REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 July 2024 |
for |
Brackenborough Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 July 2024 |
for |
Brackenborough Limited |
Brackenborough Limited (Registered number: 04517523) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Brackenborough Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
8th Floor, Becket House |
36 Old Jewry |
London |
EC2R 8DD |
Brackenborough Limited (Registered number: 04517523) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
Brackenborough Limited (Registered number: 04517523) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Brackenborough Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover comprises revenue recognised by the company during the year, in respect of goods and services that are common to hotels and their related activities, exclusive of Value Added Tax and trade discounts. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off to residual value each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Land - not provided |
Buildings and lodges - 6.7% on cost |
Plant and machinery etc - at varying rates on cost |
Stocks |
Stocks are valued at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items.Stocks are valued on an average cost basis. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Brackenborough Limited (Registered number: 04517523) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
AMORTISATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Brackenborough Limited (Registered number: 04517523) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Included in the cost of land and buildings is freehold land of £60,000 (2023: £60,000) which is not depreciated and freehold buildings with a cost of £2,373,681 (2023: £2,373,681) and a net book value of £2,286,012 (2023: £2,286,012) which has been fully depreciated to residual value. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Brackenborough Limited (Registered number: 04517523) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Hire purchase contracts |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.24 | 31.7.23 |
£ | £ |
Hire purchase contracts | 54,045 | 49,082 |
Net obligations under hire purchase contracts are secured on the assets being acquired. |
Brackenborough Limited (Registered number: 04517523) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
As this is the first year the company has had the requirement for an audit after previously taking advantage of audit exemption under s477 of the Companies Act, we are unable to satisfy ourselves concerning the closing balances for the year ended 31 July 2023, which form the opening balances included in the financial statements as at 31 July 2024 Consequently, we are unable to determine whether any adjustments to these amounts are necessary. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
At the year end, the related party balances were: |
31.7.24 | 31.7.23 |
£ | £ |
Balance owed to related parties at the year end | 91,201 | 97,395 |
Sales to related parties | 18,798 | 14,807 |
Purchases from related parties | 8,099 | 19,722 |
The related party is a company of which the director is also a director of. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Oak Ridge Hotels Limited. |
The ultimate controlling party is |