Broomhall Investments Limited - Period Ending 2014-12-31

Registration number: 07092805

Broomhall Investments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Broomhall Investments Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Broomhall Investments Limited
(Registration number: 07092805)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					1,600,000			1,473,000
Current assets
Debtors					17,705			18,008
Cash at bank and in hand					38,312			22,839
					56,017			40,847
Creditors: Amounts falling due within one year					(103,686)			(1,370,687)
Net current liabilities					(47,669)			(1,329,840)
Total assets less current liabilities					1,552,331			143,160
Creditors: Amounts falling due after more than one year					(1,230,000)			-
Net assets					322,331			143,160
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					214,798			87,798
Profit and loss account					107,433			55,262
Shareholders' funds					322,331			143,160

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 April 2015 and signed on its behalf by:

J M Brownhill
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Broomhall Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis on the understanding that the company will continue to receive the support of its shareholders, for the foreseeable future.

Turnover

Turnover represents total rents receivable during the year

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		1,473,000			1,473,000
Revaluations		127,000			127,000
At 31 December 2014		1,600,000			1,600,000
Depreciation
At 31 December 2014		-			-
Net book value
At 31 December 2014		1,600,000			1,600,000
At 31 December 2013		1,473,000			1,473,000

Page 2

Broomhall Investments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		40,000			-
Amounts falling due after more than one year		680,000			-
Total secured creditors		720,000			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3