Brent Housing Ltd - Accounts to registrar (filleted) - small 18.2
Brent Housing Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 |
| FOR |
| BRENT HOUSING LTD |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BRENT HOUSING LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Scottish Provident House |
| 76/80 College Road |
| Harrow |
| Middlesex |
| HA1 1 BQ |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| BALANCE SHEET |
| 31 OCTOBER 2020 |
| 31.10.20 | 31.10.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 1. | STATUTORY INFORMATION |
| Brent Housing Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income received from investment properties and the sale of properties. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life. |
| Fixtures & fittings - 25% on reducing balance method |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Investment properties |
| Although the Companies Act 2006 would normally require the systematic annual depreciation of Fixed Assets, the directors believe that the policy of not providing depreciation in respect of Investment Properties is necessary to give the financial statements a true and fair view, since the current value of Investment Properties and changes to that current value are of prime importance rather than a calculation of systematic annual depreciation. |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 November 2019 |
| Additions |
| Revaluations | ( |
) | ( |
) |
| At 31 October 2020 |
| DEPRECIATION |
| At 1 November 2019 |
| Charge for year |
| At 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| Land and buildings included within the Balance Sheet consist entirely of Investment properties. They have been carried in the accounts at the aggregate of cumulative costs and the increase / decrease in revaluations of the properties as at the end of each financial period as shown below. |
| Cost or valuation at 31 October 2020 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2010 | 3,255,120 | - | 3,255,120 |
| Valuation in 2011 | (269,071 | ) | - | (269,071 | ) |
| Valuation in 2012 | 148,711 | - | 148,711 |
| Valuation in 2013 | 1,205,000 | - | 1,205,000 |
| Valuation in 2014 | 1,385,344 | - | 1,385,344 |
| Valuation in 2015 | 1,062,631 | - | 1,062,631 |
| Valuation in 2016 | 936,850 | - | 936,850 |
| Valuation in 2017 | 40,000 | - | 40,000 |
| Valuation in 2018 | 160,000 | - | 160,000 |
| Valuation in 2019 | 91,567 | - | 91,567 |
| Cost | 7,943,848 | - | 7,943,848 |
| 15,960,000 | - | 15,960,000 |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Cost | 7,943,848 | 7,943,848 |
| Investment properties were valued on an open market basis on 31 October 2020 by Mr David Fallon of Daniels Estate Agents . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Loans over 5 years | 5,797,415 | 5,176,166 |
| BRENT HOUSING LTD (REGISTERED NUMBER: 04325154) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Bank loans |
| Bank loans comprise of loans amounting to £6,194,715 which are secured against the company's investment properties and personal guarantee provided by the director. |
| There is a further loan of £50,000 under the Bounce Back Loan Scheme which is secured by way of a guarantee provided by the United Kingdom government. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 November 2019 |
| Investment revaluation reserve | (136,070 | ) |
| At 31 October 2020 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |