Brookdale Transport & Crane Services Ltd Company accounts

BROOKDALE TRANSPORT & CRANE SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 08570483

Brookdale Transport & Crane Services Ltd

Unaudited Financial Statements

For the year ended

30 November 2018

Brookdale Transport & Crane Services Ltd

Financial Statements

Year ended 30 November 2018

Contents	Page

Director's report	1

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	2

Profit and loss account	3

Balance sheet	4

Statement of changes in equity	6

Notes to the financial statements	7

Brookdale Transport & Crane Services Ltd

Director's Report

Year ended 30 November 2018

The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2018 .

Director

The director who served the company during the year was as follows:

Mr D E Hidle

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 28 November 2019 and signed on behalf of the board by:

Mr D E Hidle
Director

Registered office:

14 Astley Way

Swillington

Leeds

West Yorkshire

England

LS26 8XT

Brookdale Transport & Crane Services Ltd

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Brookdale Transport & Crane Services Ltd

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 Brookdale Transport & Crane Services Ltd for the year ended 30 November 2018, which comprise the profit and loss account, balance sheet, statement of changes in equity 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 director of Brookdale Transport & Crane Services Ltd in accordance with the terms of our engagement letter dated 21 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Brookdale Transport & Crane Services Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brookdale Transport & Crane Services Ltd and its director for our work or for this report.

It is your duty to ensure that Brookdale Transport & Crane Services Ltd 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 profit of Brookdale Transport & Crane Services Ltd. You consider that Brookdale Transport & Crane Services Ltd 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 Brookdale Transport & Crane Services Ltd. 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.

VOGAN ACCOUNTANCY LIMITED Chartered accountants

2 Chancery Lane Wakefield West Yorkshire WF1 2SS

28 November 2019

Brookdale Transport & Crane Services Ltd

Profit and Loss Account

Year ended 30 November 2018

	2018	2017
Note	£	£
Turnover	901,427	440,405

Cost of sales	685,771	272,914
	---------	---------
Gross profit	215,656	167,491

Administrative expenses	25,448	36,074
	---------	---------
Operating profit	190,208	131,417

Interest payable and similar expenses		7,706	11,453
		---------	---------
Profit before taxation	5	182,502	119,964

Tax on profit	57,573	22,999
	---------	---------
Profit for the financial year	124,929	96,965
	---------	---------

Revaluation of tangible assets	94,021	–
	---------	--------
Total comprehensive income for the year	218,950	96,965
	---------	--------

All the activities of the company are from continuing operations.

Brookdale Transport & Crane Services Ltd

Balance Sheet

30 November 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	6		730,566	87,067

Current assets

Debtors	7	219,546	160,500
Cash at bank and in hand		4,608	222
		---------	---------
		224,154	160,722

Creditors: amounts falling due within one year	8	485,701		134,181
		---------		---------
Net current (liabilities)/assets			( 261,547)	26,541
			---------	---------
Total assets less current liabilities			469,019	113,608

Creditors: amounts falling due after more than one year	9		78,888	–

Provisions	74,116	16,543
	---------	---------
Net assets	316,015	97,065
	---------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	94,021	–
Profit and loss account	221,894	96,965
	---------	--------
Shareholders funds	316,015	97,065
	---------	--------

These financial statements have been prepared 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'.

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.

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

Brookdale Transport & Crane Services Ltd

Balance Sheet (continued)

30 November 2018

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

Mr D E Hidle
Director

Company registration number: 08570483

Brookdale Transport & Crane Services Ltd

Statement of Changes in Equity

Year ended 30 November 2018

			Called up share capital	Revaluation reserve	Profit and loss account	Total
Note			£	£	£	£
At 1 December 2016			100	–	–	100

Profit for the year					96,965	96,965
			----	----	--------	--------
Total comprehensive income for the year			–	–	96,965	96,965

At 30 November 2017			100	–	96,965	97,065

Profit for the year					124,929	124,929
Other comprehensive income for the year:
	Revaluation of tangible assets	6	–	94,021	–	94,021
			----	--------	---------	---------
Total comprehensive income for the year			–	94,021	124,929	218,950

			----	--------	---------	---------
At 30 November 2018			100	94,021	221,894	316,015
			----	--------	---------	---------

Brookdale Transport & Crane Services Ltd

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 14 Astley Way, Swillington, Leeds, West Yorkshire, LS26 8XT, England.

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

These financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain tangible fixed assets. These financial statements have been prepared on the going concern basis, which the director considers to be appropriate because the company's ultimate holding company has indicated that it will continue to provide financial support .

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.

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:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2017: 5 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2018	2017
	£	£
Depreciation of tangible assets	14,429	2,057
	--------	-------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost or valuation
At 1 December 2017	–	89,124	–	89,124
Additions	56,667	521,544	398	578,609
Disposals	–	( 15,209)	–	( 15,209)
Revaluations	–	87,506	–	87,506
	--------	---------	----	---------
At 30 November 2018	56,667	682,965	398	740,030
	--------	---------	----	---------
Depreciation
At 1 December 2017	–	2,057	–	2,057
Charge for the year	3,073	11,223	133	14,429
Disposals	–	( 507)	–	( 507)
Revaluations	–	( 6,515)	–	( 6,515)
	--------	---------	----	---------
At 30 November 2018	3,073	6,258	133	9,464
	--------	---------	----	---------
Carrying amount
At 30 November 2018	53,594	676,707	265	730,566
	--------	---------	----	---------
At 30 November 2017	–	87,067	–	87,067
	--------	---------	----	---------

7. Debtors

	2018	2017
	£	£
Trade debtors	199,546	150,431
Amounts owed by group undertakings and undertakings in which the company has a participating interest	20,000	–
Other debtors	–	10,069
	---------	---------
	219,546	160,500
	---------	---------

The amounts owed by group undertakings and undertakings in which the company has a participating interest of £20,000 (2017: £nil) are unsecured and interest free. There are no terms for repaying the amounts outstanding.

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	17,718	160
Amounts owed to group undertakings and undertakings in which the company has a participating interest	165,316	82,017
Corporation tax	6,456	6,456
Social security and other taxes	135,534	45,548
Other creditors	160,677	–
	---------	---------
	485,701	134,181
	---------	---------

Included in "Other creditors" is an amount of £43,414 (2017: £nil) due under hire purchase agreements which is secured by a charge over the assets being acquired.

The amounts owed to group undertakings and undertakings in which the company has a participating interest of £165,316 (2017: £nil) are unsecured, interest free and payable on demand.

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

	2018	2017
	£	£
Other creditors	78,888	–
	--------	----

Included in "Other creditors" is an amount of £78,888 (2017: £nil) due under hire purchase agreements which is secured by a charge over the assets being acquired.