Brooklynn Leisure Limited Filleted accounts for Companies House (small and micro)

BROOKLYNN LEISURE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08655622

Brooklynn Leisure Limited

Filleted Unaudited Financial Statements

31 August 2018

Brooklynn Leisure Limited

Statement of Financial Position

31 August 2018

	2018		2017
Note	£	£	£

Current assets

Cash at bank and in hand	3,121		12,098

Creditors: amounts falling due within one year	6	59,548		59,574
		--------		--------
Net current liabilities			56,427	47,476
			--------	--------
Total assets less current liabilities			( 56,427)	( 47,476)
			--------	--------
Net liabilities			( 56,427)	( 47,476)
			--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 56,428)	( 47,477)
	--------	--------
Shareholder deficit	( 56,427)	( 47,476)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 May 2019 , and are signed on behalf of the board by:

Mr Philip Brooke
Director

Company registration number: 08655622

Brooklynn Leisure Limited

Notes to the Financial Statements

Year ended 31 August 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 177 Manchester Road, Mossley, Ashton-U-Lyne, OL5 9AB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 3 ).

5. Tax on loss

Reconciliation of tax income

The tax assessed on the loss on ordinary activities for the year is higher than (2017: higher than) the standard rate of corporation tax in the UK of 19 % (2017: 19.58 %).

	2018	2017
	£	£
Loss on ordinary activities before taxation	( 8,951)	( 259)
	-------	----
Loss on ordinary activities by rate of tax	( 1,701)	( 50)
Unused tax losses	1,701	50
	-------	----
Tax on loss	–	–
	-------	----

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Other creditors	59,548	59,574
	--------	--------

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr Philip Brooke	( 58,719)	120	–	( 58,599)
	--------	----	----	--------

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr Philip Brooke	( 55,462)	145	( 3,402)	( 58,719)
	--------	----	-------	--------

8. Related party transactions

The company was under the control of Mr Philip Brooke throughout the period. Mr Philip Brooke is the managing director and majority shareholder. There no transactions with related parties undertaken such as are required to be disclosed.

9. Going concern

The company is reliant on the on going financial support of the director. There are no reasons why this should not continue for the foreseeable future.