|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 May 2018 |
|
for |
|
Bromleigh House Ltd |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 May 2018 |
|
for |
|
Bromleigh House Ltd |
Bromleigh House Ltd (Registered number: 05234233) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 May 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Bromleigh House Ltd |
|
Company Information |
for the Year Ended 31 May 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
Bromleigh House Ltd (Registered number: 05234233) |
|
Balance Sheet |
31 May 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
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 on
by: |
|
|
|
|
|
|
|
Bromleigh House Ltd (Registered number: 05234233) |
|
Notes to the Financial Statements |
for the Year Ended 31 May 2018 |
|
1. | STATUTORY INFORMATION |
|
Bromleigh House Ltd is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value and is recognised in respect of the magazines sold in the year by |
reference to the date on which magazines go on sale. |
|
Tangible fixed assets |
|
Website and software | - |
|
Fixtures and fittings | - |
|
|
Fixed assets are stated at their cost prices, less accumulated depreciation. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
|
Stock is valued on a first in first out basis and is calculated with reference to magazines which have been |
printed, but which have not yet gone on sale. |
|
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. |
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
|
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual |
arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that |
evidences a residual interest in the assets of the company, after deducting all liabilities. |
Bromleigh House Ltd (Registered number: 05234233) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
|
2. | ACCOUNTING POLICIES - continued |
|
Employer-financed retirement benefit scheme (efrbs) |
The company has established trusts for the benefit of employees and persons connected with them. Monies held |
in these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to |
provide both retirement and other employee benefits. |
|
Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of |
the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an |
allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust |
vest in identified individuals. |
|
Where monies held in a trust are determined by the company on the basis of employees’ past services to the |
business and the company can obtain no future economic benefit from those monies, such monies, whether in |
the trust or accrued for by the company are charged to the profit and loss account in the period to which they |
relate. |
|
Where monies held in a trust are determined by the company on the basis of employees’ past services to the |
business and are payable after completion of the employment, such monies are charged to the profit and loss |
account in the period during which services are rendered by employees. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Website | Fixtures |
Freehold | and | and |
property | software | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2017 |
|
|
|
|
Additions |
|
|
|
|
At 31 May 2018 |
|
|
|
|
DEPRECIATION |
At 1 June 2017 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 May 2018 |
|
|
|
|
NET BOOK VALUE |
At 31 May 2018 |
|
|
|
|
At 31 May 2017 |
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
. |
Bromleigh House Ltd (Registered number: 05234233) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | OTHER FINANCIAL COMMITMENTS |
|
The company has total financial commitments payable under non-cancellable operating leases of £2,817 |
(2017 - £2,817). |
|
8. | 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 |
£ | £ |
|
Balance outstanding at start of year |
|
( |
) |
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
The balance due from the directors are included within other debtors and amounts due to the directors are |
included within other creditors. |
|
The loans are repayable on demand and interest is not being charged. |
|
9. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £476,000 (2017 - £272,680) were paid to the directors . |
Bromleigh House Ltd (Registered number: 05234233) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
|
9. | RELATED PARTY DISCLOSURES - continued |
|
Directors' Remuneration |
|
The directors' aggregate remuneration in respect of qualifying services was: £213,959 (2017 - £19,042). |
|
Transactions with the directors: |
|
Amounts advanced by the company to the directors - £539,286 ( 2017 - £914,771). |
|
Amounts repaid to the company by the directors - £476,000 (2017 - £644,315). |
|
Balances owing to the company by the directors at the balance sheet date - £324,849 (2017 - £261,563). |
|
|
Companies in which the directors are shareholders: |
|
Beachcomber Magazines Limited |
|
Balance owed by Beachcomber Magazines Limited to Bromleigh House Limited at the balance sheet date - |
£324,838 (2017 - £342,108). |
|
Transactions are undertaken at normal market rate, the loan is repayable on demand and interest has not been |
charged. |
SRP Media Limited |
|
Balance owed by Bromleigh House Limited to SRP Media Limited at the balance sheet date - £761,548 (2017 - |
£600,561). |
|
Transactions are undertaken at normal market rate, the loans are repayable on demand and interest has not |
been charged. |