Company registration number 05654842 (England and Wales)
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
COMPANY INFORMATION
Directors
Mr B J Boys
Mr M A Boys
Mr P H Boys
Company number
05654842
Registered office
c/o Boys Holdings Plc
and business address
Todd Carr Road
Waterfoot
Rossendale
Lancashire
BB4 9SJ
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Bankers
Handelsbanken
Greenbank Court
Challenge Way
Greenbank Business Park
Blackburn
Lancashire
BB1 5QB
Solicitors
Farleys Solicitors LLP
Unit C1 - Hurstwood Court
Duttons Way
Shadsworth
Blackburn
Lancashire
BB1 2PT
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
5
802,183
780,101
Current assets
Debtors
6
5,275
9,270
Cash at bank and in hand
7,023
12,333
12,298
21,603
Creditors: amounts falling due within one year
7
(702,826)
(726,969)
Net current liabilities
(690,528)
(705,366)
Net assets
111,655
74,735
Capital and reserves
Called up share capital
8
100
100
Revaluation reserve
9
(1,155,410)
(1,065,309)
Profit and loss reserves
1,266,965
1,139,944
Total equity
111,655
74,735

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2025 and are signed on its behalf by:
Mr P H Boys
Director
Company registration number 05654842 (England and Wales)
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information

Brother Developments (Yorkshire) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Boys Holdings Plc, Todd Carr Road, Waterfoot, Rossendale, Lancashire, BB4 9SJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependent upon the ongoing financial support of two connected companiestrue, Boys Holdings Plc and Brother Investments Limited.

 

The directors of this company are also the directors of Boys Holdings Plc and Brother Investments Limited.

 

The directors have indicated that Boys Holdings Plc and Brother Investments Limited will continue to provide financial support to this company for the foreseeable future.

 

The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available.

 

On this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts, together with rent receivable.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 and 30 November 2024
10,858
Depreciation and impairment
At 1 December 2023 and 30 November 2024
10,858
Carrying amount
At 30 November 2024
-
0
At 30 November 2023
-
0
5
Investment property
2024
£
Fair value
At 1 December 2023
780,101
Additions
22,082
At 30 November 2024
802,183

The company's investment property at Walk Mills, Keighley was revalued at a market value of £690,000 at 15 February 2023 by a third party professional valuer. This valuation was incorporated into the balance sheet at 30 November 2023. Additions in the current and previous year have been recognised at their historic cost. The directors consider that this valuation and the costs of the additions made in the above two years represent a reasonable estimate of the market value of the property at the current balance sheet date.

 

The directors believe that the above represents a temporary diminution in value.

 

On an historical cost basis the property would have been included in the accounts at an original cost of £1,957,593 (2023: £1,935,511).

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
817
7,183
Other debtors
4,458
2,087
5,275
9,270
BROTHER DEVELOPMENTS (YORKSHIRE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,401
6,119
Corporation tax
12,307
6,570
Other taxation and social security
2,635
3,660
Other creditors
678,483
710,620
702,826
726,969
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
(1,065,309)
(1,155,410)
Other movements
(90,101)
90,101
At the end of the year
(1,155,410)
(1,065,309)
10
Financial commitments, guarantees and contingent liabilities

During the financial year the company has given an unlimited inter company cross guarantee, supported by a first legal charge over the company's investment property and a debenture over the company's assets, in respect of a bank overdraft facility of £1,500,000 provided by the company's bankers to B & E Boys Limited and bank loans provided to Brother Investments Limited, Brother Developments Limited and Kingfisher Business Centres Limited.

 

At 30 November 2024 the overdraft facility in B & E Boys Limited amounted to £1,281,987 and the bank loan balances were as follows:-

 

Brother Developments Limited - £953,600 (facility: £1,043,000); and

 

Kingfisher Business Centres Limited - £473,600 (facility: £518,000); and

 

Brother Investments Limited - £15,051,660 (facility: £16,245,985).

 

 

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