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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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BRM Developments Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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BRM Developments Ltd |
BRM Developments Ltd (Registered number: 05365623) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BRM Developments Ltd |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Business Advisers |
Northgate House |
Northgate |
Sleaford |
Lincolnshire |
NG34 7BZ |
BRM Developments Ltd (Registered number: 05365623) |
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Balance Sheet |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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BRM Developments Ltd (Registered number: 05365623) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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BRM Developments Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted |
or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Going concern |
At 31 December 2016 the Company's current liabilities exceeded its current assets by £50,801 (2015: £40,837) |
within current liabilities is a loan of £28,220 (2015: £16,550), provided by director and will continue to be |
available for a period of at least 12 months. |
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On the basis described above, the directors consider it appropriate to prepare these financial statements on the |
going concern basis. |
BRM Developments Ltd (Registered number: 05365623) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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3. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Included in cost of land and buildings is freehold land of £ 170,996 (2015 - £ 170,996 ) which is not depreciated. |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Cost or valuation at 31 December 2016 is represented by: |
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£ |
Valuation in 2008 | 204,808 |
Valuation in 2014 | (215,996 | ) |
Cost | 255,506 |
244,318 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Included within the 'Other creditors' balance is the amount of £28,220 (2015: £16,550) that the company owes to |
R Burton and Mrs M Burton. |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 134,467 | 147,553 |
BRM Developments Ltd (Registered number: 05365623) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Bank loans |
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8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2016 |
and 31 December 2016 |
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9. | ULTIMATE CONTROLLING PARTY |
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R Burton and Mrs M Burton control the company by way of owning 100% of the issued share capital. |
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10. | RELATED PARTY TRANSACTIONS |
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BRM Developments Ltd is a related party to R Burton (Plumbing & Heating) Limited. |
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As at the 31 December 2016 the company owed £8,656 (2015: £8,656) to R Burton (Plumbing & Heating) |
Limited. |