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COMPANY REGISTRATION NUMBER: 10113275
4 BRENTWOOD LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
4 BRENTWOOD LTD
BALANCE SHEET
31 March 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Investments
4
389,696
920,047
CURRENT ASSETS
Debtors
5
144
144
CREDITORS: amounts falling due within one year
6
( 64,937)
( 75,782)
---------
---------
NET CURRENT LIABILITIES
( 64,793)
( 75,638)
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
324,903
844,409
CREDITORS: amounts falling due after more than one year
7
( 1,636,299)
( 1,707,163)
-------------
-------------
NET LIABILITIES
( 1,311,396)
( 862,754)
-------------
-------------
CAPITAL AND RESERVES
Called up share capital
8
100
100
Profit and loss account
( 1,311,496)
( 862,854)
-------------
----------
SHAREHOLDERS FUNDS
( 1,311,396)
( 862,754)
-------------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
„„„„„„„„„„
MR BENJAMIN D SCHIMMEL DIRECTOR
Company registration number: 10113275
4 BRENTWOOD LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 121 Princess Park Avenue, London, NW11 0JS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Directors are aware of the challenges they are likely to be facing in these uncertain times. COVID-19, natural disasters, geopolitical events such as the Ukraine-Russia conflict and inflation are just some of the major issues driving global economic uncertainty today. Notwithstanding the net deficiency in Net Current Assets at Balance Sheet date, the financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the directors consider this to be appropriate having regard to the continued provision of financial support by the Company's Parent undertaking.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. INVESTMENTS
Capital contribution and Loan notes
Capital Account
Total
£
£
£
Cost
At 1 April 2023
852,195
( 101,377)
750,818
Share of profits
( 361,122)
( 361,122)
----------
----------
----------
At 31 March 2024
852,195
( 462,499)
389,696
----------
----------
----------
Impairment
At 1 April 2023 and 31 March 2024
----------
----------
----------
Carrying amount
At 31 March 2024
852,195
( 462,499)
389,696
----------
----------
----------
At 31 March 2023
852,195
( 101,377)
750,818
----------
----------
----------
The Company has a 32.06% stake in Brentwood Apartments LLP, a Limited Liability Partnership (Company No. OC411463) registered in England and Wales, which is engaged in property development and trading. The investment comprises a capital contribution of £321 (2023: £321) and loans to Brentwood Apartments LLP aggregating £852,195 (2023: £1,021,424).
The results of Brentwood Apartments LLP for the year ended 31 March 2024 as per Financial Statements are as follows:-
2024
2023
£
£
Members' Interests: loans and other debts
(1,420,500)
(1,420,500)
Members' Interests: Others Interests
(609,957)
516,437
Profit and (loss) for the year
(1,126,394)
516,437
5. DEBTORS
2024
2023
£
£
Other debtors
144
144
----
----
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Other creditors
64,937
75,782
---------
---------
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertaking
815,502
970,246
Other creditors
820,797
736,917
-------------
-------------
1,636,299
1,707,163
-------------
-------------
Amounts owed to group undertaking relate to loan advances from 4 Charity Foundation, its Parent Undertaking. The loan bears interest at Barclays Base rate plus 5% per annum and is secured by a floating charge on the assets of the company. Please note that the development project is taking longer than expected to complete. However, it is nearing completion with regular repayments being made. Despite the delays caused by Covid-19, inflation,and geopolitical uncertainty, it is anticipated that the full loan will be repaid as scheduled .
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. RELATED PARTY TRANSACTIONS
(i) Profit and Loss Account include the following: An amount of £83,880 (2023: £86,779) representing interest payable on the loan advances from 4 Charity Foundation. (ii) Other creditors include an amount due to the following company into which this company has a minority interest:
2024 2023
£ £
Avsons Limited 59,657 71,502
--------- ---------
The loan is interest free and repayable on demand. (iii) Creditors more than one year includes an amount totalling £820,797 (2023 : £736,917) representing accrued interest due to 4 Charity Foundation.
10. PARENT COMPANY AND CONTROLLING PARTY
The Company is under the control of 4 Charity Foundation, an incorporated charity registered in England and Wales. The address of the registered office of 4 Charity Foundation is 121 Princes Park Avenue, London NW11 0JS.