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Registered number: 11500511
Brook Estates Consultancy Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Appleleaf Chartered Certified Accountants
ACCA
5 Town Hall Street
Grimsby
Lincolnshire
DN31 1HN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11500511
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,213 11,351
12,213 11,351
CURRENT ASSETS
Stocks 5 467,989 397,989
Debtors 6 27,064 144,328
Cash at bank and in hand - 13,628
495,053 555,945
Creditors: Amounts Falling Due Within One Year 7 (709,059 ) (791,044 )
NET CURRENT ASSETS (LIABILITIES) (214,006 ) (235,099 )
TOTAL ASSETS LESS CURRENT LIABILITIES (201,793 ) (223,748 )
NET LIABILITIES (201,793 ) (223,748 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (201,794 ) (223,749 )
SHAREHOLDERS' FUNDS (201,793) (223,748)
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Page 2
For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Craig Keyworth
Director
14 March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Brook Estates Consultancy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11500511 . The registered office is Westbrook Farm, Station Road, North Thoresby, Grimsby, DN36 5QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director recognises that there is significant concern over the ability of the company to continue as a going concern due to the net current liabilities of £214,006 and the insolvent balance sheet of £201,793.
The liability position is largely due to the company having a net intercompany loan account balance of £168,597 and a directors loan account balance due of £229,649. The director has agreed that the companies and director will not to seek repayment until there is available funds to do so.
As a result the financial statements have been prepared on a going concern basis.
2.3. Turnover
Turnover arises from the provision of construction services. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the sale of goods and the rendering of services in the normal course of business, net of discounts and other sales-related taxes.
Turnover from the provision of services is recognised when the service is performed.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% cost
Motor Vehicles 10% cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 8,200 11,645 19,845
Additions - 4,000 4,000
As at 31 March 2024 8,200 15,645 23,845
...CONTINUED
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Depreciation
As at 1 April 2023 4,510 3,984 8,494
Provided during the period 1,640 1,498 3,138
As at 31 March 2024 6,150 5,482 11,632
Net Book Value
As at 31 March 2024 2,050 10,163 12,213
As at 1 April 2023 3,690 7,661 11,351
5. Stocks
2024 2023
£ £
Work in progress 467,989 397,989
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 2,010
Other debtors 27,064 142,318
27,064 144,328
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,272 70,386
Bank loans and overdrafts 30,277 -
Other loans 228,440 252,938
Other creditors 430,295 463,991
Taxation and social security 1,775 3,729
709,059 791,044
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within other borrowings is a loan secured by fixed and floating charges over land held by the company as work in progress and an unsecured directors loan. 2024 £458,089 (2023 £482,587)
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10. Related Party Transactions
Other transactions with the Director
At the year end the company owed the director £229,649 (2023: £229,649). Loans made to the company by the director are unsecured, interest free and repayable on demand.
Balance owed to Brook Estates Consultancy Ltd at the year end from an associated company £27,064.
Balance owed from Brook Estates Consultancy Ltd at the year end to associated companies £195,661.
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