Brookside (Management) Limited 30/11/2020 iXBRL

Brookside (Management) Limited 30/11/2020 iXBRL

BROOKSIDE (MANAGEMENT) LIMITED - Company Information

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Company registration number: 01683894
Brookside (Management) Limited
Trading as Brookview Court, Enfield, EN1 2HE
Unaudited filleted financial statements
30 November 2020
Brookside (Management) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Brookside (Management) Limited
Directors and other information
Directors KA Crayk
JR Hayes
Company number 01683894
Registered office 438 Ley Street
Ilford
Essex
IG2 7BS
Business address 5 Brookview Court
38 Village Road
Enfield
Middlesex
EN1 2HE
Accountants DK Business Services Limited
438 Ley Street
Ilford
Essex
IG2 7BS
Bankers Barclays Bank plc
PO Box No 110
20 The Town
Enfield
Middlesex
EN2 6LY
Brookside (Management) Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Brookside (Management) Limited
Year ended 30 November 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brookside (Management) Limited for the year ended 30 November 2020 as set out on pages to 3 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of The Association of International Accountants , we are subject to its ethical and other professional requirements which are detailed at www.aiaworldwide.com/guidance-ethics.
This report is made solely to the board of directors of Brookside (Management) Limited, as a body, in accordance with the terms of our engagement letter dated 18 April 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Brookside (Management) Limited and state those matters that we have agreed to state to the board of directors of Brookside (Management) Limited as a body, in this report in accordance with the requirements of The Association of International Accountants as detailed at www.aiaworldwide.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brookside (Management) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Brookside (Management) 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 profit of Brookside (Management) Limited. You consider that Brookside (Management) 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 Brookside (Management) 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.
DK Business Services Limited
Accountants and Business Advisors
438 Ley Street
Ilford
Essex
IG2 7BS
24 February 2021
Brookside (Management) Limited
Statement of financial position
30 November 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 4 6,534 6,534
_______ _______
6,534 6,534
Current assets
Debtors 5 66 66
_______ _______
66 66
Net current assets 66 66
_______ _______
Total assets less current liabilities 6,600 6,600
_______ _______
Net assets 6,600 6,600
_______ _______
Capital and reserves
Called up share capital 600 600
Profit and loss account 6,000 6,000
_______ _______
Shareholders funds 6,600 6,600
_______ _______
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 November 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 February 2021 , and are signed on behalf of the board by:
KA Crayk
Director
Company registration number: 01683894
Brookside (Management) Limited
Notes to the financial statements
Year ended 30 November 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 438 Ley Street, Ilford, Essex, IG2 7BS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in equity during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Freehold property - 0 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 December 2019 and 30 November 2020 6,534 6,534
_______ _______
Depreciation
At 1 December 2019 and 30 November 2020 - -
_______ _______
Carrying amount
At 30 November 2020 6,534 6,534
_______ _______
At 30 November 2019 6,534 6,534
_______ _______
5. Debtors
2020 2019
£ £
Other debtors 66 66
_______ _______
6. Controlling party
KA Crayk and JR Hayes