Brooklands Developments Limited Filleted accounts for Companies House (small and micro)

BROOKLANDS DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 5201675

Brooklands Developments Limited

Filleted Unaudited Financial Statements

30 November 2018

Brooklands Developments Limited

Financial Statements

Year ended 30 November 2018

Contents	Pages

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 6

Brooklands Developments Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Brooklands Developments Limited

Year ended 30 November 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brooklands Developments Limited for the year ended 30 November 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Brooklands Developments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Brooklands Developments Limited and state those matters that we have agreed to state them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brooklands Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Brooklands Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Brooklands Developments Limited. You consider that Brooklands Developments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Brooklands Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered Accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

23 August 2019

Brooklands Developments Limited

Statement of Financial Position

30 November 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	4	934	1,336

Current assets

Stocks		16,800	–
Debtors	5	70,803	80,052
Cash at bank and in hand		11,679	19,727
		--------	--------
		99,282	99,779

Creditors: amounts falling due within one year	6	30,345	30,373
		--------	--------
Net current assets		68,937	69,406
		--------	--------
Total assets less current liabilities		69,871	70,742

Creditors: amounts falling due after more than one year	7	21,500	21,500
		--------	--------
Net assets		48,371	49,242
		--------	--------

Brooklands Developments Limited

Statement of Financial Position (continued)

30 November 2018

	2018	2017
Note	£	£

Capital and reserves

Called up share capital	100	2
Profit and loss account	48,271	49,240
	--------	--------
Shareholders funds	48,371	49,242
	--------	--------

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 comprehensive income has not been delivered.

For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their 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 23 August 2019 , and are signed on behalf of the board by:

Mr M A Cunningham

Director

Company registration number: 5201675

Brooklands Developments Limited

Notes to the Financial Statements

Year ended 30 November 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 Abbeydale Hall, Abbeydale Road South, Sheffield, South Yorkshire, S17 3LJ.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehciles	-	25% straight line
Computer equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 December 2017 and 30 November 2018	7,466	482	7,948
	-------	----	-------
Depreciation
At 1 December 2017	6,130	482	6,612
Charge for the year	402	–	402
	-------	----	-------
At 30 November 2018	6,532	482	7,014
	-------	----	-------
Carrying amount
At 30 November 2018	934	–	934
	-------	----	-------
At 30 November 2017	1,336	–	1,336
	-------	----	-------

5. Debtors

	2018	2017
	£	£
Trade debtors	45,613	45,814
Other debtors	25,190	34,238
	--------	--------
	70,803	80,052
	--------	--------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	1,125	1,151
Corporation tax	–	2
Other creditors	29,220	29,220
	--------	--------
	30,345	30,373
	--------	--------

7. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Other creditors	21,500	21,500
	--------	--------