the Company Information page of these financial statements.
The principal activity of the company continued to be that of real estate management.
2.Accounting policies
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Basis of preparation of financial statements
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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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
Turnover 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. Turnover represents amounts receivable for professional advice on leasing, investment and development supplied during the year, exclusive of Value Added Tax and trade discounts.
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, on the following basis:.
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Short-term leasehold property
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5 years Straight line method
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33.33% Straight line method
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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.
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.Accounting policies (continued)
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Provisions for liabilities
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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.
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Current and deferred taxation
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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 reporting 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 reporting 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 reporting date.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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The average monthly number of employees, including directors, during the year was 25 (2023 - 25).
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Leasehold property improvement
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Charge for the year on owned assets
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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The loan is secured by way of a debenture dated 25 June 2020. The bank has a fixed and floating charge over the assets of the company.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Short term timing differences
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Capital redemption reserve
Includes all current and prior year redemptions or repurchases of issued share capital.
Profit and loss account
Includes all current and prior year retained profit and losses.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,278 (2022 - £55,734). Contributions totalling £8,360 (2022 - £8,114) were payable to the fund at the balance sheet date and are included in creditors.
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BRUCE GILLINGHAM POLLARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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Related party transactions
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During the year the company had a loan account with the director, T Wilson. Advances totalled £9,815 (2023: £145,217) and credits totalled £9,660 (2023: £159,160). At the year end the Company was owed £9,720 (2023: £9,565) by T Wilson.
During the year the company had a loan account with the director, W Bruce. Advances totalled £109,011 (2023: £143,567) and credits totalled £57,318 (2023: £159,160). At the year end the Company was owed £67,436 (2023: £15,743) by W Bruce.
During the year the company had a loan account with the director, R Bentley-Smith. Advances totalled £75,590 (2023: £61,946) and credits totalled £21,126 (2023: £48,440). At the year end the Company was owed £57,498 (2023: £3,034) by R Bentley-Smith.
During the year the company had a loan account with C Roberts, a director. Advances totalled £9,192 (2023: £15,389) and credits totalled £6,230 (2023: £17,300). At the year end the C Roberts owed the Company £8,610 (2023: £5,648).
During the year the company had a loan account with J Barratt, a director. Advances totalled £15,056 (2023: £Nil) and credits totalled £Nil (2023: £Nil). At the year end the J Barratt owed the Company £15,056 (2023: £-).
The following dividends were paid during the year:
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The company had net transactions amounting to £36,407 (credit) with it's parent company, BGP Real Estate Limited. Bruce Gillingham Pollard received £1,515,296 on behalf of BGP Real Estate Limited. As at 30 April 2024, BGP Real Estate Limited was owed £1,408,053 by the company (2023: owed to the company by BGP Real Estate £143,650).
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BGP Real Estate Limited is regarded to be the ultimate parent company.
The directors are the ultimate controlling parties by virture of their shareholdings in BGP Real Estate Limited.
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