Brookdale Transport Ltd Company Accounts

BROOKDALE TRANSPORT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06761687

Brookdale Transport Ltd

Filleted Unaudited Financial Statements

30 November 2017

Brookdale Transport Ltd

Financial Statements

Year ended 30 November 2017

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Brookdale Transport Ltd

Officers and Professional Advisers

Director	Mr D E Hidle

Registered office	14 Astley Way Industrial Estate
	Swillington
	Leeds
	West Yorklshire
	LS26 8XT

Accountants	Parsons
	Chartered Accountants
	No 2 Silkwood Office Park
	Fryers Way
	Wakefield
	West Yorkshire
	WF5 9TJ

Brookdale Transport Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Brookdale Transport Ltd

Year ended 30 November 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brookdale Transport Ltd for the year ended 30 November 2017, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Brookdale Transport Ltd in accordance with the terms of our engagement letter dated 20 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Brookdale Transport Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brookdale Transport Ltd and its director for our work or for this report.

It is your duty to ensure that Brookdale Transport Ltd 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 Brookdale Transport Ltd. You consider that Brookdale Transport Ltd 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 Brookdale Transport Ltd. 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.

Parsons Chartered Accountants

No 2 Silkwood Office Park Fryers Way Wakefield West Yorkshire WF5 9TJ

8 March 2018

Brookdale Transport Ltd

Statement of Financial Position

30 November 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	1,641,708	1,514,906

Current assets

Debtors	6	484,128	378,033
Cash at bank and in hand		55	11
		---------	---------
		484,183	378,044

Creditors: amounts falling due within one year	7	873,392	769,555
		---------	---------
Net current liabilities		389,209	391,511
		------------	------------
Total assets less current liabilities		1,252,499	1,123,395

Creditors: amounts falling due after more than one year	8	670,314	715,188

Provisions	142,898	109,676
	------------	------------
Net assets	439,287	298,531
	------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	439,286	298,530
	---------	---------
Shareholders funds	439,287	298,531
	---------	---------

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 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Brookdale Transport Ltd

Statement of Financial Position (continued)

30 November 2017

These financial statements were approved by the board of directors and authorised for issue on 8 March 2018 , and are signed on behalf of the board by:

Mr D E Hidle
Director

Company registration number: 06761687

Brookdale Transport Ltd

Notes to the Financial Statements

Year ended 30 November 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Astley Way Industrial Estate, Swillington, Leeds, West Yorklshire, LS26 8XT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Recoverability of Receivables Depreciation policy of Tangible Fixed Assets The director has considered the recoverability of all trade debts (taking account of the age if the debt, past experience and credit profile of the customers) and has judged the economical life of the fixed assets.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

	Equipment	-	33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2016: 16 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Computer Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Dec 2016	820,608	25,230	528	915,692	4,978	1,767,036
Additions	–	–	–	351,760	–	351,760
Disposals	–	–	–	( 271,345)	–	( 271,345)
	---------	--------	----	---------	-------	------------
At 30 Nov 2017	820,608	25,230	528	996,107	4,978	1,847,451
	---------	--------	----	---------	-------	------------
Depreciation
At 1 Dec 2016	7,264	16,127	481	224,278	3,980	252,130
Charge for the year	7,260	2,031	13	54,092	284	63,680
Disposals	–	–	–	( 110,067)	–	( 110,067)
	---------	--------	----	---------	-------	------------
At 30 Nov 2017	14,524	18,158	494	168,303	4,264	205,743
	---------	--------	----	---------	-------	------------
Carrying amount
At 30 Nov 2017	806,084	7,072	34	827,804	714	1,641,708
	---------	--------	----	---------	-------	------------
At 30 Nov 2016	813,344	9,103	47	691,414	998	1,514,906
	---------	--------	----	---------	-------	------------

6. Debtors

	2017	2016
	£	£
Trade debtors	357,336	334,701
Amounts owed by group undertakings and undertakings in which the company has a participating interest	82,517	–
Other debtors	44,275	43,332
	---------	---------
	484,128	378,033
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	85,313	79,505
Trade creditors	108,115	124,896
Amounts owed to undertakings in which the company has a participating interest	–	15,100
Social security and other taxes	188,546	116,814
Obligations under finance leases and hire purchase contracts	197,422	185,061
Director loan accounts	459	8,094
Wages & Salaries Control	–	10,210
Factoring Account	285,526	196,123
Other creditors	8,011	33,752
	---------	---------
	873,392	769,555
	---------	---------

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

	2017	2016
	£	£
Bank loans and overdrafts	476,211	557,076
Obligations under finance leases and hire purchase contracts	194,103	158,112
	---------	---------
	670,314	715,188
	---------	---------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D E Hidle	( 8,094)	42,635	( 35,000)	( 459)
	-------	--------	--------	----

	2016
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr D E Hidle	31,202	( 39,296)	–	( 8,094)
	--------	--------	----	-------

10. Controlling party

The company is a wholly owned subsidiary of Brookdale Group Ltd (registered office: No 2 Silkwood Office Park, Fryers Way, Wakefield, West Yorkshire, WF5 9TJ).