Branksome Park Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08654034 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

BRANKSOME PARK HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

12

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

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

1,230

1,445

Investments

5

461

500

Investment property

6

743,081

737,729

744,772

739,674

CURRENT ASSETS

Debtors

7

165,253

36,196

Cash at bank

9,195

62,741

174,448

98,937

CREDITORS

Amounts falling due within one year

8

348,254

306,001

NET CURRENT LIABILITIES

(173,806

)

(207,064

)

TOTAL ASSETS LESS CURRENT LIABILITIES

570,966

532,610

CREDITORS

Amounts falling due after more than one year

9

368,190

398,341

NET ASSETS

202,776

134,269

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

202,676

134,169

SHAREHOLDERS' FUNDS

202,776

134,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 July 2017 and were signed on its behalf by:

J Oak - Director

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 has taken the option under Section 398 of the Companies Act 2006 not 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.

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.

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 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2016

and 31 March 2017

2,100

DEPRECIATION

At 1 April 2016

655

Charge for year

215

At 31 March 2017

870

NET BOOK VALUE

At 31 March 2017

1,230

At 31 March 2016

1,445

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

500

Additions

51

Disposals

(90

)

At 31 March 2017

461

NET BOOK VALUE

At 31 March 2017

461

At 31 March 2016

500

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Woodmace Plant Ltd

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Plant hire

%

Class of shares:

holding

Ordinary

100.00

2017

2016

£

£

Aggregate capital and reserves

877,183

432,017

Profit for the year

445,166

220,076

Woodmace Concrete Structures Ltd

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Civil engineering

%

Class of shares:

holding

Ordinary

80.00

2017

2016

£

£

Aggregate capital and reserves

363,674

229,936

Profit for the year

153,738

113,017

Woodmace Soil Stabilisation Ltd

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Civil engineering

%

Class of shares:

holding

Ordinary

80.00

2017

2016

£

£

Aggregate capital and reserves

3,303

10,820

(Loss)/profit for the year

(7,517

)

10,720

Southern Counties Drilling Solutions Limited

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Drilling

%

Class of shares:

holding

Ordinary

75.50

2017

2016

£

£

Aggregate capital and reserves

100

100

Profit for the year

26,250

-

Woodmace Civil Engineering Ltd

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

2017

2016

£

£

Aggregate capital and reserves

100

100

N.C./J.O. Holding Co Ltd

Registered office: 3 Durrant Road, Bournemouth, Dorset BH2 6NE

Nature of business: Non trading holding company

%

Class of shares:

holding

Ordinary

51.00

2017

£

Aggregate capital and reserves

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

737,729

Additions

5,352

At 31 March 2017

743,081

NET BOOK VALUE

At 31 March 2017

743,081

At 31 March 2016

737,729

In the opinion of the directors the historical cost of the property represents the current market value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

38,153

13,500

Amounts owed by group undertakings

32,100

22,100

Other debtors

95,000

596

165,253

36,196

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

30,549

29,144

Amounts owed to group undertakings

361

400

Corporation tax

22,722

5,302

Social security and other taxes

7,469

3,735

VAT

12,599

12,739

Other creditors

11,250

11,250

Directors' current accounts

224,082

224,082

Accruals and deferred income

39,222

19,349

348,254

306,001

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

31,955

30,549

Bank loans - 2-5 years

104,297

100,081

Bank loans more 5 yr by instal

231,938

267,711

368,190

398,341

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

231,938

267,711

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

398,739

427,485

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

12.	RELATED PARTY DISCLOSURES

MR & MRS J OAK

Directors and shareholders

Interest bearing loan on which no terms of repayment have been agreed. Interest is charged at 10%

per annum simple and the amount included in the profit and loss account during the period was

£22,408 (2016 - £22,408). The amount of interest unpaid at the balance sheet date and included in

creditors amounted to £44,816 (2016 - £22,408). The loan balance (excluding interest) due to Mr &

Mrs Oak at the balance sheet date amounted to £224,082 (2016 - £224,082).

SOUTHERN COUNTIES DRILLING SOLUTIONS LTD

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Southern Counties Drilling Solutions Ltd at the balance sheet date amounted to £50 (2016 - £NIL).

N.C./J.O. HOLDING CO LTD

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

N.C./J.O. Holding Co Ltd at the balance sheet date amounted to £51 (2016 - £NIL).

WOODMACE PLANT LIMITED

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from

Woodmace Plant Ltd at the balance sheet date amounted to £32,100 (2016 - £22,100).

WOODMACE CONCRETE STRUCTURES LIMITED

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed.The amount due to

Woodmace Concrete Structures Ltd at the balance sheet date amounted to £80 (2016 - £100).

WOODMACE SOIL STABILISATION LIMITED

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Woodmace Soil Stabilisation Ltd at the balance sheet date amounted to £80 (2016 - £100).

WOODMACE CIVIL ENGINEERING LIMITED

Subsidiary

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to

Woodmace Civil Engineering Ltd at the balance sheet date amounted to £100 (2016 - £100).

SPECIALIST PILING SOLUTIONS LIMITED

A subsidiary of N.C./J.O Holding Co Limited

During the current and previous period, Specialist Piling Solutions Ltd occupied the investment

property owned by Branksome Park Holdings Limited. Rent is charged on normal commercial terms

and the amount included in the profit and loss account for the period amounted to £22,000 (2016 -

£NIL). Of these amounts, £26,400 (2016 - £NIL) was included in trade debtors at the balance sheet

date.

WOODMACE LIMITED

A company controlled by Mr J Oak

During the current and previous period, Woodmace Limited occupied the investment property owned

by Branksome Park Holdings Limited. Rent is charged on normal commercial terms and the amount

included in the profit and loss account for the period amounted to £65,000 (2016 - £90,000). No

amounts were outstanding in respect of these charges at either balance sheet date.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from

Woodmace Ltd at the balance sheet date amounted to £45,000 (2016 - £NIL)

13.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, no individual exercised overall control during the current and previous

period.

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Branksome Park Holdings Limited for the year ended 31 March 2017

which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Branksome Park Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Branksome Park Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Branksome Park Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Branksome Park Holdings Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Branksome Park Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Branksome Park Holdings Limited. You consider that Branksome Park Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Branksome Park Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

27 July 2017