ACCOUNTS - Final Accounts preparation

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

Registered number: 00034195

BROOKWOOD PARK LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED

31 MARCH 2024

01483 755 399

hamlyns.com

BROOKWOOD PARK LIMITED

REGISTERED NUMBER: 00034195

BALANCE SHEET

AS AT 31 MARCH 2024

	31 March	31 December
	2024	2022
Note	£	£

Fixed assets
Tangible assets	4		6,823,556		3,796,169
Investments	5		1		1
			6,823,557		3,796,170
Current assets
Stocks		268,762		403,143
Debtors: amounts falling due within one year	6	42,125		124,658
Cash at bank and in hand	7	404,096		361,703
		714,983		889,504
Creditors: amounts falling due within one year	8	(196,393)		(1,954,510)
Net current assets/(liabilities)			518,590		(1,065,006)
Total assets less current liabilities			7,342,147		2,731,164
Creditors: amounts falling due after more than one year	9		(3,368,910)		(388,274)
Provisions for liabilities
Deferred tax	10	(658,610)		(69,601)
			(658,610)		(69,601)
Net assets			3,314,627		2,273,289

Capital and reserves
Called up share capital		60,120	60,120
Revaluation reserve	11	3,091,820	3,091,820
Profit and loss account	11	162,687	(878,651)
		3,314,627	2,273,289

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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

Director

The notes on pages 3 to 12 form part of these financial statements.

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

1.	General information

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

2.1

Basis of preparation of financial statements

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:

2.2

Exemption from preparing consolidated financial statements

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.

2.3

Going concern

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.

2.4

Revenue

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.

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

2.5

Government grants

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.

2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.7

Pensions

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.

2.8

Current and deferred taxation

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.

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

2.9

Tangible fixed assets

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:

Freehold land	-		Not depreciated
Plant and machinery	-	15%	Reducing balance
Motor vehicles	-	20%	Reducing balance
Fixtures and fittings	-	15%	Reducing balance
Office equipment	-	25%	Reducing balance
Infrastructure	-		Straight line over 50 years

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.

2.10

Revaluation of tangible fixed assets

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.

2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.12

Stocks

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.

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

2.13

Debtors

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.

2.14

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.

2.15

Creditors

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.

2.16

Provisions for liabilities

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.

Employees

The average monthly number of employees, including directors, during the period was 10 (2022 - 18).

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

4.	Tangible fixed assets

	Freehold land	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment
	£	£	£	£	£
Cost or valuation
At 1 January 2023	3,175,000	142,212	7,995	204,194	11,427
Disposals	-	(24,250)	-	-	-
Adjustments	-	352	-	229,181	1,504
At 31 March 2024	3,175,000	118,314	7,995	433,375	12,931
Depreciation
At 1 January 2023	-	87,434	4,611	178,355	8,643
Charge for the period on owned assets	-	8,988	634	26,828	1,019
Disposals	-	(17,227)	-	-	-
Adjustments	-	168	-	111,940	1,028
At 31 March 2024	-	79,363	5,245	317,123	10,690
Net book value
At 31 March 2024	3,175,000	38,951	2,750	116,252	2,241
At 31 December 2022	3,175,000	54,777	3,384	25,839	2,784

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

4.Tangible fixed assets (continued)

	Infrastructure	Total
	£	£
Cost or valuation
At 1 January 2023	564,884	4,105,712
Disposals	-	(24,250)
Adjustments	3,314,936	3,545,973
At 31 March 2024	3,879,820	7,627,435
Depreciation
At 1 January 2023	30,500	309,543
Charge for the period on owned assets	96,995	134,464
Disposals	-	(17,227)
Adjustments	263,963	377,099
At 31 March 2024	391,458	803,879
Net book value
At 31 March 2024	3,488,362	6,823,556
At 31 December 2022	534,385	3,796,169

An adjustment has been entered in relation to grants which had been incorrectly applied in prior years.

Cost or valuation at 31 March 2024 is as follows:

			Land and buildings
			£

		At cost	83,180
		At valuation:
		2014 - Smiths Gore Valuation	3,091,820

			3,175,000

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

4.Tangible fixed assets (continued)


Cost	83,180	83,180
Net book value	83,180	83,180

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2023	1
	At 31 March 2024	1

Debtors

					31 March	31 December
					2024	2022
					£	£


Trade debtors	33,027	103,961
Other debtors	920	19,901
Prepayments and accrued income	8,178	796
	42,125	124,658

Cash at bank and in hand	404,096	361,703
	404,096	361,703

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

Trade creditors	2,564	96,031
Amounts owed to group undertakings	41,624	1,804,601
Other taxation and social security	40,583	8,773
Other creditors	7,750	2,952
Accruals and deferred income	103,872	42,153
	196,393	1,954,510

Accruals and deferred income	3,368,910	388,274
	3,368,910	388,274

Barclays Bank PLC has a floating charge covering all the property or undertakings of the company dated 19th May 2014.

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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

10.	Deferred taxation

	2024	2022
	£	£

At beginning of year	(69,601)	(64,098)
Charged to profit or loss	(589,009)	(5,503)
At end of year	(658,610)	(69,601)

	Accelerated capital allowances	(658,610)	(69,601)
		(658,610)	(69,601)

11.

Reserves

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.

12.	Pension commitments

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.

13.	Related party transactions
	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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BROOKWOOD PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

14.	Controlling party

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.

15.	Provisions available for audits of small entities

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.

16.	Auditors' information

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.

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