Brand Division Limited - Period Ending 2020-07-31

BRAND DIVISION LIMITED - Company Information

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Brand Division Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2020

Registration number: 06519800

Brand Division Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

Brand Division Limited

Company Information

Directors

M J Franks

M A Lovegrove

Company secretary

M A Lovegrove

Registered office

Unit 31
ESAM
Carluddon Technology Park
ST AUSTELL
Cornwall
PL26 8WE

Accountants

Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
Devon
PL4 0RA

Brand Division Limited

Balance Sheet

31 July 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	22,698	-
Investment property	5	791,627	-
Investments	6	210,690	8,084
		1,025,015	8,084
Current assets
Debtors	7	761,623	74,361
Cash at bank and in hand		37,769	1,046
		799,392	75,407
Creditors: Amounts falling due within one year	8	(1,557,713)	(79,634)
Net current liabilities		(758,321)	(4,227)
Total assets less current liabilities		266,694	3,857
Creditors: Amounts falling due after more than one year	8	(165,631)	-
Provisions for liabilities		(19,961)	-
Net assets		81,102	3,857
Capital and reserves
Called up share capital	10	112	112
Revaluation reserve		85,096	-
Profit and loss account		(4,106)	3,745
Total equity		81,102	3,857

Brand Division Limited

Balance Sheet

31 July 2020

For the financial year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 March 2021 and signed on its behalf by:

.........................................
M A Lovegrove
Director

Company Registration Number: 06519800

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office and principal place of business is:
Unit 31
ESAM
Carluddon Technology Park
ST AUSTELL
Cornwall
PL26 8WE

These financial statements were authorised for issue by the Board on 19 March 2021.

2	Accounting policies

Statement of compliance

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 Section 1A, and the Companies Act 2006. There are no material departures from FRS102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The director's have prepared the financial statements on a going concern basis, on the understanding that they will continue to provide financial support if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

Financial instruments

Classification
The company holds the following financial instruments:

• Short term other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2019 - 0).

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

4	Tangible assets

	Furniture, fittings and equipment £
Cost
Additions	28,373
At 31 July 2020	28,373
Depreciation
Charge for the year	5,675
At 31 July 2020	5,675
Carrying amount
At 31 July 2020	22,698

5	Investment properties

	2020 £
Additions	686,570
Fair value adjustments	105,057
At 31 July	791,627

The investment property was revalued on the 31st July 2020 by the directors. The directors believe that an appropriate value would be £791,627 based on recent sales of similar properties in the area.

6	Investments

	2020 £	2019 £
Investments in subsidiaries	210,690	8,084

Subsidiaries	£
Cost
At 1 August 2019	8,084
Additions	202,606
At 31 July 2020	210,690
Carrying amount
At 31 July 2020	210,690
At 31 July 2019	8,084

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2020	2019
Subsidiary undertakings
PVM Property Limited	Trevithick Brunel Business Park St Austell	Ordinary	85.71%	25%
	England
Ethical Energy Developments Limited	Trevithick Brunel Business Park St Austell	Ordinary	50%	33.3%
	England

Subsidiary undertakings

PVM Property Limited

The principal activity of PVM Property Limited is property development..

Ethical Energy Developments Limited

The principal activity of Ethical Energy Developments Limited is renewable energy..

Debtors

	2020 £	2019 £
Amounts due from group undertakings	427,541	74,361
Other debtors	333,375	-
Prepayments	707	-
	761,623	74,361

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Loans and borrowings	9,250	-
Trade creditors	11,075	-
Other creditors	204	-
Accrued expenses	2,250	2,250
Amounts owed to related companies	1,534,934	77,384
	1,557,713	79,634

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	9	165,631	-

9	Loans and borrowings

	2020 £	2019 £
Loans and borrowings due after one year
Bank borrowings	165,631	-

	2020 £	2019 £
Current loans and borrowings
Bank borrowings	9,250	-

Bank borrowings

Handelsbanken is denominated in £, sterling with a nominal interest rate of 2.88% + base rate%, and the final instalment is due on 23 December 2024. The carrying amount at year end is £174,881 (2019 - £Nil).

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

10	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary shares of £1 each	112	112	112	112

11	Related party transactions

Advances to directors

2019	At 1 August 2018 £	Advances to director £	Repayments by director £	At 31 July 2019 £
M J Franks
Loans to directors	(62,929)	(52,336)	115,266	-

Loans to related parties

2020	Entities under common control £
At start of period	74,241
Advanced	289,095
Repaid	(74,241)
At end of period	289,095

2019	Entities under common control £
At start of period	76,741
Repaid	(2,500)
At end of period	74,241

Terms of loans to related parties

The loans do not bear interest and are repayable on demand. They are included within debtors due within 1 year.

Brand Division Limited

Notes to the Unaudited Financial Statements

Year Ended 31 July 2020

Loans from related parties

2020	Entities under common control £
At start of period	(77,384)
Advanced	(1,457,550)
At end of period	(1,534,934)

2019	Entities under common control £
Advanced	(77,384)

The company has taken advantage of the exemption provided by FRS102 not to disclose transactions entered between two or more members of the group, provided that any subsidiary which is a party to the transaction with is wholly owned by such a member.