BROME PROPERTIES LIMITED

BROME PROPERTIES LIMITED - Company Information

2021-07-012022-06-302022-06-30false04611732BROME PROPERTIES LIMITED2023-03-1468209iso4217:GBPxbrli:pure046117322021-07-01046117322022-06-30046117322021-07-012022-06-30046117322020-01-01046117322021-06-30046117322020-01-012021-06-3004611732bus:SmallEntities2021-07-012022-06-3004611732bus:AuditExempt-NoAccountantsReport2021-07-012022-06-3004611732bus:FullAccounts2021-07-012022-06-3004611732bus:PrivateLimitedCompanyLtd2021-07-012022-06-3004611732core:WithinOneYear2022-06-3004611732core:AfterOneYear2022-06-3004611732core:WithinOneYear2021-06-3004611732core:AfterOneYear2021-06-3004611732core:ShareCapital2022-06-3004611732core:SharePremium2022-06-3004611732core:RevaluationReserve2022-06-3004611732core:OtherReservesSubtotal2022-06-3004611732core:RetainedEarningsAccumulatedLosses2022-06-3004611732core:ShareCapital2021-06-3004611732core:SharePremium2021-06-3004611732core:RevaluationReserve2021-06-3004611732core:OtherReservesSubtotal2021-06-3004611732core:RetainedEarningsAccumulatedLosses2021-06-3004611732core:LandBuildings2022-06-3004611732core:PlantMachinery2022-06-3004611732core:Vehicles2022-06-3004611732core:FurnitureFittings2022-06-3004611732core:OfficeEquipment2022-06-3004611732core:NetGoodwill2022-06-3004611732core:IntangibleAssetsOtherThanGoodwill2022-06-3004611732core:ListedExchangeTraded2022-06-3004611732core:UnlistedNon-exchangeTraded2022-06-3004611732core:LandBuildings2021-06-3004611732core:PlantMachinery2021-06-3004611732core:Vehicles2021-06-3004611732core:FurnitureFittings2021-06-3004611732core:OfficeEquipment2021-06-3004611732core:NetGoodwill2021-06-3004611732core:IntangibleAssetsOtherThanGoodwill2021-06-3004611732core:ListedExchangeTraded2021-06-3004611732core:UnlistedNon-exchangeTraded2021-06-3004611732core:LandBuildings2021-07-012022-06-3004611732core:PlantMachinery2021-07-012022-06-3004611732core:Vehicles2021-07-012022-06-3004611732core:FurnitureFittings2021-07-012022-06-3004611732core:OfficeEquipment2021-07-012022-06-3004611732core:NetGoodwill2021-07-012022-06-3004611732core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3004611732core:ListedExchangeTraded2021-07-012022-06-3004611732core:UnlistedNon-exchangeTraded2021-07-012022-06-3004611732core:MoreThanFiveYears2021-07-012022-06-3004611732core:Non-currentFinancialInstruments2022-06-3004611732core:Non-currentFinancialInstruments2021-06-3004611732dpl:CostSales2021-07-012022-06-3004611732dpl:DistributionCosts2021-07-012022-06-3004611732dpl:AdministrativeExpenses2021-07-012022-06-3004611732core:LandBuildings2021-07-012022-06-3004611732core:PlantMachinery2021-07-012022-06-3004611732core:Vehicles2021-07-012022-06-3004611732core:FurnitureFittings2021-07-012022-06-3004611732core:OfficeEquipment2021-07-012022-06-3004611732core:NetGoodwill2021-07-012022-06-3004611732core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3004611732dpl:GroupUndertakings2021-07-012022-06-3004611732dpl:ParticipatingInterests2021-07-012022-06-3004611732dpl:GroupUndertakingscore:ListedExchangeTraded2021-07-012022-06-3004611732core:ListedExchangeTraded2021-07-012022-06-3004611732dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-07-012022-06-3004611732core:UnlistedNon-exchangeTraded2021-07-012022-06-3004611732dpl:CostSales2020-01-012021-06-3004611732dpl:DistributionCosts2020-01-012021-06-3004611732dpl:AdministrativeExpenses2020-01-012021-06-3004611732core:LandBuildings2020-01-012021-06-3004611732core:PlantMachinery2020-01-012021-06-3004611732core:Vehicles2020-01-012021-06-3004611732core:FurnitureFittings2020-01-012021-06-3004611732core:OfficeEquipment2020-01-012021-06-3004611732core:NetGoodwill2020-01-012021-06-3004611732core:IntangibleAssetsOtherThanGoodwill2020-01-012021-06-3004611732dpl:GroupUndertakings2020-01-012021-06-3004611732dpl:ParticipatingInterests2020-01-012021-06-3004611732dpl:GroupUndertakingscore:ListedExchangeTraded2020-01-012021-06-3004611732core:ListedExchangeTraded2020-01-012021-06-3004611732dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-01-012021-06-3004611732core:UnlistedNon-exchangeTraded2020-01-012021-06-3004611732core:NetGoodwill2022-06-3004611732core:IntangibleAssetsOtherThanGoodwill2022-06-3004611732core:LandBuildings2022-06-3004611732core:PlantMachinery2022-06-3004611732core:Vehicles2022-06-3004611732core:FurnitureFittings2022-06-3004611732core:OfficeEquipment2022-06-3004611732core:AfterOneYear2022-06-3004611732core:WithinOneYear2022-06-3004611732core:ListedExchangeTraded2022-06-3004611732core:UnlistedNon-exchangeTraded2022-06-3004611732core:ShareCapital2022-06-3004611732core:SharePremium2022-06-3004611732core:RevaluationReserve2022-06-3004611732core:OtherReservesSubtotal2022-06-3004611732core:RetainedEarningsAccumulatedLosses2022-06-3004611732core:NetGoodwill2021-06-3004611732core:IntangibleAssetsOtherThanGoodwill2021-06-3004611732core:LandBuildings2021-06-3004611732core:PlantMachinery2021-06-3004611732core:Vehicles2021-06-3004611732core:FurnitureFittings2021-06-3004611732core:OfficeEquipment2021-06-3004611732core:AfterOneYear2021-06-3004611732core:WithinOneYear2021-06-3004611732core:Liste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Registered Number
04611732
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2022

BROME PROPERTIES LIMITED

Company Information
for the year from 1 July 2021 to 30 June 2022


Directors	JOHNSON, Elizabeth
	JOHNSON, Martin Bromley


Registered Address	Third Floor
	10 South Parade
	Leeds
	LS1 5QS


Registered Number	04611732 (England and Wales)

BROME PROPERTIES LIMITED

Statement of Financial Position
30 June 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	5		495		786
Investment property	6		275,000		275,000
			275,495		275,786
Current assets
Debtors	7	1,740		680
Cash at bank and on hand		982		4,967
		2,722		5,647
Creditors amounts falling due within one year	8	(281,473)		(268,312)
Net current assets (liabilities)			(278,751)		(262,665)
Total assets less current liabilities			(3,256)		13,121
Provisions for liabilities	9		(94)		(149)
Net assets			(3,350)		12,972
Capital and reserves
Called up share capital			6		6
Profit and loss account			(3,356)		12,966
Shareholders' funds			(3,350)		12,972

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 14 March 2023, and are signed on its behalf by:

JOHNSON, Martin Bromley
Director
Registered Company No. 04611732

BROME PROPERTIES LIMITED

Notes to the Financial Statements
for the year ended 30 June 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

3.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents rental income receivable for the year, net of Value Added Tax.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	5
	Office Equipment	5

	Investment property policy
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Taxation policy
	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 policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Valuation of financial instruments policy
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

4.	Employee information


		2022		2021
	Average number of employees during the year	2		2

5.	Property, plant and equipment

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 July 21	767	3,763	4,530
At 30 June 22	767	3,763	4,530
Depreciation and impairment
At 01 July 21	767	2,977	3,744
Charge for year	-	291	291
At 30 June 22	767	3,268	4,035
Net book value
At 30 June 22	-	495	495
At 30 June 21	-	786	786

6.	Investment property
	The fair value of the investment property has been determined by Martin Johnson and is made on an open market basis by reference to market evidence of transaction prices for similar properties. No depreciation is provided in respect of this property. On an historical cost basis, the property would have been included at a value of £452,566 (2021 £452,566).


		£
	Fair value at 01 July 21	275,000
	At 30 June 22	275,000

7.	Debtors

	2022	2021
	£	£
Other debtors	1,740	680
Total	1,740	680


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors within one year

	2022	2021
	£	£
Taxation and social security	408	908
Other creditors	281,065	267,404
Total	281,473	268,312


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

9.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	94	149
Total	94	149