BRM Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02043576 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

BRM MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J H Bowness

REGISTERED OFFICE:

Grive House

45 Walton Street

WALTON ON THE HILL

Surrey

KT20 7RR

REGISTERED NUMBER:

02043576 (England and Wales)

ACCOUNTANTS:

McKenzies

Chartered Accountants

2 Station Road West

Oxted

Surrey

RH8 9EP

FIXED ASSETS

Tangible assets

4

4,854,897

4,858,438

CURRENT ASSETS

Debtors

5

212,805

183,743

Cash at bank

71,655

174,641

284,460

358,384

CREDITORS

Amounts falling due within one year

6

47,018

89,694

NET CURRENT ASSETS

237,442

268,690

TOTAL ASSETS LESS CURRENT LIABILITIES

5,092,339

5,127,128

CREDITORS

Amounts falling due after more than one year

7

(1,317,481

)

(1,317,485

)

PROVISIONS FOR LIABILITIES

(701,453

)

(713,500

)

NET ASSETS

3,073,405

3,096,143

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

9

2,990,111

-

Retained earnings

82,294

3,095,143

SHAREHOLDERS' FUNDS

3,073,405

3,096,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 September 2021 and were signed by:

J H Bowness - Director

1.	STATUTORY INFORMATION

BRM Management 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts receivable for services net of value added tax.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

20% on cost and 15% on reducing balance

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

The investment properties are revalued annually to open market value and no depreciation is provided. The directors consider this accounting policy results in the financial statements giving a true and fair view. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

The aggregate surplus or deficit arising on revaluation is transferred to the fair value reserve except where a deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Investment

and

property

properties

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2019

and 30 September 2020

450,000

4,470,000

49,587

4,969,587

DEPRECIATION

At 1 October 2019

62,147

-

49,002

111,149

Charge for year

3,453

-

88

3,541

At 30 September 2020

65,600

-

49,090

114,690

NET BOOK VALUE

At 30 September 2020

384,400

4,470,000

497

4,854,897

At 30 September 2019

387,853

4,470,000

585

4,858,438

Cost or valuation at 30 September 2020 is represented by:

Fixtures

Freehold

Investment

and

property

properties

fittings

Totals

£

£

£

£

Valuation in 2015

-

528,100

-

528,100

Valuation in 2013

-

52,467

-

52,467

Valuation in 2006

-

433,907

-

433,907

Valuation in 2003

-

387,008

-

387,008

Valuation in 1999

-

108,235

-

108,235

Valuation in 2017

277,378

1,970,000

-

2,247,378

Cost

172,622

990,283

49,587

1,212,492

450,000

4,470,000

49,587

4,969,587

If the investment properties had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

990,283

990,283

The investment properties were valued on an open market basis on 21 April 2015 by Arnold & Baldwin Chartered Surveyors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

914

-

Other debtors

211,891

183,743

212,805

183,743

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

63

339

Trade creditors

25,995

45,783

Taxation and social security

20,960

43,572

47,018

89,694

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

1,311,696

1,311,700

Other creditors

5,785

5,785

1,317,481

1,317,485

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

1,311,696

1,311,700

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

1,311,696

1,311,700

The bank loans are secured by mortgages over freehold properties and a fixed and floating charge over all other assets.

9.

RESERVES

Fair

value

reserve

£

Transfer to fair value reserve

2,990,111

At 30 September 2020

2,990,111

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2020 and 30 September 2019:

2020

2019

£

£

J H Bowness

Balance outstanding at start of year

133,958

67,960

Amounts advanced

97,753

135,998

Amounts repaid

(97,756

)

(70,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

133,955

133,958