Brownfield Investments Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

Brownfield Investments Limited

Balance Sheet

28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	43,759	-
Investment property	5	5,105,000	4,955,020
		5,148,759	4,955,020
Current assets
Stocks	6	10,205	10,205
Debtors	7	128,996	107,284
Cash at bank and in hand		744,675	628,972
		883,876	746,461
Creditors: Amounts falling due within one year	8	(270,324)	(272,425)
Net current assets		613,552	474,036
Total assets less current liabilities		5,762,311	5,429,056
Creditors: Amounts falling due after more than one year	8	(281,401)	(294,219)
Provisions for liabilities		(499,284)	(422,437)
Net assets		4,981,626	4,712,400
Capital and reserves
Called up share capital	10	513,000	513,000
Capital redemption reserve		171,000	171,000
Profit and loss account		4,297,626	4,028,400
Shareholders' funds		4,981,626	4,712,400

Brownfield Investments Limited

Balance Sheet

28 February 2025

For the financial year ending 28 February 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 November 2025 and signed on its behalf by:
 

......................................... S F Giddings Director

Company Registration Number: 01169572

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Old Mine Offices
Wheal Jane
Baldhu
Truro
Cornwall
TR3 6EE

These financial statements were authorised for issue by the Board on 20 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue comprises the total amount in respect of sales of land sites, and other related revenue streams. Sales of property developments are recognised upon completion.

The company is a lessor in respect of the investment property which it owns. Rental income is recognised within other operating income in the financial statements, and is accounted for on an accruals basis.

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

Government grants

Grants received in respect of capital projects are recognised as deferred income on the balance sheet, and amortised over the expected useful life of the project to which they relate.

In the opinion of the directors this useful life is 40 years, with the annual release recognised in other operating income.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived by the Directors upon consideration of current market values, rental yields, and valuations undertaken for lending purposes.

The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Changes in fair value are recognised within other operating income within profit and loss.

Stocks

Stocks comprise of development work in progress, which includes development land.

Stock is stated at the lower of cost and net realisable value. At each reporting date stocks are assessed for impairment. If stocks are impaired the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit and loss.

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	20% Straight line
Furniture, fittings, and equipment	33% Straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following areas are where the Directors have applied judgement in the preparation of the financial statements:

Valuation of investment properties
As described within the accounting policies, the investment properties are held at the balance sheet date at their market value. The directors have applied his professional knowledge of the sector, coupled with discussions with other professionals in evaluating opportunities in order to derive market values.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 3).

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
Additions	915	46,850	47,765
At 28 February 2025	915	46,850	47,765
Depreciation
Charge for the year	102	3,904	4,006
At 28 February 2025	102	3,904	4,006
Carrying amount
At 28 February 2025	813	42,946	43,759
At 29 February 2024	-	-	-

5	Investment properties

	2025 £
At 1 March 2024	4,955,020
Fair value adjustments	149,980
At 28 February 2025	5,105,000

During the year the fair value of investment properties has been updated with reference to an external valuation undertaken by Miller Commercial, as well as a Director assessment of fair value for one site using their understanding of the market to which this pertains.

The movement in fair value has been recognised in other operating income.

6

Stocks

	2025 £	2024 £
Development work in progress	10,205	10,205

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

7

Debtors

	2025  £	2024  £
Trade debtors	84,483	87,109
Other debtors	-	505
Prepayments	44,513	19,670
	128,996	107,284

8

Creditors

Creditors: amounts falling due within one year

	Note	2025  £	2024  £
Due within one year
Loans and borrowings	9	3,778	86,932
Trade creditors		14,532	1,173
Amounts due to connected undertakings		13,395	322
Corporation tax		48,463	85,975
Social security and other taxes		36,628	13,092
Other creditors		153,528	84,931
		270,324	272,425

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	3,741
Deferred income		281,401	290,478
		281,401	294,219

Brownfield Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2025

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,778	86,932