Browood Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03531603 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

BROWOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Rothbart

REGISTERED OFFICE:

Unit 4 70-72 Markfield Road

London

N15 4QF

REGISTERED NUMBER:

03531603 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

4

171,036

252,402

CURRENT ASSETS

Debtors

5

232,461

232,461

Cash at bank

398

2,381

232,859

234,842

CREDITORS

Amounts falling due within one year

6

(28,027

)

(100,382

)

NET CURRENT ASSETS

204,832

134,460

TOTAL ASSETS LESS CURRENT LIABILITIES

375,868

386,862

CREDITORS

Amounts falling due after more than one year

7

(349,634

)

(353,856

)

NET ASSETS

26,234

33,006

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

26,232

33,004

SHAREHOLDERS' FUNDS

26,234

33,006

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 23 December 2022 and were signed by:

D Rothbart - Director

1.	STATUTORY INFORMATION

Browood 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net rent receivable, excluding value added tax.

Investment property

Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:

a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

252,402

Disposals

(81,366

)

At 31 March 2022

171,036

NET BOOK VALUE

At 31 March 2022

171,036

At 31 March 2021

252,402

The director has confirmed that there is no significant increase or decrease in the property market value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

232,461

232,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

3,751

3,750

Taxation and social security

3,775

3,982

Other creditors

20,501

92,650

28,027

100,382

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

349,634

353,856

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

301,959

303,856

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Bank loans

349,634

353,856

1.Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

2. Under the bank loan, £47675.29 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

2

Ordinary

£2

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2021

33,004

Deficit for the year

(6,772

)

At 31 March 2022

26,232

11.	ULTIMATE CONTROLLING PARTY

D Rothbart is the ultimate controller by virtue of owning 100% of the ordinary share capital in the company.