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REGISTERED NUMBER: 04062022 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Bremwell Limited

Bremwell Limited (Registered number: 04062022)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bremwell Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Tajinderpal S Obhrai
Deepinder Singh Obhrai





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 04062022 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

Bremwell Limited (Registered number: 04062022)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 5 2,923,253 2,941,004
Investment property 6 371,051 371,051
3,294,304 3,312,055

CURRENT ASSETS
Stocks 7 12,660 11,174
Debtors 8 903,072 889,618
Cash at bank and in hand 232,323 208,126
1,148,055 1,108,918
CREDITORS
Amounts falling due within one year 9 738,059 652,786
NET CURRENT ASSETS 409,996 456,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,704,300

3,768,187

CREDITORS
Amounts falling due after more than one
year

10

(1,084,797

)

(1,196,814

)

PROVISIONS FOR LIABILITIES (3,563 ) (5,767 )
NET ASSETS 2,615,940 2,565,606

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 1,157,496 1,157,496
Other reserves (23,039 ) (23,039 )
Retained earnings 1,481,481 1,431,147
2,615,940 2,565,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bremwell Limited (Registered number: 04062022)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Tajinderpal S Obhrai - Director


Bremwell Limited (Registered number: 04062022)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Bremwell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover
Revenue principally comprises income from the ownership and operation of the hotel which is recognised as turnover at the point at which accommodation and related services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Bremwell Limited (Registered number: 04062022)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments in subsidiaries, to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grant
Government grants are recognised based on the accrual model and are measured at the fair value receivable. Grants relating to revenue are recognised in income over the period in which related costs are recognised.

Going concern
The directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Financial instrument
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.

Bremwell Limited (Registered number: 04062022)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 31 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£ £ £ £
COST
At 1 September 2023 3,073,057 822,840 70,710 3,966,607
Additions - 3,916 847 4,763
At 31 August 2024 3,073,057 826,756 71,557 3,971,370
DEPRECIATION
At 1 September 2023 166,315 788,659 70,629 1,025,603
Charge for year 6,922 15,232 360 22,514
At 31 August 2024 173,237 803,891 70,989 1,048,117
NET BOOK VALUE
At 31 August 2024 2,899,820 22,865 568 2,923,253
At 31 August 2023 2,906,742 34,181 81 2,941,004

Tangible assets are held at valuation.

The hotel is carried forward at August 2015 valuation together with additions thereafter at cost. The directors have considered the carrying value of the hotel at 31 August 2024 and do not consider this to be significantly different from the value stated in the financial statement.

The historical cost of hotel is £1.96 million (2023: £1.96 million).

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2023
and 31 August 2024 371,051
NET BOOK VALUE
At 31 August 2024 371,051
At 31 August 2023 371,051

The directors have considered the fair value of the investment properties at 31 August 2024 and do not consider this to be significantly different from the value stated in the financial statement.

7. STOCKS
2024 2023
£ £
Stocks 12,660 11,174

Bremwell Limited (Registered number: 04062022)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,494 24,848
Amounts owed by group undertakings 777,513 725,791
Amounts owed by related undertakings 78,043 -
Other debtors 46,022 138,979
903,072 889,618

Debtors include amounts owed by group undertakings of £777,513 (2023: £725,790) due after more than one year on which interest is charged at the Base rate plus margin of 1.878% per annum.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 112,279 10,000
Trade creditors 51,095 60,045
Amounts owed to group undertakings 356,368 355,000
Amounts owed to related undertakings - 3,208
Taxation and social security 70,551 70,152
Other creditors 147,766 154,381
738,059 652,786

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 1,084,797 1,196,814

The bank loans are secured by first legal charges over the land and buildings of the company, and a fixed and floating debenture over the company's assets.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
Tajinderpal S Obhrai
Balance outstanding at start of year 53,934 53,934
Amounts repaid (53,934 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 53,934

Deepinder Singh Obhrai
Balance outstanding at start of year 24,109 24,109
Amounts repaid (24,109 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 24,109

Bremwell Limited (Registered number: 04062022)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. RELATED PARTY DISCLOSURES

As the company is a wholly owned subsidiary of Sycamore Limited, a company registered in Isle of Man, the company has taken advantage of the exemption contained in FRS 102.33 and has therefore not disclosed transactions on balances with entities which form part of the group headed by Sycamore Ltd.