| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| BROWMAC LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| BROWMAC LIMITED |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| BROWMAC LIMITED |
| Company Information |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 5th Floor |
| Palladium House |
| 1-4 Argyll Street |
| London |
| W1F 7TA |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Statement of Financial Position - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Browmac Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue is recognised at the fair value of the consideration received or receivable for the provision of services to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates. |
| Revenue represents rents receivable. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: |
| Fixtures, fittings and equipment 10% straight line |
| Investment property |
| The companies investment properties are included on the balance sheet at market value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Financial instruments |
| The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments. |
| Basic financial assets |
| Other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses. |
| At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
| If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Basic financial liabilities |
| Financial liabilities are classified as liabilities and equity instruments 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. |
| Trade creditors, other creditors and loans from directors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled. |
| Bank loans are presented within creditors: amounts falling due within one year. |
| Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
| Equity instruments |
| The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. |
| Cash and cash equivalents |
| Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2012 | 1,250,000 |
| Valuation in 2017 | 1,802,635 |
| Valuation in 2023 | 187,365 |
| 3,240,000 |
| On 2nd September 2022 the companies investment property was revalued to £3,240,000 by Lambeth Smith Hampton on an open market value basis. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| BROWMAC LIMITED (REGISTERED NUMBER: 03164889) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Amounts owed to related undert aking | 32,000 | 32,000 |
| Bank loans and overdrafts | 1,360,720 | 1,388,981 |
| Directors' current accounts | 165,011 | 176,387 |
| Accruals and deferred income |
| The bank loans are secured by a first legal charge over the freehold property known as 308-310 Battersea Park Road, Battersea, London, SW11 3BU. |
| The directors loans are unsecured, interest free and repayable on demand. |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2024 |
| and 31 March 2025 |
| Fair value reserve comprises of the revaluation of investment property net of deferred tax. |
| 10. | RELATED PARTY DISCLOSURES |
| At 31 March 2025 the company owed £32,000 to Surreyvale LLP, an entity under the control of Neil Brown, Ian Macguffog & Christopher Horsnell, in respect of a loan. The loan is unsecured and interest free, and there is no fixed date for repayment. |