Branksome Park Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

Branksome Park Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

BRANKSOME PARK HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 08654034 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRANKSOME PARK HOLDINGS LIMITED
Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE








BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRANKSOME PARK HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J Oak
Mrs C B A Oak





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 08654034 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE
Page 1
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,175 544
Investments 5 3,436 3,487
Investment property 6 1,400,000 1,400,000
1,412,611 1,404,031

CURRENT ASSETS
Debtors 7 893,735 645,419
Cash at bank 89,576 201,272
983,311 846,691
CREDITORS
Amounts falling due within one year 8 460,142 334,568
NET CURRENT ASSETS 523,169 512,123
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,935,780
1,916,154

CREDITORS
Amounts falling due after more than one
year
9
(805,045
)
(195,242
)

PROVISIONS FOR LIABILITIES (2,294 ) (112,007 )
NET ASSETS 1,128,441 1,608,905

The notes form part of these financial statements

Page 2
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserve 11 656,919 545,015
Retained earnings 11 471,422 1,063,790
SHAREHOLDERS' FUNDS 1,128,441 1,608,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 3 August 2023 and were signed on its behalf by:





J Oak - Director


The notes form part of these financial statements

Page 3
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Branksome Park Holdings 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.

Preparation of consolidated financial statements
The financial statements contain information about Branksome Park Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rents receivable during the period, excluding 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.
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairments.

Investment property
Investment properties are included at their open market value.

In accordance with the provisions of FRS102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The director is of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

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.

Page 4
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 2,100
Additions 10,250
At 31 March 2023 12,350
DEPRECIATION
At 1 April 2022 1,556
Charge for year 1,619
At 31 March 2023 3,175
NET BOOK VALUE
At 31 March 2023 9,175
At 31 March 2022 544

Page 5
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 3,487
Disposals (51 )
At 31 March 2023 3,436
NET BOOK VALUE
At 31 March 2023 3,436
At 31 March 2022 3,487

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,400,000
NET BOOK VALUE
At 31 March 2023 1,400,000
At 31 March 2022 1,400,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2018 431,919
Valuation in 2021 225,000
Cost 743,081
1,400,000

The directors consider that the carrying value of the investment property accurately reflects the current market value.

Page 6
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,175 2,200
Amounts owed by group undertakings 775,560 154,031
Other debtors 80,000 489,188
893,735 645,419

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,970 37,577
Trade creditors 389 1,665
Amounts owed to group undertakings 151 16,462
Taxation and social security 33,899 32,833
Other creditors 395,733 246,031
460,142 334,568

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 805,045 195,242

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 30,881

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 835,015 232,819

11. RESERVES

The other reserve is non distributable and relates to the revaluation of the investment property.

Page 7
BRANKSOME PARK HOLDINGS LIMITED (REGISTERED NUMBER: 086

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from group companies at the balance sheet date amounted to £775,560 (2022 - £154,031).

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to group companies at the balance sheet date amounted to £151 (2022 - £16,462).

Page 8