Blue Rock Brokers (Holdings) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC472079 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Blue Rock Brokers (Holdings) Ltd

Previously known as

Murphy Brokers (Holdings) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J J McQuaid

T B Yorke

REGISTERED OFFICE:

Low Green House

20 Alloway Place

Ayr

Ayrshire

KA7 2AA

REGISTERED NUMBER:

SC472079 (Scotland)

ACCOUNTANTS:

The Collins Partnership

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

Ayrshire

KA9 2PB

The following reproduces the text of the report prepared for the directors 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 Profit and loss 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 Blue Rock Brokers (Holdings) Ltd for the year ended 31 May 2018 which comprise the Profit and Loss, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Blue Rock Brokers (Holdings) Ltd, 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 Blue Rock Brokers (Holdings) Ltd and state those matters that we have agreed to state to the Board of Directors of Blue Rock Brokers (Holdings) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Blue Rock Brokers (Holdings) 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 Blue Rock Brokers (Holdings) Ltd. You consider that Blue Rock Brokers (Holdings) 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 Blue Rock Brokers (Holdings) 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.

The Collins Partnership

Chartered Accountants

Westburn Business Centre

McNee Road

Prestwick

Ayrshire

KA9 2PB

28 June 2018

FIXED ASSETS

Intangible assets

3

362,500

412,500

Investments

4

1

1

362,501

412,501

CURRENT ASSETS

Debtors

5

56,315

34,808

Cash at bank

3,371

15,178

59,686

49,986

CREDITORS

Amounts falling due within one year

6

200,220

193,735

NET CURRENT LIABILITIES

(140,534

)

(143,749

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,967

268,752

CREDITORS

Amounts falling due after more than one year

7

168,767

243,750

NET ASSETS

53,200

25,002

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

53,198

25,000

SHAREHOLDERS' FUNDS

53,200

25,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2018 and were signed on its behalf by:

J J McQuaid - Director

T B Yorke - Director

1.	STATUTORY INFORMATION

Blue Rock Brokers (Holdings) Ltd is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 and on a going

concern basis.

Goodwill

Goodwill arising on an acquisition of a trade is the difference between the fair value of the consideration paid and the fair

value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss

account over the director's estimate of its useful economic life which is 10 years. Impairment tests on the carrying value of

goodwill are undertaken;

- at the end of the first full financial year following acquisition;

- in other period if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertaking are recognised at cost. Impairment review is carried out regularly.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2017

and 31 May 2018

500,000

AMORTISATION

At 1 June 2017

87,500

Charge for year

50,000

At 31 May 2018

137,500

NET BOOK VALUE

At 31 May 2018

362,500

At 31 May 2017

412,500

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2017

and 31 May 2018

1

NET BOOK VALUE

At 31 May 2018

1

At 31 May 2017

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

53,135

31,107

Prepayments and accrued income

3,180

3,701

56,315

34,808

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

68,750

62,500

Corporation tax

235

-

Directors' loan accounts

130,000

130,000

Accruals and deferred income

1,235

1,235

200,220

193,735

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-2 years

68,750

62,500

Bank loans - 2-5 years

100,017

31,250

Loan notes

-

150,000

168,767

243,750

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

237,517

156,250

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2018 and 31 May 2017:

2018

2017

£

£

T B Yorke

Balance outstanding at start of year

100,000

100,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

100,000

100,000

J J McQuaid

Balance outstanding at start of year

30,000

30,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

30,000

30,000

The loans from the directors are held as a deed of subordination in relation to the bank loan as detailed in note 11.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.