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Company registration number: 1960720
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UNAUDITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 DECEMBER 2019
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BROTHERTON DEVELOPMENTS LIMITED
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BROTHERTON DEVELOPMENTS LIMITED
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COMPANY INFORMATION
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BROTHERTON DEVELOPMENTS LIMITED
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CONTENTS
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Statement of income and retained earnings
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Statement of financial position
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Notes to the financial statements
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BROTHERTON DEVELOPMENTS LIMITED
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2019
The directors present their report and the financial statements for the year ended 31 December 2019.
The principal activity of the company continued to be that of property development.
The directors who served during the year were:
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board and signed on its behalf.
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BROTHERTON DEVELOPMENTS LIMITED
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BROTHERTON DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brotherton Developments Limited for the year ended 31 December 2019 which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given to us.
As a 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/members/regulations-standards-and-guidance/.
This report is made solely to the Board of directors of Brotherton Developments Limited, as a body, in accordance with the terms of our engagement letter dated 12 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Brotherton Developments Limited and state those matters that we have agreed to state to the Board of directors of Brotherton Developments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brotherton Developments Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Brotherton Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Brotherton Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Brotherton 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.
$AccRepSigner
Menzies LLP
Chartered Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9LT
25 September 2020
$AccRepSignerDate
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BROTHERTON DEVELOPMENTS LIMITED
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STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2019
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Retained earnings at the beginning of the year
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(Loss)/profit for the year
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Retained earnings at the end of the year
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The notes on pages 5 to 8 form part of these financial statements.
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BROTHERTON DEVELOPMENTS LIMITED
REGISTERED NUMBER:1960720
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2019
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 5 to 8 form part of these financial statements.
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BROTHERTON DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
Brotherton Developments Limited is a private company limited by shares, incorporated in England and
Wales under the Companies Act 2006. The registered address is located on the company information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue comprises the fair value of the consideration received or receivable, net of value added tax, rebates and discounts.
Basic financial instruments are recognised at amortised cost except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Debtors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs.
Creditors
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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BROTHERTON DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Only freehold land, which is not depreciated
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
The company owns and manages tree plantations on its freehold land. These are accounted for under the cost model in accordance with FRS 102 section 34. The biological assets arising from these managed woodlands are the trees in the plantations, the agricultural produce is the felled trees and the products that are the result of processing after harvest are logs/timber.
When the company acquired the freehold land it already contained a mixture of tree plantations and the cost of each of these was not determined separately from the freehold land acquired. Any subsequent plantation of trees since acquisition of the land is capitalised separately under this accounting policy.
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BROTHERTON DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
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Charge for the year on owned assets
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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The average monthly number of employees, including directors, during the year was 0 (2018 -0).
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Allotted, called up and fully paid
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100 (2018 -100) Ordinary shares shares of £1.00 each
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BROTHERTON DEVELOPMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
7.Commitments
The company is included in a group registration for VAT purposes and is therefore jointly and severally liable for all other group companies' unpaid debt in this connection. The liability of the UK group registration at 31 December 2019 amounted to £239,232 (2018: £325,154).
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Post balance sheet events
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On 11 March 2020, the World Health Organization declared the outbreak of a coronavirus (COVID-19) a pandemic. When undertaking impairment reviews on relevant assets at the year end the directors did not take into account the impact of the outbreak of coronavirus into their calculation, as the condition did not exist at the balance sheet date.
At the time of approving these accounts the directors believe it too soon to assess the impairment of assets (if any) that may have occurred in the post year end period in relation to the effects of the coronavirus on the company. The directors will keep under review the carrying values of assets of the company until such time that any impact can be fully assessed.
The smallest group in which the results of the Company are consolidated is that headed by Maybrook Properties Limited. The registered office of Maybrook Properties Limited is 3rd Floor, 43 London Wall, EC2M 5TF.
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