Brightwell Estates Ltd - Accounts to registrar (filleted) - small 18.2
Brightwell Estates Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 |
| FOR |
| BRIGHTWELL ESTATES LTD |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| BRIGHTWELL ESTATES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Crane Court |
| 302 London Road |
| Ipswich |
| Suffolk |
| IP2 0AJ |
| BANKERS: |
| 13 Cornhill |
| Ipswich |
| Suffolk |
| IP1 1DG |
| SOLICITORS: |
| 80 Guildhall Street |
| Bury St Edmunds |
| Suffolk |
| IP33 1QB |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| STATEMENT OF FINANCIAL POSITION |
| 31 OCTOBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 OCTOBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Fair value reserve | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 1. | STATUTORY INFORMATION |
| Brightwell Estates Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 and loans with banks and related parties. |
| Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement. |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2019 |
| Additions |
| At 31 October 2020 |
| DEPRECIATION |
| At 1 November 2019 |
| Charge for year |
| At 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2019 |
| Revaluations | (888,588 | ) |
| At 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| Fair value at 31 October 2020 is represented by: |
| £ |
| Valuation in 2014 | 499,928 |
| Valuation in 2015 | 596,132 |
| Valuation in 2016 | 795,806 |
| Valuation in 2017 | 811,088 |
| Valuation in 2020 | (888,589 | ) |
| Cost | 2,203,363 |
| 4,017,728 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2020 | 2019 |
| £ | £ |
| Cost | 2,224,471 | 2,224,471 |
| Investment property was valued on an open market basis on 30 March 2021 by Eddisons Commercial Ltd . |
| 6. | DEBTORS |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 6. | DEBTORS - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans (see note 9) |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| Repayable by instalments |
| Bank loans over 5 years | 185,240 | 202,673 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 9. | LOANS - continued |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst | 2,059,700 | 2,045,118 |
| Repayable by instalments |
| Bank loans over 5 years | 185,240 | 202,673 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| 11. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax |
| Investment property | 325,905 | 497,027 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2019 |
| Investment property gains | (171,122 | ) |
| Balance at 31 October 2020 |
| BRIGHTWELL ESTATES LTD (REGISTERED NUMBER: 07896251) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2020 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 13. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 November 2019 |
| Investment property gains | (717,466 | ) |
| At 31 October 2020 |