Registered number: 00034195
BROOKWOOD PARK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED
31 MARCH 2024
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01483 755 399
hamlyns.com
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BROOKWOOD PARK LIMITED
REGISTERED NUMBER: 00034195
BALANCE SHEET
AS AT 31 MARCH 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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Net current assets/(liabilities)
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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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Page 1
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BROOKWOOD PARK LIMITED
REGISTERED NUMBER: 00034195
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
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 profit and loss account 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 24 March 2025.
___________________________
Christopher William Reid
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The notes on pages 3 to 12 form part of these financial statements.
Page 2
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
Brookwood Park Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00034195 and registered office address is located at The St Botolph Building, 138 Houndsditch London, EC3A 7AR.
During the year the company extended its accounting period to match that of its parent company, as such the prior year figures are not entirely comparable.
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 following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The Directors of Brookwood Park Limited believe that the company can continue as a going concern.
We have taken steps to ensure that the company can continue to operate within its means, including producing a five-year business plan and a cash projection forecast for the 2025/26 financial year. The company will continue to explore the potential to reduce its operating costs, manage capital investment and identify additional revenue sources.
Despite the position of our ultimate parent company, Woking Borough Council, we are confident that these measures will enable us to ensure that any expenditure incurred can be met from revenue generated.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and discounts.
Funerals, memorials commission and other income is usually recognised at the point at which the service or burial takes place.
Maintenance income, relating to the upkeep of individual burial plots, is recognised at the point at which the maintenance work is completed.
Reserved allotments income, relating to the reservation of specific burial plots and mausoleum chambers, is recognised at the point at which the reservation is made.
Page 3
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.
Interest income is recognised in profit or loss using the effective interest method.
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 balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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Current and deferred taxation
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The tax expense for the period 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 balance sheet 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 balance sheet 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 balance sheet date.
Page 4
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2.Accounting policies (continued)
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, using the straight-line, and reducing balance method.
Depreciation is provided on the following basis:
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Straight line over 50 years
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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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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Included within stock are mausoleum chambers and burial plots. Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Page 5
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 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.
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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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The average monthly number of employees, including directors, during the period was 10 (2022 - 18).
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Page 6
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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Charge for the period on owned assets
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Page 7
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
4.Tangible fixed assets (continued)
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Charge for the period on owned assets
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An adjustment has been entered in relation to grants which had been incorrectly applied in prior years.
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Cost or valuation at 31 March 2024 is as follows:
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2014 - Smiths Gore Valuation
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Page 8
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
4.Tangible fixed assets (continued)
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If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
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Investments in subsidiary companies
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Prepayments and accrued income
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Cash and cash equivalents
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Page 9
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
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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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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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Barclays Bank PLC has a floating charge covering all the property or undertakings of the company dated 19th May 2014.
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Page 10
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 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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Revaluation reserve
Directors revalued the freehold land in 2014 using a qualified surveyor, the uplift was recognised in the revaluation reserve. There have been no movements within the revaluation reserves in the year.
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 £23,830 (2022 - £18,179).
No Contributions were payable to the fund at the balance sheet date.
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Related party transactions
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At the balance sheet date £41,463 (2022: £17,669) was due to the ultimate parent entity relating to transactions from trade relationships. Any resulting debits or credits are included within short term debtors or creditors.
Total purchases in the year with the ultimate parent company totalled £189,456 (2022: £181,181).
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Page 11
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BROOKWOOD PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
The largest group in which the results of the company are consolidated is that headed by Woking Borough Council, the ultimate parent entity established in England and Wales.
The smallest group in which they are consolidated is that headed by Woking Necropolis and Mausoleum Limited incorporated in England and Wales. The financial statements are available from The St Botolph Building, 138, Houndsditch, London, EC3A 7AR.
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Provisions available for audits of small entities
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In common with many other businesses of our size and nature, we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
The auditors' report on the financial statements for the period ended 31 March 2024 was unqualified.
The audit report was signed on 24 March 2025 by Oliver Spevack (senior statutory auditor) on behalf of Hamlyns Limited.
Page 12
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