Company registration number 09816265 (England and Wales)
BRMCO (215) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BRMCO (215) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BRMCO (215) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
3,062,522
2,718,911
Current assets
Debtors
4
44,539
10,613
Cash at bank and in hand
99,693
96,005
144,232
106,618
Creditors: amounts falling due within one year
5
(1,887,948)
(904,078)
Net current liabilities
(1,743,716)
(797,460)
Total assets less current liabilities
1,318,806
1,921,451
Creditors: amounts falling due after more than one year
6
-
0
(660,000)
Provisions for liabilities
(182,000)
(182,000)
Net assets
1,136,806
1,079,451
Capital and reserves
Called up share capital
7
1
1
Revaluation reserve
468,822
468,822
Profit and loss reserves
667,983
610,628
Total equity
1,136,806
1,079,451
BRMCO (215) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
Mr S D Priestnall
Director
Company registration number 09816265 (England and Wales)
BRMCO (215) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

BRMCO (215) Limited is a private company limited by shares incorporated in England and Wales. The registered office is One Waterside Place, Basin Square, Brimington Road, Chesterfield, Derbyshire, S41 7FH.

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 investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rentals receivable net of VAT.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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.

BRMCO (215) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.

1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged in the profit and loss account, except when it relates to items charged directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
BRMCO (215) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 July 2023
2,718,911
Additions
343,611
At 30 June 2024
3,062,522

 

The investment properties are held at open market value. The property at Suffolk Road was revalued by White & Co Chartered Surveyors on 28 June 2018. The directors believe the valuation is appropriate as at 30 June 2024.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
32,589
-
0
Other debtors
11,950
10,613
44,539
10,613
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
910,000
-
0
Trade creditors
4,225
18,395
Amounts owed to group undertakings
554,191
480,198
Corporation tax
18,700
31,398
Other taxation and social security
8,525
3,479
Other creditors
392,307
370,608
1,887,948
904,078

The bank loan, is secured by legal charges over 226-234 Handsworth Road, Sheffield and 48 Suffolk Road, Sheffield and their associated assets. There is a debenture over the company's whole assets and undertakings.

 

The bank loan has been refinanced in October 2024 with a repayment term of 3 years.

 

Included in other creditors are amounts of £312,540 (2023: £312,540) owed to directors.

 

 

BRMCO (215) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
660,000

The bank loan, is secured by legal charges over 226-234 Handsworth Road, Sheffield and 48 Suffolk Road, Sheffield and their associated assets. There is a debenture over the company's whole assets and undertakings.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 1p each
100
100
1
1
8
Related party transactions

BRMCO (215) Limited is 60% owned by Peppermint Grove Limited. During the year, Peppermint Grove Limited paid for costs on behalf of the company of £128,599 (2023: £15,313) and received £54,606 (2023: 4,025) from the company. At the year end there is an amount owing to Peppermint Grove Limited of £554,191 (2023: £480,198). No interest is payable on the loan.

 

 

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