Brook Financial Advice Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03726910 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

BROOK FINANCIAL ADVICE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M R Brook

REGISTERED OFFICE:

The Old Manor Farmhouse

191 Fore Street

Barton

Torquay

Devon

TQ2 8DP

REGISTERED NUMBER:

03726910 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

FIXED ASSETS

Tangible assets

4

178

238

CURRENT ASSETS

Debtors

5

6

-

Cash at bank

74,944

54,569

74,950

54,569

CREDITORS

Amounts falling due within one year

6

21,749

33,404

NET CURRENT ASSETS

53,201

21,165

TOTAL ASSETS LESS CURRENT LIABILITIES

53,379

21,403

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

53,377

21,401

SHAREHOLDERS' FUNDS

53,379

21,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2022 and were signed by:

Mr M R Brook - Director

1.	STATUTORY INFORMATION

Brook Financial Advice 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2021

and 31 March 2022

8,230

DEPRECIATION

At 1 April 2021

7,992

Charge for year

60

At 31 March 2022

8,052

NET BOOK VALUE

At 31 March 2022

178

At 31 March 2021

238

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Prepayments

6

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

16,194

22,438

Directors' current accounts

3,780

9,233

Accrued expenses

1,775

1,733

21,749

33,404

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022

2021

£

£

Mr M R Brook

Balance outstanding at start of year

(9,233

)

(4,141

)

Amounts advanced

72,550

46,337

Amounts repaid

(67,097

)

(51,429

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(3,780

)

(9,233

)

Loans are interest free and repayable on demand.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,000 (2021 - £34,500) were paid to the directors .

The company rented the directors personal residence under a Licence to Occupy agreement for £1,083 (2021: £1,048).