Company Registration No. 10840300 (England and Wales)
Brock House Investments Limited
Unaudited accounts
for the period from 1 July 2018 to 30 May 2019
Brock House Investments Limited
Unaudited accounts
Contents
Brock House Investments Limited
Company Information
for the period from 1 July 2018 to 30 May 2019
Company Number
10840300 (England and Wales)
Registered Office
22 Braydon Road
London
N16 6QB
England
Brock House Investments Limited
Statement of financial position
as at
30 May 2019
Investment property
3,092,450
2,800,000
Cash at bank and in hand
117,304
657
Creditors: amounts falling due within one year
(3,128,658)
(2,616,291)
Net current liabilities
(2,949,890)
(2,591,505)
Total assets less current liabilities
142,560
208,495
Provisions for liabilities
Net assets
142,560
172,495
Called up share capital
4
4
Profit and loss account
142,556
172,491
Shareholders' funds
142,560
172,495
For the period ending 30 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 May 2020.
Mr J Sofer
Director
Company Registration No. 10840300
Brock House Investments Limited
Notes to the Accounts
for the period from 1 July 2018 to 30 May 2019
Brock House Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10840300. The registered office is 22 Braydon Road, London, N16 6QB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, 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 Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Brock House Investments Limited
Notes to the Accounts
for the period from 1 July 2018 to 30 May 2019
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense.
Investment property include an amount of £518,434 in regards to interest and financing costs incurred in the course of the construction and development of the property.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Investment property
2019
Fair value at 1 July 2018
2,800,000
Net loss from fair value adjustments
(64,925)
The investment property at 31 May 2019 is stated at director's estimation of open market value. The historical cost of investment property included at valuation is £2,948,176.
Accrued income and prepayments
3,630
-
Other debtors
57,834
24,129
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Creditors: amounts falling due within one year
2019
2018
Trade creditors
17,902
79,983
Amounts owed to group undertakings and other participating interests
2,366,174
1,999,378
Other creditors
735,522
535,330
Included in other creditors are amounts aggregating £728,523 due to companies which have a director in common with the company's parent undertaking.
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Share capital
2019
2018
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
Brock House Investments Limited
Notes to the Accounts
for the period from 1 July 2018 to 30 May 2019
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Transactions with related parties
Other Debtors includes an amount aggregating £51,808 due from companies with directors in common with this company.
The company has taken advantage of the exemptions conferred by FRS 102 Section 1A and has not disclosed details of transactions with group member undertakings.
The company is controlled by its parent undertaking, The F W Trust Ltd, a company incorporated in England and Wales for charitable purposes.
The F W Trust Ltd has no controlling party.
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Average number of employees
During the period the average number of employees was 0 (2018: 0).