Brooke Homes Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05399298 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

BROOKE HOMES DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J M Holleran

Mr D M Ives

Mr J J Costello

REGISTERED OFFICE:

39/40 Upper Grosvenor Street

Mayfair

London

W1K 2NG

REGISTERED NUMBER:

05399298 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

2

30,220

3,733

Investments

3

821,246

796,811

Investment property

4

5,210,000

5,000,000

6,061,466

5,800,544

CURRENT ASSETS

Stocks

972,389

-

Debtors

1,487,308

792,246

Cash at bank and in hand

76

2,721

2,459,773

794,967

CREDITORS

Amounts falling due within one year

5

7,658,360

4,939,927

NET CURRENT LIABILITIES

(5,198,587

)

(4,144,960

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

862,879

1,655,584

PROVISIONS FOR LIABILITIES

600,356

628,206

NET ASSETS

262,523

1,027,378

CAPITAL AND RESERVES

Called up share capital

6

100

Revaluation reserve

1,847,219

1,813,677

Profit and loss account

(1,584,796

)

(786,399

)

SHAREHOLDERS' FUNDS

262,523

1,027,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 September 2016 and were signed on its behalf
by:

Mr J M Holleran - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

15% on cost

Office equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

In accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective April 2015).

investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation

reserve. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the

generally accepted accounting principle set out in the FRSSE (effective April 2015). The director considers, that

because investment properties are not held for consumption, but for their investment potential, to depreciate them

would not give a true and fair view, and that it is necessary to depart from the Companies Act 2006 and adopt the

FRSSE (effective April 2015) in order to give a true and fair view.

If this departure had not been made, the profit for the year would have been reduced by depreciation. The

amount of depreciation cannot reasonably be quantified because the useful economic life and residual value

cannot be determined.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

5,434

Additions

31,106

At 30 June 2016

36,540

DEPRECIATION

At 1 July 2015

1,701

Charge for year

4,619

At 30 June 2016

6,320

NET BOOK VALUE

At 30 June 2016

30,220

At 30 June 2015

3,733

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

783,156

NET BOOK VALUE

At 30 June 2016

783,156

At 30 June 2015

783,156

Loans

£

At 1 July 2015

13,655

Additions

24,435

At 30 June 2016

38,090

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 July 2015

5,000,000

Additions

176,458

Revaluations

33,542

At 30 June 2016

5,210,000

NET BOOK VALUE

At 30 June 2016

5,210,000

At 30 June 2015

5,000,000

5.

CREDITORS

Creditors include an amount of £ 1,792,719 (2015 - £ 1,950,000 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100