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

REGISTERED NUMBER: SC259274 (Scotland)

BROOKNESS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Kennedy

REGISTERED OFFICE:

2 Baillieston Road

Glasgow

G32 0QF

REGISTERED NUMBER:

SC259274 (Scotland)

FIXED ASSETS

Tangible assets

4

2

2

Investment property

5

200,000

200,000

200,002

200,002

CURRENT ASSETS

Debtors

6

7,897

9,918

CREDITORS

Amounts falling due within one year

7

56,835

41,102

NET CURRENT LIABILITIES

(48,938

)

(31,184

)

TOTAL ASSETS LESS CURRENT LIABILITIES

151,064

168,818

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

17,434

17,434

Retained earnings

133,628

151,382

SHAREHOLDERS' FUNDS

151,064

168,818

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 29 June 2021 and were signed by:

S Kennedy - Director

1.	STATUTORY INFORMATION

Brookness Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Investment property

Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation

Taxation for the year comprises current 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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

and 30 November 2020

7,716

DEPRECIATION

At 1 December 2019

and 30 November 2020

7,714

NET BOOK VALUE

At 30 November 2020

2

At 30 November 2019

2

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2019

and 30 November 2020

200,000

NET BOOK VALUE

At 30 November 2020

200,000

At 30 November 2019

200,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Other debtors

544

536

Director's loan account

7,353

9,382

7,897

9,918

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Taxation and social security

31,217

31,818

Other creditors

25,618

9,284

56,835

41,102

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES