Brook Developments UK Limited - Accounts to registrar (filleted) - small 18.2

Brook Developments UK Limited - Accounts to registrar (filleted) - small 18.2

BROOK DEVELOPMENTS UK LIMITED - Company Information

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REGISTERED NUMBER: 04366606 (England and Wales)













Financial Statements

for the Year Ended 31 March 2018

for

Brook Developments UK Limited
Brook Developments UK Limited (Registered number: 04366606)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Brook Developments UK Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: Mr D A J Allen
Mrs P L Pollock
Mrs C A Allen



REGISTERED OFFICE: 8 Hadleigh Drive
LINCOLN
Lincolnshire
LN6 7HW



REGISTERED NUMBER: 04366606 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Yorkshire Bank plc
8 Guildhall Street
LINCOLN
Lincolnshire
LN1 1TT
Page 1
Brook Developments UK Limited (Registered number: 04366606)

Statement of Financial Position
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,234,850 1,234,850
1,234,850 1,234,850

CURRENT ASSETS
Debtors 6 861 828
Cash at bank 348 8,717
1,209 9,545
CREDITORS
Amounts falling due within one year 7 22,866 47,478
NET CURRENT LIABILITIES (21,657 ) (37,933 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,213,193
1,196,917

PROVISIONS FOR LIABILITIES 64,969 74,164
NET ASSETS 1,148,224 1,122,753

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 1,148,124 1,122,653
SHAREHOLDERS' FUNDS 1,148,224 1,122,753

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 notes form part of these financial statements

Page 2 continued...
Brook Developments UK Limited (Registered number: 04366606)

Statement of Financial Position - continued
31 March 2018


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 6 September 2018 and were
signed on its behalf by:




Mrs C A Allen - Director



Mrs P L Pollock - Director


The notes form part of these financial statements

Page 3
Brook Developments UK Limited (Registered number: 04366606)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Brook Developments UK 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income and net invoiced sales of goods, 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.
Fixtures and fittings - 25% on cost

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising
from changes in fair value is recognised in profit or loss.

Under the Companies Act 2006 all fixed assets should be depreciated over their useful economic
lives. However, in accordance with the Financial Reporting Standard 102 (Section 1A) investment
properties should not be subject to a periodic charge for depreciation and should be included in
the balance sheet at their fair value. The directors consider that this property is not held for
consumption but for its investment potential and in order to give a true and fair view it is
appropriate to depart from the Companies Act.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial
liabilities are recognised in the accounts only when the entity becomes party to the contractual
provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt
instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments,
and are measured at amortised cost. Where a financial liability constitutes a financing transaction
it is initially and subsequently measures at the present value of future payments, discounted at a
market rate of interest.

Operating lease agreements
Rental income from operating leases are recognised on a straight line basis over the term of the
lease.

Page 4 continued...
Brook Developments UK Limited (Registered number: 04366606)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2017 11,094
Disposals (11,094 )
At 31 March 2018 -
DEPRECIATION
At 1 April 2017 11,094
Eliminated on disposal (11,094 )
At 31 March 2018 -
NET BOOK VALUE
At 31 March 2018 -
At 31 March 2017 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017
and 31 March 2018 1,234,850
NET BOOK VALUE
At 31 March 2018 1,234,850
At 31 March 2017 1,234,850

The historical cost of the investment properties is £563,721 (2017: £563,721).

If depreciation had been charged on historical cost during the year the charge for the year would
have been £11,274 (2017: £11,274).

All of the investment properties are rented out under operating leases. The amount of rent
received from these properties totalled £61,694 (2017: £59,444).

Page 5 continued...
Brook Developments UK Limited (Registered number: 04366606)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2018 is represented by:

£   
Valuation in 2017 671,129
Cost 563,721
1,234,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Prepayments and accrued income 861 828

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Tax 3,816 10,913
Inter company - Gladebrook 16,950 34,165
Accruals and deferred income 2,100 2,400
22,866 47,478

8. RESERVES
Retained
earnings
£   

At 1 April 2017 1,122,653
Profit for the year 25,471
At 31 March 2018 1,148,124

Included within reserves is an amount of £606,160 (2017: £596,965) which relates to an upward
revaluation of investment properties. This amount does not represent distributable reserves.

9. RELATED PARTY DISCLOSURES

The company is related to Gladebrook Limited as Mr D A J Allen, Mrs C A Allen and Mrs P L
Pollock are directors and 100% shareholders.

Included in closing creditors is an amount owed to Gladebrook Limited of £16,950 (2017:
£34,165).

Included in expenditure is a management charge of £25,000 (2017: Nil) paid to Gladebrook
Limited.

Page 6