Broxwood Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01083048 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

FOR

BROXWOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J C Owen

J C Owen

S J Owen

A D Owen

REGISTERED OFFICE:

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

REGISTERED NUMBER:

01083048 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Tangible assets

4

10

14

Investment property

5

5,100,000

5,355,001

5,100,010

5,355,015

CURRENT ASSETS

Debtors

6

36,221

164,872

Cash at bank

282,591

196,959

318,812

361,831

CREDITORS

Amounts falling due within one year

7

1,211,814

1,221,022

NET CURRENT LIABILITIES

(893,002

)

(859,191

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,207,008

4,495,824

PROVISIONS FOR LIABILITIES

406,790

455,240

NET ASSETS

3,800,218

4,040,584

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Fair value reserve

8

3,250,025

3,456,576

Retained earnings

500,193

534,008

SHAREHOLDERS' FUNDS

3,800,218

4,040,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 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 applicable to companies subject to the small companies regime.

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 16th December 2019 and were signed on its behalf by:

S J Owen - Director

1.	STATUTORY INFORMATION

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

Significant judgements and estimates

The freehold properties have been revalued by the directors.

Turnover

Turnover represents gross rents receivable during the year.

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 reducing balance

Computer equipment

-

33% on cost

Investment property

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting

period for objective evidence of impairment. If objective evidence of impairment is found, an impairment

loss is recognised in profit or loss.

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and

equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If

there is an indication of possible impairment, the recoverable amount of any asset or group of related

assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared

with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced

to its recoverable amount and an impairment loss is recognised immediately in profit or loss

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2018

and 31st March 2019

3,808

1,140

4,948

DEPRECIATION

At 1st April 2018

3,794

1,140

4,934

Charge for year

4

-

4

At 31st March 2019

3,798

1,140

4,938

NET BOOK VALUE

At 31st March 2019

10

-

10

At 31st March 2018

14

-

14

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2018

5,355,001

Revaluations

(255,001

)

At 31st March 2019

5,100,000

NET BOOK VALUE

At 31st March 2019

5,100,000

At 31st March 2018

5,355,001

Fair value at 31st March 2019 is represented by:

£

Valuation in 2019

3,656,814

Cost

1,443,186

5,100,000

If investment properties had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

1,443,186

1,443,186

Investment properties were valued on an open market basis on 31st March 2019 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

21,825

141,650

Other debtors

14,396

23,222

36,221

164,872

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

54,623

45,256

Other creditors

1,157,191

1,175,766

1,211,814

1,221,022

8.

RESERVES

Fair

value

reserve

£

At 1st April 2018

3,456,576

Revaluations in the year

(255,001

)

Deferred tax adjustment

48,450

At 31st March 2019

3,250,025