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Blackdown Buildings Limited

Annual Report and Financial Statements
Year Ended 31 August 2024

Registration number: 08017394

 

Blackdown Buildings Limited

Contents

Statement of Directors' Responsibilities

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Blackdown Buildings Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Blackdown Buildings Limited

Balance Sheet

31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

3,853

Current assets

 

Debtors

5

140,227

262,632

Cash at bank and in hand

 

141,416

438,183

 

281,643

700,815

Creditors: Amounts falling due within one year

6

(56,523)

(113,600)

Net current assets

 

225,120

587,215

Total assets less current liabilities

 

225,120

591,068

Deferred income

6

(77,658)

(151,979)

Provisions for liabilities

-

(1,000)

Net assets

 

147,462

438,089

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

147,362

437,989

Total equity

 

147,462

438,089

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

.........................................
R D Brooke
Director

Company Registration Number: 08017394

 

Blackdown Buildings Limited

Notes to the Financial Statements

Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Fourways Cross
Hemyock
Cullompton
Devon
EX15 3PF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A, and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of timber buildings to customers. For most projects, revenue is recognised once a building has been completed on site. For larger projects, revenue is recognised in instalments with reference to stage of completion.

Deferred income

Deferred income represents deposits taken in advance for projects where the revenue has not been recognised at the year end.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blackdown Buildings Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other property, plant and equipment

20% straight-line

Motor vehicles

20% straight-line

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

Blackdown Buildings Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors,
• Short term intercompany debtors and creditors, and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Basic financial assets comprise short term trade and other debtors, intercompany debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors and intercompany creditors.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 9).

 

Blackdown Buildings Limited

Notes to the Financial Statements

Year Ended 31 August 2024

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

26,000

4,029

30,029

At 31 August 2024

26,000

4,029

30,029

Depreciation

At 1 September 2023

22,516

3,660

26,176

Charge for the year

3,484

369

3,853

At 31 August 2024

26,000

4,029

30,029

Carrying amount

At 31 August 2024

-

-

-

At 31 August 2023

3,484

369

3,853

5

Debtors

2024
£

2023
£

Trade debtors

21,446

28,527

Amounts due from group undertakings

2,420

114,836

Other debtors

112,810

116,538

Prepayments

3,551

2,731

140,227

262,632

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

2,633

28,967

Social security and other taxes

16,573

16,483

Accrued expenses

16,290

25,054

Payments on account

21,027

43,096

56,523

113,600

 

Blackdown Buildings Limited

Notes to the Financial Statements

Year Ended 31 August 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £2,300,000 (2023 - £2,300,000). The company has guaranteed bank loan finance taken out by its parent company, Brookridge Timber Limited.

9

Related party transactions

Summary of transactions with other related parties

Company over which a director has significant influence In 2021, the company advanced a loan of £72,293 to a company over which one of the directors has significant influence. In 2023, the company advanced another loan of £40,000 to the same company. The loan was made interest free and is repayable on demand. At the balance sheet date, the amount due to the company is £112,293 (2023 - £112,293).

10

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Robert Deare, who signed for and on behalf of PKF Francis Clark on 19 March 2025.

11

Parent undertaking

The company's immediate parent is Brookridge Timber Limited, incorporated in England & Wales.

 The ultimate controlling party is R D Brooke, by virtue of his majority shareholding in the ultimate parent company.