REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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BROCOCK LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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BROCOCK LIMITED |
BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Statement of Financial Position | 1 | to | 2 |
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Notes to the Financial Statements | 3 | to | 7 |
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BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2019 |
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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 and authorised for issue on
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BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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BROCOCK LIMITED is a
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company's registered number and registered office address are as below: |
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Registered number: | 08783909 |
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Registered office: | C/O DPC |
Stone House, Stone Road Business Park |
Stone Road |
Stoke-On-Trent |
Staffordshire |
ST4 6SR |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, |
estimates and assumptions that affect the amounts reported. These estimates and judgements |
are continually reviewed and are based on experience and other factors, including expectations |
of future events that are believed to be reasonable under the circumstances. |
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(a) Critical accounting estimates and assumptions |
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The company makes estimates and assumptions concerning the future. The resulting accounting |
estimates will, by definition, seldom equal the related actual results. The estimates and assumptions |
that have a significant risk of causing a material adjustment to the carrying amounts of assets and |
liabilities within the next financial year are addressed below. |
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(i) Useful economic lives of tangible assets |
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The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful |
economic lives and residual values of the assets. The useful economic lives and residual values are |
re-assessed annually. They are amended when necessary to reflect current estimates, based on |
technological advancement, future investments, economic utilisation and physical condition of the |
assets. See fixes assets note for the carrying amount of the assets and the accounting policy for the |
useful economic lives for each class of assets. |
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Revenue recognition |
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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Goodwill |
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BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Intangible assets are initially recorded at cost, and are subsequently stated at cost less any |
accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, |
are recorded at the fair value at the date of revaluation, as determined by reference to an active |
market, less any subsequent accumulated amortisation and subsequent accumulated impairment |
losses. |
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Intangible assets acquired as part of a business combination are recorded at the fair value at the |
acquisition date. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at |
fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent |
accumulated impairment losses. |
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An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other |
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation |
decrease of the same asset previously recognised in other comprehensive income to the extent of any |
previously recognised revaluation increase accumulated in equity in respect of that asset. Where a |
revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of |
that asset, the excess shall be recognised in profit or loss. |
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Impairment of Fixed Assets |
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A review for indicators of impairment is carried out at each reporting date, with recoverable amount |
being estimated where such indicators exist. Where the carrying value exceeds the recoverable |
amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at |
each reporting date. |
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For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an |
individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which |
the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes |
the asset and generates cash inflows that largely independent of the cash inflows from other assets or |
group of assets. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the |
contractual provisions of the instrument. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
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Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
impairment at the end of each reporting date. If there is objective evidence of impairment, an |
impairment loss is recognised in profit or loss immediately. |
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For all equity instruments regardless of significance, and other financial assets that are individually |
significant, these are assessed individually for impairment. Other financial assets are either assessed |
individually or grouped on the basis of similar credit risk characteristics. |
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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 have been |
enacted or substantively enacted by the statement of financial position 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 statement of financial position 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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Research and development |
Expenditure on research and development is written off in the period in which it is incurred. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Development |
Goodwill | costs | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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AMORTISATION |
At 1 January 2019 |
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Amortisation for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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BROCOCK LIMITED (REGISTERED NUMBER: 08783909) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Amounts owed to group undertakings |
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9. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of the exemption from the disclosures required by paragraph |
33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies. |
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10. | POST BALANCE SHEET EVENTS |
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There was no material events up to the date of approval of the financial statements by the board. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is a subsidiary of Diana Immobiliare SRL. |