Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 28,602 | 1,560,171 | |||
| Current assets | ||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| 848,469 | 154,582 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets/(liabilities) | 644,685 | (88,609) | ||
| Total assets less current liabilities | 673,287 | 1,471,562 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Net assets |
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| Called-up share capital |
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| Revaluation reserve |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Brent Knoll Manor Limited (registered number:
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R S Luxon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Brent Knoll Manor Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fox And Goose Inn, Bristol Road, Brent Knoll, TA9 4HH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
| Land and buildings |
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| Computer equipment |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2024 | 2023 | ||
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| Monthly average number of persons employed by the Company during the year, including the director |
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| Land and buildings | Plant and machinery | Fixtures and fittings | Computer equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 April 2023 |
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| At 31 March 2024 |
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| Charge for the financial year |
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| Adjustments on revaluations | (
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| At 31 March 2024 |
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| Net book value | |||||||||
| At 31 March 2024 |
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| At 31 March 2023 |
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Investment properties
Investment properties, which are all freehold, were revalued to fair value at 01 November 2023, based on a valuation undertaken by Charles D F Whitehead BSc (Hons) MRICS, an independent valuer with recent experience in the location and class of the investment property being valued.
| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| £ | £ | ||
| Amounts owed by Group undertakings |
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| Amounts owed by associates |
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| Prepayments |
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| Other debtors |
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| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Amounts owed to associates |
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| Accruals |
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| Taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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Other related party transactions
LPM Building Services Limited is a company under common control and ownership. At the year end the company was owed £26,748 (2023 £15,581) from LPM Building Services Limited.
LPM Holdings Limited is a company under common control and ownership. At the year end the company was owed £21,355 (2023 £21,487) from LPM Holdings Limited.
Parent Company:
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| Goodwood House Blackbrook Park Avenue Taunton Somerset United Kingdom TA1 2PX |