Company registration number 04864720 (England and Wales)
BROOKBROUGH HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BROOKBROUGH HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
BROOKBROUGH HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investment property
5
2,000,000
2,000,000
Investments
6
612,112
200,017
2,612,112
2,200,017
Current assets
Debtors
7
489,669
434,413
Cash at bank and in hand
1,555
721
491,224
435,134
Creditors: amounts falling due within one year
8
(222,797)
(149,371)
Net current assets
268,427
285,763
Total assets less current liabilities
2,880,539
2,485,780
Creditors: amounts falling due after more than one year
9
(1,032,986)
(1,113,940)
Net assets
1,847,553
1,371,840
Capital and reserves
Called up share capital
10
1,387,543
975,448
Profit and loss reserves
460,010
396,392
Total equity
1,847,553
1,371,840
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 2022 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.
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.
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 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2023 and are signed on its behalf by:
Mr P R Brooks
Director
Company Registration No. 04864720
BROOKBROUGH HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2021
975,448
358,537
1,333,985
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
37,855
37,855
Balance at 31 December 2021
975,448
396,392
1,371,840
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
63,618
63,618
Issue of share capital
10
412,095
-
412,095
Balance at 31 December 2022
1,387,543
460,010
1,847,553
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
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 amounts 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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
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 property
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 at the reporting end date. Changes in fair value are recognised in profit or loss.
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
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.
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:
2022
2021
Number
Number
Total
6
6
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2022 and 31 December 2022
50,000
Amortisation and impairment
At 1 January 2022 and 31 December 2022
50,000
Carrying amount
At 31 December 2022
At 31 December 2021
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
17,089
Depreciation and impairment
At 1 January 2022 and 31 December 2022
17,089
Carrying amount
At 31 December 2022
At 31 December 2021
5
Investment property
2022
£
Fair value
At 1 January 2022 and 31 December 2022
2,000,000
Investment property comprises a property rented to Brookbrough Trading Company Limited. Brookbrough Holdings Limited hold 100% (2021 - 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.
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
6
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
612,112
200,017
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.
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 January 2022
200,017
Additions
412,095
At 31 December 2022
612,112
Carrying amount
At 31 December 2022
612,112
At 31 December 2021
200,017
7
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
18,041
13,027
Other debtors
471,628
421,386
489,669
434,413
Debtors represent amounts outstanding at the year end from Brookbrough Trading Company Limited, a company wholly owned by Brookbrough Holdings Limited.
8
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
88,929
86,353
Trade creditors
10,160
5,990
Taxation and social security
3,902
6,822
Other creditors
119,806
50,206
222,797
149,371
BROOKBROUGH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
8
Creditors: amounts falling due within one year
(Continued)
- 8 -
The bank loans are secured on the assets of the company.
Included in other creditors are amounts due to the directors of £45,011 (2021: £45,011).
Also included in other creditors is an amount of £69,600 (2021 -£0) owed to Brookbrough Trading Company Limited, a company wholly owned by Brookbrough Holdings Limited.
9
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,032,986
1,113,940
Amounts included above which fall due after five years are as follows:
Payable by instalments
647,123
739,311
10
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Class A of £1 each
999,399
587,304
999,399
587,304
2022
2021
2022
2021
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
1,387,543
975,448
During the year 412,095 Ordinary Class A shares of £1 each were issued and fully paid.
11
Related party transactions
During the year the company charged rent of £140,020 (2021: £99,663) to Brookbrough Trading Company Limited.
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