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Financial Statements |
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for the Period 31 March 2017 to 31 July 2018 |
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for |
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Bryn Coch Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Period 31 March 2017 to 31 July 2018 |
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for |
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Bryn Coch Limited |
Bryn Coch Limited (Registered number: 09632795) |
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Contents of the Financial Statements |
for the period 31 March 2017 to 31 July 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Bryn Coch Limited |
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Company Information |
for the period 31 March 2017 to 31 July 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY
AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Meryll House |
57 Worcester Road |
Bromsgrove |
Worcestershire |
B61 7DN |
Bryn Coch Limited (Registered number: 09632795) |
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Balance Sheet |
31 July 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Investment property |
revaluation reserve | 8 |
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Retained earnings | ( |
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( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Bryn Coch Limited (Registered number: 09632795) |
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Notes to the Financial Statements |
for the period 31 March 2017 to 31 July 2018 |
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1. | STATUTORY INFORMATION |
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Bryn Coch Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The accounting period of the company has been extended so that the period matches that of its parent |
company. The period is 16 months long, the comparative figures are for 15 months. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Bryn Coch Limited (Registered number: 09632795) |
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Notes to the Financial Statements - continued |
for the period 31 March 2017 to 31 July 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 period end and that are |
expected to apply to the reversal of the timing difference. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 31 July 2018 |
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DEPRECIATION |
Charge for period |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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Bryn Coch Limited (Registered number: 09632795) |
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Notes to the Financial Statements - continued |
for the period 31 March 2017 to 31 July 2018 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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Revaluations | 2,783,058 |
At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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Fair value at 31 July 2018 is represented by: |
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£ |
Valuation in 2018 | 3,302,521 |
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If the property had not been revalued it would have been included at the following historical cost: |
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2018 | 2017 |
£ | £ |
Cost | 250,861 | - |
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The property was valued on Existing Market Value basis on 31 July 2018 by the director. . |
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The director considers his valuation is appropriate having considered a professional valuation of |
£3,000,000 performed by a qualified RICS registered valuer on 19th April 2018 for the purposes of |
bank security. Since this date costs of £33,919 have been spent on the site. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Bryn Coch Limited (Registered number: 09632795) |
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Notes to the Financial Statements - continued |
for the period 31 March 2017 to 31 July 2018 |
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8. | RESERVES |
Investment |
property |
revaluation |
reserve |
£ |
Revaluation transfer | 2,254,578 |
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At 31 July 2018 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was qualified on the following basis: |
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Basis for qualified opinion |
We were not appointed as auditor of the company until after 18 December 2017 when the company |
was purchased and have had no access to records prior to this date. We were unable to satisfy |
ourselves by alternative means concerning the completeness and accuracy of the accounting records |
before that date. Consequently we were unable to determine whether any adjustment to the financial |
statements would be necessary. In addition, were any adjustment to the financial statements be |
required, the directors report may also need to be amended. |
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We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) |
and applicable law. Our responsibilities under those standards are further described in the Auditors' |
responsibilities for the audit of the financial statements section of our report. We are independent of |
the company in accordance with the ethical requirements that are relevant to our audit of the financial |
statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical |
responsibilities in accordance with these requirements. We believe that the audit evidence we have |
obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
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for and on behalf of
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10. | OTHER FINANCIAL COMMITMENTS |
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The company has entered into a fixed and floating charge dated 18/06/2018, over all assets of the |
company in favour of Cambridge & Counties Bank Limited in respect of the amounts owed by |
Maybrook Investments Limited. |
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At the balance sheet date the amount owed by Maybrook Investments Limited to Cambridge & |
Counties Bank Limited was £4,500,000 |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Maybrook Investments Limited. |
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Registered office Meryll House, 57 Worcester Road, Bromsgrove, Worcestershire, B61 7DN. |
Bryn Coch Limited (Registered number: 09632795) |
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Notes to the Financial Statements - continued |
for the period 31 March 2017 to 31 July 2018 |
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12. | GOING CONCERN |
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The directors have considered the period ending 12 months after approving these financial statements. |
The parent company is prepared to fully support the company financially. Therefore the director has |
continued to adopt the going concern basis of accounting in preparing these financial statements. |