Brooksbank Properties Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Brooksbank Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09579370 . The registered office is 18 Broomfield Road, Marsh, Huddersfield, West Yorkshire, HD1 4QD.

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. 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.

Revenue Recognition

Turnover represents rents receivable during the year.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. 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:

Freehold	0%
Fixtures & Fittings	33% straight Line

2.4. Investment Properties

FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" requires properties held for investment to be included in the Balance Sheet at their fair value when it can be measured reliably without undue cost or effort. The director considers that to comply with this requirement annually would involve unjustifiable expense and therefore the investment properties are included at depreciated cost. The director believes that the residual value of the properties is at least equivalent to their cost and therefore the depreciation rate, subject to consideration of impairment, is zero.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the finacial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilites 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.

Basic financial liabilites

...CONTINUED

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Brooksbank Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.5. Financial Instruments - continued

Basic financial liabilities, including creditord, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Finacial liabilities classified as payable within one year are not amortised.

Debt instuments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been aquired in the ordinary course of business from suppliers. Amounts payable are classified as currect liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are are no longer at the discretion of the company.

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. Employee benefits

The costs of short term employee benefits are recognised as a libility and an expenses, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employees services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.8. Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amount of its tangible assets to determine whether there is indication that those assets have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an indiviual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell the value in use. In assessing the use, the estimated future cash flows are discounted to their present value using a pre tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation discount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverablr amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of the impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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Brooksbank Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.9. Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 June 2024	909,693	6,467	916,160
Disposals	(50,000 )	-	(50,000 )

As at 31 May 2025	859,693	6,467	866,160

Depreciation
As at 1 June 2024	-	6,467	6,467

As at 31 May 2025	-	6,467	6,467

Net Book Value
As at 31 May 2025	859,693	-	859,693

As at 1 June 2024	909,693	-	909,693

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1	-
Other creditors	247,500	552,742
Taxation and social security	9,277	14,849

	256,778	567,591

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

	2025	2024
	£	£
Bank loans	235,035	-

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	235,035		-

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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Brooksbank Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

8. Related Party Transactions

Included in other creditors are directors loan accounts of £243,600.94 (2024: £551,121) which are unsecured, repayable on demand and currently interest free.

The company is controlled by the directors.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		859,693		909,693

			859,693		909,693
CURRENT ASSETS
Cash at bank and in hand		17,579		8,771

		17,579		8,771
Creditors: Amounts Falling Due Within One Year	5	(256,778 )		(567,591 )

NET CURRENT ASSETS (LIABILITIES)			(239,199 )		(558,820 )

TOTAL ASSETS LESS CURRENT LIABILITIES			620,494		350,873

Creditors: Amounts Falling Due After More Than One Year	6		(235,035 )		-

NET ASSETS			385,459		350,873

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			385,359		350,773

SHAREHOLDERS' FUNDS			385,459		350,873