Browns Garden Buildings Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Browns Garden Buildings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05986587 . The registered office is The Old Beehive Garage, Chorley New Road, Lostock, Bolton, BL6 4LW.

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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Although the company has made a loss during the year, based on forecasts prepared and support offered by other group companies, the directors believe there is sufficent cash to trade for the forthcoming year. In addition, on 18th April 2024 a Corporate Voluntary Arrangement was entered into which will increase cashflow in the short term.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover relates to the sale of garden buildings.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the building has been erected on the customers premises. Partially completed projects at the year end are recognised in work in progress at cost.

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% reducing balance
Computer Equipment	25% reducing balance

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 related costs as contract activity progresses.

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.

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Browns Garden Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 6)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	6,643	5,330	11,973
Additions	316	-	316

As at 31 December 2024	6,959	5,330	12,289

Depreciation
As at 1 January 2024	2,176	3,429	5,605
Provided during the period	1,122	358	1,480

As at 31 December 2024	3,298	3,787	7,085

Net Book Value
As at 31 December 2024	3,661	1,543	5,204

As at 1 January 2024	4,467	1,901	6,368

5. Stocks

	2024	2023
	£	£
Materials	7,320	10,086

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	7,031	240
Prepayments and accrued income	55,685	4,373
Corporation tax recoverable assets	951	116
Amounts owed by group undertakings	459,053	467,227

	522,720	471,956

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	29,665	44,344
Bank loans and overdrafts	-	39,132
Other taxes and social security	7,610	115,556
VAT	9,207	-
Net wages	3,471	-
Other creditors	46,071	10,619
Accruals and deferred income	51,035	16,850
Amounts owed to group undertakings	8,856	139,011

	155,915	365,512

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Browns Garden Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	-	97,303
Other creditors	441,821	-

	441,821	97,303

9. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Other Creditors	157,093		120,334

10. Deferred Taxation

Tax losses of £255,721 (2023: £122,479) are available to carry forward to the following period but have not been provided for as there is no guarantee of future profits.

	2024	2023
	£	£
Other timing differences	1,210	6,822

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	27,405	41,805
Later than one year and not later than five years	19,661	47,066

	47,066	88,871

13. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £944 (2023: £917) were due to the fund. They are included in Other Creditors.

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Browns Garden Buildings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

14. Related Party Transactions

A total amount of £458,953 (2023: £467,226) is owed to this entity by parties controlled by the same individuals as this entity. This is on no fixed repayment term an no interest is being charged.

A total amount of £8,856 (2023: £139,334) is owed by this entity to parties controlled by the same individuals as this entity. This is on no fixed repayment term an no interest is being charged.

Management fees of £37,139 (2023: £14,000) were paid to entities or individuals who control this entity or are under the same control as this entity. A balance of £6,461 (2023: £) was owed at the end of the year in relation to this.

Equipment hire of £300 (2023: £125), Rent £1,992 (2023: £830) and Interest of £8,433 (2023: £4,650) was charged by an entity which controls this entity during the year. No balance (2023: £5,603) was outstanding at the year end in relation to this.

A floating charge is held over the assets of this entity by an entity who owns this entity by way of a debenture. the amount owed under this debenture is £157,093 (2023: £120,334).

15. Ultimate Parent Undertaking and Controlling Party

The company's immediate parent undertaking is Winch & Co Capital Ltd . Winch & Co Capital Ltd was incorporated in England. Copies of the company accounts may be obtained from 46 Park Place, Leeds, England, LS1 2RY .

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,204		6,368

			5,204		6,368
CURRENT ASSETS
Stocks	5	7,320		10,086
Debtors	6	522,720		471,956
Cash at bank and in hand		20		423

		530,060		482,465
Creditors: Amounts Falling Due Within One Year	7	(155,915 )		(365,512 )

NET CURRENT ASSETS (LIABILITIES)			374,145		116,953

TOTAL ASSETS LESS CURRENT LIABILITIES			379,349		123,321

Creditors: Amounts Falling Due After More Than One Year	8		(441,821 )		(97,303 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(1,210 )		(6,822 )

NET (LIABILITIES)/ASSETS			(63,682 )		19,196

CAPITAL AND RESERVES
Called up share capital	11		100		100
Share premium account			9,900		9,900
Profit and Loss Account			(73,682 )		9,196

SHAREHOLDERS' FUNDS			(63,682)		19,196