Company Registration No. 09160687 (England and Wales)
FIONA BROOKE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
FIONA BROOKE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FIONA BROOKE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
639
80
Investments
4
50,940
49,328
51,579
49,408
Current assets
Debtors
5
575,613
398,224
Cash at bank and in hand
296,442
428,147
872,055
826,371
Creditors: amounts falling due within one year
6
(113,990)
(112,104)
Net current assets
758,065
714,267
Total assets less current liabilities
809,644
763,675
Provisions for liabilities
(121)
(15)
Net assets
809,523
763,660
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
809,522
763,659
Total equity
809,523
763,660
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 December 2021
Miss N F Smart
Director
Company Registration No. 09160687
FIONA BROOKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 2 -
1
Accounting policies
Company information
Fiona Brooke Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has considered the effect of the Covid-19 outbreak. The outbreak has caused little disruption to the company’s business to date. The director considers it unlikely that a prolonged outbreak will cause significant disruption. Accordingly, at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business
, and
is shown net of VAT
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment
33% Straight line basis
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts
of its
tangible assets to determine whether there is any indication that those
assets
have suffered an impairment loss
.
1.7
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand and deposits held at call with banks.
FIONA BROOKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future receipts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense
.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
FIONA BROOKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 4 -
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 April 2020
9,139
Additions
741
At 31 March 2021
9,880
Depreciation and impairment
At 1 April 2020
9,059
Depreciation charged in the year
182
At 31 March 2021
9,241
Carrying amount
At 31 March 2021
639
At 31 March 2020
80
FIONA BROOKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
4
Fixed asset investments
2021
2020
£
£
Investments
50,940
49,328
Movements in fixed asset investments
Shares in group undertakings and participating interests
Other investments other than loans
Total
£
£
£
Cost or valuation
At 1 April 2020
80
49,248
49,328
Valuation changes
-
1,612
1,612
At 31 March 2021
80
50,860
50,940
Carrying amount
At 31 March 2021
80
50,860
50,940
At 31 March 2020
80
49,248
49,328
The shares in group undertakings of £80 is at cost and that the director considers no impairment is required.
The other investments of £50,860 is at fair value.
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
177,612
124,961
Other debtors
398,001
273,263
575,613
398,224
Other debtors includes an amount of £260,000 (2020: £260,000), this is an interest free loan and repayable on demand to a company that the director has
interest in.
Other debtors includes an amount of £138,001 (2020: £13,263), this is an interest free loan and repayable on demand to a company that the director has control over and a 100% interest in.
FIONA BROOKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 6 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
42,839
28,465
Corporation tax
31,825
30,162
Other taxation and social security
12,654
3,250
Other creditors
22,264
45,441
Accruals
4,408
4,786
113,990
112,104
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
121
15