Brookfield LR Parts Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 6745198

Brookfield LR Parts Limited

Filleted Unaudited Financial Statements

31 December 2024

Brookfield LR Parts Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	6		40,380		40,135

Current assets

Stocks		154,830	156,568
Debtors	7	439,840	407,332
Cash at bank and in hand		121,342	99,393
		---------	---------
		716,012	663,293

Creditors: amounts falling due within one year	8	143,743		120,181
		---------		---------
Net current assets			572,269		543,112
			---------		---------
Total assets less current liabilities			612,649		583,247

Provisions

Taxation including deferred tax	7,672	7,626
	---------	---------
Net assets	604,977	575,621
	---------	---------

Capital and reserves

Called up share capital	9	50,001	50,001
Profit and loss account		554,976	525,620
		---------	---------
Shareholders funds		604,977	575,621
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Brookfield LR Parts Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:

Peter Blanchard

Director

Company registration number: 6745198

Brookfield LR Parts Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Britannic House, 279 Chanterlands Avenue, Hull, East Yorkshire, HU5 4DS.

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 preparation

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less, or to receive more tax.

Tangible assets

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	7,962	2,182

Deferred tax:

Origination and reversal of timing differences	46	1,172
	-------	-------
Tax on profit	8,008	3,354
	-------	-------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	10,749	64,720	75,469
Additions	–	17,665	17,665
Disposals	–	( 12,515)	( 12,515)
	--------	--------	--------
At 31 December 2024	10,749	69,870	80,619
	--------	--------	--------
Depreciation
At 1 January 2024	8,946	26,388	35,334
Charge for the year	451	13,009	13,460
Disposals	–	( 8,555)	( 8,555)
	--------	--------	--------
At 31 December 2024	9,397	30,842	40,239
	--------	--------	--------
Carrying amount
At 31 December 2024	1,352	39,028	40,380
	--------	--------	--------
At 31 December 2023	1,803	38,332	40,135
	--------	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	149,725	117,217
Amounts owed by associated company	290,115	290,115
	---------	---------
	439,840	407,332
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	115,134	106,711
Accruals and deferred income	950	950
Corporation tax	10,143	2,181
Social security and other taxes	17,516	10,339
	---------	---------
	143,743	120,181
	---------	---------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	50,000	50,000	50,000	50,000
'C' Ordinary shares of £ 1 each	1	1	1	1
	--------	--------	--------	--------
	50,001	50,001	50,001	50,001
	--------	--------	--------	--------

10. Directors' advances, credits and guarantees

During the year, the company paid rent to the director and his wife (50% share each) to the value of £14,976 (2023 - £14,579) for the use of business premises.