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REGISTERED NUMBER: NI692520 (Northern Ireland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Brookhill Farm Ltd

Brookhill Farm Ltd (Registered number: NI692520)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 4


Brookhill Farm Ltd

Company Information
for the Year Ended 31 May 2024







Directors: Mr H Draffin
Mr A Draffin
Mrs B Draffin





Registered office: 88 Ballinderry Road
Lisburn
Co Antrim
BT28 2QX





Registered number: NI692520 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Brookhill Farm Ltd (Registered number: NI692520)

Statement of Financial Position
31 May 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 3,000 -
Property, plant and equipment 5 131,197 -
134,197 -

Current assets
Inventories 342,604 -
Debtors 6 63,900 -
Cash in hand 100 100
406,604 100
Creditors
Amounts falling due within one year 7 (453,557 ) -
Net current (liabilities)/assets (46,953 ) 100
Total assets less current liabilities 87,244 100

Creditors
Amounts falling due after more than one
year

8

(14,496

)

-

Provisions for liabilities 9 (30,324 ) -
Net assets 42,424 100

Capital and reserves
Called up share capital 10 100 100
Retained earnings 42,324 -
Shareholders' funds 42,424 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Brookhill Farm Ltd (Registered number: NI692520)

Statement of Financial Position - continued
31 May 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





Mr A Draffin - Director


Brookhill Farm Ltd (Registered number: NI692520)

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


1. Statutory information

Brookhill Farm Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Brookhill Farm Ltd (Registered number: NI692520)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. Accounting policies - continued

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.

Cash and cash equivalents
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.

Receivables
Short term receivables 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.

Payables
Short term payables 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.

Dividends
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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. Employees and directors

The average number of employees during the year was 3 (2023 - NIL ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
Additions 3,000
At 31 May 2024 3,000
Net book value
At 31 May 2024 3,000

Brookhill Farm Ltd (Registered number: NI692520)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. Property, plant and equipment
Plant and
machinery
£
Cost
Additions 168,680
At 31 May 2024 168,680
Depreciation
Charge for year 37,483
At 31 May 2024 37,483
Net book value
At 31 May 2024 131,197

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
Cost
Additions 25,000
At 31 May 2024 25,000
Depreciation
Charge for year 1,563
At 31 May 2024 1,563
Net book value
At 31 May 2024 23,437

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 43,557 -
VAT 10,187 -
Prepayments 10,156 -
63,900 -

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 109,904 -
Hire purchase contracts 4,530 -
Trade creditors 19,625 -
Tax 25,591 -
Directors' current accounts 289,237 -
Accrued expenses 4,670 -
453,557 -

Brookhill Farm Ltd (Registered number: NI692520)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 5,916 -
Bank loans - 2-5 years 6,688 -
Hire purchase contracts 1,892 -
14,496 -

9. Provisions for liabilities
2024 2023
£ £
Deferred tax 30,324 -

Deferred tax
£
Provided during year 30,324
Balance at 31 May 2024 30,324

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 Shares 1 100 100