Company registration number 04864720 (England and Wales)
BROOKBROUGH HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
BROOKBROUGH HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BROOKBROUGH HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investment properties
5
2,000,000
2,000,000
Investments
6
200,017
200,017
2,200,017
2,200,017
Current assets
Debtors
7
434,413
361,176
Cash at bank and in hand
721
119,789
435,134
480,965
Creditors: amounts falling due within one year
8
(149,371)
(146,625)
Net current assets
285,763
334,340
Total assets less current liabilities
2,485,780
2,534,357
Creditors: amounts falling due after more than one year
9
(1,113,940)
(1,200,372)
Net assets
1,371,840
1,333,985
Capital and reserves
Called up share capital
10
975,448
975,448
Profit and loss reserves
396,392
358,537
Total equity
1,371,840
1,333,985
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BROOKBROUGH HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 September 2022 and are signed on its behalf by:
Mr P R Brooks
Director
Company Registration No. 04864720
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Brookbrough Holdings Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF. The business address is Stanney Mill Lane, Little Stanney, Chester CH2 4HY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties
.
The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable
from Brookbrough Trading Company Limited
for rental income net of VAT.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 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 financial 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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, 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 employee’s 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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
6
6
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2021 and 31 December 2021
50,000
Amortisation and impairment
At 1 January 2021 and 31 December 2021
50,000
Carrying amount
At 31 December 2021
At 31 December 2020
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 and 31 December 2021
17,089
Depreciation and impairment
At 1 January 2021 and 31 December 2021
17,089
Carrying amount
At 31 December 2021
At 31 December 2020
5
Investment property
2021
£
Fair value
At 1 January 2021 and 31 December 2021
2,000,000
Investment property comprises a property rented to Brookbrough Trading Company Limited. Brookbrough Holdings Limited hold 32.68% (2020 - 32.68%) of the issued share capital of Brookbrough Trading Company Limited. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors.
6
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
200,017
200,017
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
7
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
13,027
17,327
Other debtors
421,386
343,849
434,413
361,176
Debtors represent amounts outstanding at the year end from Brookbrough Trading Company Limited, a company in which the directors have an interest.
8
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
86,353
83,620
Trade creditors
5,990
5,990
Taxation and social security
6,822
7,084
Other creditors
50,206
49,931
149,371
146,625
The bank loans are secured on the assets of the company.
Included in other creditors are amounts due to the directors of £45,011 (2020: £45,011).
9
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
1,113,940
1,200,372
Amounts included above which fall due after five years are as follows:
Payable by instalments
739,311
837,642
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
10
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Class A of £1 each
587,304
587,304
587,304
587,304
2021
2020
2021
2020
Preference share capital
Number
Number
£
£
Issued and fully paid
Redeemable Preference Shares Class A of £1 each
221,144
221,144
221,144
221,144
Redeemable Preference Shares Class B of £1 each
167,000
167,000
167,000
167,000
388,144
388,144
388,144
388,144
Preference shares classified as equity
388,144
388,144
Total equity share capital
975,448
975,448
11
Events after the reporting date
On 11 April 2022 the company acquired
a further 67.32%
of the share capital of Brookbrough Trading Company Limited
. With effect from this date, the company owns 100% of the share capital of Brookbrough Trading Company Limited.
12
Related party transactions
The directors of Brookbrough Holdings Limited are also directors of Brookbrough Trading Company Limited.
During the year the company charged rent of £99,663 (2020: £103,964) to Brookbrough Trading Company Limited.