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REGISTERED NUMBER: 04517523 (England and Wales)















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: A R Lidgard





REGISTERED OFFICE: c/o The Brackenborough Hotel
Cordeaux Corner
Louth
Lincolnshire
LN11 0SZ





REGISTERED NUMBER: 04517523 (England and Wales)





AUDITORS: Xeinadin Audit Limited
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 2,750 4,250
Tangible assets 5 5,552,178 5,141,430
5,554,928 5,145,680

CURRENT ASSETS
Stocks 25,888 320,967
Debtors 6 154,252 1,020,712
Cash at bank and in hand 90,061 225,353
270,201 1,567,032
CREDITORS
Amounts falling due within one year 7 4,574,927 5,108,523
NET CURRENT LIABILITIES (4,304,726 ) (3,541,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,250,202

1,604,189

CREDITORS
Amounts falling due after more than one
year

8

(107,447

)

(249,870

)

PROVISIONS FOR LIABILITIES (103,142 ) (44,415 )
NET ASSETS 1,039,613 1,309,904

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 1,039,607 1,309,898
SHAREHOLDERS' FUNDS 1,039,613 1,309,904

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 February 2025 and were signed by:





A R Lidgard - Director


Brackenborough Limited (Registered number: 04517523)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Brackenborough Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 49 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023
and 31 July 2024 5,000
AMORTISATION
At 1 August 2023 750
Charge for year 1,500
At 31 July 2024 2,250
NET BOOK VALUE
At 31 July 2024 2,750
At 31 July 2023 4,250

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 5,113,806 1,692,396 6,806,202
Additions 717,686 117,862 835,548
Disposals (118,731 ) (18,215 ) (136,946 )
At 31 July 2024 5,712,761 1,792,043 7,504,804
DEPRECIATION
At 1 August 2023 271,257 1,393,515 1,664,772
Charge for year 209,917 91,653 301,570
Eliminated on disposal (7,955 ) (5,761 ) (13,716 )
At 31 July 2024 473,219 1,479,407 1,952,626
NET BOOK VALUE
At 31 July 2024 5,239,542 312,636 5,552,178
At 31 July 2023 4,842,549 298,881 5,141,430

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 57,190
Additions 17,996
At 31 July 2024 75,186
DEPRECIATION
At 1 August 2023 11,327
Charge for year 16,173
At 31 July 2024 27,500
NET BOOK VALUE
At 31 July 2024 47,686
At 31 July 2023 45,863

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 114,553 140,404
Amounts owed by group undertakings - 819,651
Other debtors 39,699 60,657
154,252 1,020,712

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 15,812 11,438
Trade creditors 282,454 733,225
Amounts owed to group undertakings 3,998,605 3,929,836
Taxation and social security 147,622 43,736
Other creditors 130,434 390,288
4,574,927 5,108,523

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 38,233 37,644
Other creditors 69,214 212,226
107,447 249,870

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.

Mark Stothard FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

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 A R Lidgard.