Browood Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03531603 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

BROWOOD LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Rothbart

SECRETARY:

Mrs M Rothbart

REGISTERED OFFICE:

Unit 4 70-72 Markfield Road

London

N15 4QF

REGISTERED NUMBER:

03531603 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

4

331,186

162,840

CURRENT ASSETS

Debtors

5

20,313

108,708

Cash at bank

100,926

13

121,239

108,721

CREDITORS

Amounts falling due within one year

6

125,081

179,408

NET CURRENT LIABILITIES

(3,842

)

(70,687

)

TOTAL ASSETS LESS CURRENT LIABILITIES

327,344

92,153

CREDITORS

Amounts falling due after more than one year

7

307,545

99,180

NET ASSETS/(LIABILITIES)

19,799

(7,027

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

19,797

(7,029

)

SHAREHOLDERS' FUNDS

19,799

(7,027

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 March 2020 and were signed by:

D Rothbart - Director

1.	STATUTORY INFORMATION

Browood Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Investment property

Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:

a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair

value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they

arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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 year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

162,840

Additions

332,519

Disposals

(164,173

)

At 31 March 2019

331,186

NET BOOK VALUE

At 31 March 2019

331,186

At 31 March 2018

162,840

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

20,313

108,708

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

3,750

3,751

Taxation and social security

3,432

363

Other creditors

117,899

175,294

125,081

179,408

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

307,545

99,180

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

307,545

-

Repayable by instalments

Bank loans more 5 yr by instal

-

99,180

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary

£2

2

2

9.

RESERVES

Retained

earnings

£

At 1 April 2018

(7,029

)

Profit for the year

26,826

At 31 March 2019

19,797

10.	POST BALANCE SHEET EVENTS

There were no events since the year end which materially affected the company.

11.	ULTIMATE CONTROLLING PARTY

D Rothbart is the ultimate controller by virtue of owning 100% of the ordinary share capital in the company.