Brentpark (Harrow) Ltd Company Accounts

BRENTPARK(HARROW) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07420717

Brentpark (Harrow) Ltd

Filleted Unaudited Financial Statements

31 December 2016

Brentpark (Harrow) Ltd

Financial Statements

Year ended 31 December 2016

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Brentpark (Harrow) Ltd

Officers and Professional Advisers

The board of directors	Mr M Patel
	Mr H Shah

Company secretary	Mr M Patel

Registered office	9A The Broadway
	Stanmore
	Middlesex
	UK
	HA7 4DA

Accountants	Shah Gillani and Company
	Chartered Certified Accountants
	Kimberley House
	31 Burnt Oak Broadway
	Edgware
	Middlesex
	HA8 5LD

Brentpark (Harrow) Ltd

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed assets

Investments	4		2,006,321	903,821

Current assets

Stocks	5	–	1,052,968
Debtors	6	726,319	4,238
Cash at bank and in hand		119,041	53,662
		---------	------------
		845,360	1,110,868

Creditors: amounts falling due within one year	7	248,551		893,309
		---------		------------
Net current assets			596,809	217,559
			------------	------------
Total assets less current liabilities			2,603,130	1,121,380

Creditors: amounts falling due after more than one year	8	2,972,466	1,127,830
		------------	------------
Net liabilities		( 369,336)	( 6,450)
		------------	------------

Capital and reserves

Called up share capital	300,000	300,000
Profit and loss account	( 669,336)	( 306,450)
	---------	---------
Members deficit	( 369,336)	( 6,450)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Brentpark (Harrow) Ltd

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 15 September 2017 , and are signed on behalf of the board by:

Mr H Shah
Director

Company registration number: 07420717

Brentpark (Harrow) Ltd

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9A The Broadway, Stanmore, Middlesex, HA7 4DA, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No depreciation or amortisation is provided in respect of investment properties.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Investments

	Shares in group undertakings	Investment properties	Total
	£	£	£
Cost
Additions	100	2,006,221	2,006,321
	----	------------	------------
At 31 December 2016	100	2,006,221	2,006,321
	----	------------	------------
Impairment
At 1 January 2016 and 31 December 2016	–	–	–
	----	------------	------------

Carrying amount
At 31 December 2016	100	2,006,221	2,006,321
	----	------------	------------
At 31 December 2015	–	–	–
	----	------------	------------

The company owns 100% of the issued share capital of Alpha Court (UK) Limited, a company incorporated in England & Wales.

5. Stocks

	2016	2015
	£	£
Work in progress	–	1,052,968
	----	------------

6. Debtors

	2016	2015
	£	£
Trade debtors	725,000	–
Other debtors	1,319	4,238
	---------	-------
	726,319	4,238
	---------	-------

7. Creditors: amounts falling due within one year

	2016	2015
	£	£
Trade creditors	22,853	10,216
Other creditors	225,698	883,093
	---------	---------
	248,551	893,309
	---------	---------

8. Creditors: amounts falling due after more than one year

	2016	2015
	£	£
Bank loans and overdrafts	2,972,366	1,127,830
Other creditors	100	–
	------------	------------
	2,972,466	1,127,830
	------------	------------

The bank loans of £2,972,366 (2015: £1,127,830) are secured by a first legal charge over the company's assets.

9. Post balance sheet event

In March 2017 the company transferred 9 residential flats to its 100% subsidiary Alpha Court (UK) Limited, at a price that resulted in neither a gain nor a loss.

10. Parent company

The ultimate parent company is Brentpark Limited, a company incorporated in England and Wales.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.