Company No:
Contents
| DIRECTOR | Joel Coren |
| REGISTERED OFFICE | Treviot House |
| 186-192 High Road | |
| Ilford | |
| IG1 1LR | |
| United Kingdom |
| COMPANY NUMBER | 13714566 (England and Wales) |
| ACCOUNTANT | Gravita Essex Limited |
| Treviot House | |
| 186-192 High Road | |
| Ilford | |
| Essex | |
| IG1 1LR | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 4 |
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| 6,948 | 12,765 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 11,246 | 6,073 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (197,665) | (64,938) | ||
| Total assets less current liabilities | (190,717) | (52,173) | ||
| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Other reserves |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of The Brookes Project Limited (registered number:
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Joel Coren
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.
The Brookes Project 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 Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.
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.
| Other intangible assets |
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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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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Equity-settled share-based payment schemes
Details of the share options outstanding during the financial year are as follows:
| 2024 | 2023 | ||||
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| Weighted Average | Weighted Average | ||||
| Number of share options | Average exercise price (£) | Number of share options | Average exercise price (£) | ||
| Outstanding at beginning of period |
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| Granted during the period |
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| Outstanding at the end of the period |
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| Exercisable at the end of the period |
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The Company recognised total expenses of £
| Other intangible assets | Total | ||
| £ | £ | ||
| Cost/Valuation | |||
| At 01 November 2023 |
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| Revaluations | (
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| At 31 October 2024 |
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| Accumulated amortisation | |||
| At 01 November 2023 |
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| Charge for the financial year |
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| Impairment losses |
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| At 31 October 2024 |
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| Net book value | |||
| At 31 October 2024 |
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| At 31 October 2023 |
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Revaluation of intangible assets
If these intangible assets had not been revalued they would have been included at the following amounts:
| 2024 | 2023 | ||
| £ | £ | ||
| Historical cost | 25,506 | 0 | |
| Accumulated amortisation | (5,361) | 0 | |
| Accumulated impairment loss | (7,500) | 0 | |
| Carrying value |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to related parties |
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| Other taxation and social security |
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| Other creditors |
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The operating loss is stated after charging :
| 2024 | 2023 | ||
| £ | £ | ||
| NFT amortisation | 750 | 750 | |
| Trademarks amortisation | 787 | 787 |