IRIS Accounts Production v19.1.0.729 08175829 director 1.8.17 31.7.18 31.7.18 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 08175829 2017-07-31 08175829 2018-07-31 08175829 2017-08-01 2018-07-31 08175829 2016-07-31 08175829 2016-08-01 2017-07-31 08175829 2017-07-31 08175829 ns15:EnglandWales 2017-08-01 2018-07-31 08175829 ns14:PoundSterling 2017-08-01 2018-07-31 08175829 ns10:Director1 2017-08-01 2018-07-31 08175829 ns10:PrivateLimitedCompanyLtd 2017-08-01 2018-07-31 08175829 ns10:SmallEntities 2017-08-01 2018-07-31 08175829 ns10:AuditExempt-NoAccountantsReport 2017-08-01 2018-07-31 08175829 ns10:SmallCompaniesRegimeForDirectorsReport 2017-08-01 2018-07-31 08175829 ns10:SmallCompaniesRegimeForAccounts 2017-08-01 2018-07-31 08175829 ns10:FullAccounts 2017-08-01 2018-07-31 08175829 ns10:CompanySecretary1 2017-08-01 2018-07-31 08175829 ns10:RegisteredOffice 2017-08-01 2018-07-31 08175829 ns5:CurrentFinancialInstruments 2018-07-31 08175829 ns5:CurrentFinancialInstruments 2017-07-31 08175829 ns5:Non-currentFinancialInstruments 2018-07-31 08175829 ns5:Non-currentFinancialInstruments 2017-07-31 08175829 ns5:ShareCapital 2018-07-31 08175829 ns5:ShareCapital 2017-07-31 08175829 ns5:RevaluationReserve 2018-07-31 08175829 ns5:RevaluationReserve 2017-07-31 08175829 ns5:RetainedEarningsAccumulatedLosses 2018-07-31 08175829 ns5:RetainedEarningsAccumulatedLosses 2017-07-31 08175829 ns5:PlantMachinery 2017-08-01 2018-07-31 08175829 ns5:PlantMachinery 2017-07-31 08175829 ns5:PlantMachinery 2018-07-31 08175829 ns5:PlantMachinery 2017-07-31 08175829 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2017-07-31 08175829 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2017-08-01 2018-07-31 08175829 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2018-07-31 08175829 ns5:PlantMachinery ns5:LeasedAssetsHeldAsLessee 2017-07-31 08175829 ns5:AdditionsToInvestments 2018-07-31 08175829 ns5:CostValuation 2018-07-31 08175829 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2018-07-31 08175829 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2017-07-31 08175829 ns5:Secured 2018-07-31 08175829 ns5:Secured 2017-07-31 08175829 ns5:RetainedEarningsAccumulatedLosses 2017-07-31 08175829 ns5:RevaluationReserve 2017-07-31 08175829 ns5:RetainedEarningsAccumulatedLosses 2017-08-01 2018-07-31 08175829 1 2017-08-01 2018-07-31


REGISTERED NUMBER: 08175829 (England and Wales)















Maybrook Investments Limited

Unaudited Financial Statements

for the Year Ended 31 July 2018






Maybrook Investments Limited (Registered number: 08175829)






Contents of the Financial Statements
for the year ended 31 July 2018




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 10


Maybrook Investments Limited

Company Information
for the year ended 31 July 2018







DIRECTOR: P B G O'Dowd





SECRETARY: Pinfield Secretaries Limited





REGISTERED OFFICE: Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN





REGISTERED NUMBER: 08175829 (England and Wales)





ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN

Maybrook Investments Limited (Registered number: 08175829)

Balance Sheet
31 July 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 333,062 108,911
Investments 5 981,597 -
Investment property 6 4,975,000 4,555,000
6,289,659 4,663,911

CURRENT ASSETS
Debtors 7 811,735 439,816
Cash at bank 306,836 84,772
1,118,571 524,588
CREDITORS
Amounts falling due within one year 8 418,226 342,052
NET CURRENT ASSETS 700,345 182,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,990,004

4,846,447

CREDITORS
Amounts falling due after more than one
year

9

(4,598,296

)

(2,506,715

)

PROVISIONS FOR LIABILITIES (386,756 ) (339,173 )
NET ASSETS 2,004,952 2,000,559

CAPITAL AND RESERVES
Called up share capital 100 100
Investment property revaluation reserve 11 2,016,273 1,674,088
Retained earnings 11 (11,421 ) 326,371
SHAREHOLDERS' FUNDS 2,004,952 2,000,559

Maybrook Investments Limited (Registered number: 08175829)

Balance Sheet - continued
31 July 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 April 2019 and were signed by:





P B G O'Dowd - Director


Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements
for the year ended 31 July 2018

1. STATUTORY INFORMATION

Maybrook Investments Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £1.

The company's business address is Redclyffe, Mere Road, Newton Le Willows, WA12 0BH.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Maybrook Investments Limited as an individual
company and do not contain consolidated financial information as the parent of a group. The company
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare
consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose
related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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.

Financial instruments
Basic financial instruments are recognised at amortised cost.


Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is
the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period
of the lease.

Going concern basis of accounting
The accounts have been prepared on the assumption that the company is able to carry on business as a
going concern, which the director considers appropriate having regard to the circumstances outlined
in a note to the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2017 229,168
Additions 299,334
At 31 July 2018 528,502
DEPRECIATION
At 1 August 2017 120,257
Charge for year 75,183
At 31 July 2018 195,440
NET BOOK VALUE
At 31 July 2018 333,062
At 31 July 2017 108,911

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2017 200,027
Additions 90,000
At 31 July 2018 290,027
DEPRECIATION
At 1 August 2017 102,452
Charge for year 31,893
At 31 July 2018 134,345
NET BOOK VALUE
At 31 July 2018 155,682
At 31 July 2017 97,575

Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 981,597
At 31 July 2018 981,597
NET BOOK VALUE
At 31 July 2018 981,597

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2017 4,555,000
Revaluations 420,000
At 31 July 2018 4,975,000
NET BOOK VALUE
At 31 July 2018 4,975,000
At 31 July 2017 4,555,000

Fair value at 31 July 2018 is represented by:

£   
Valuation in 2012 2,803,577
Valuation in 2014 1,751,423
Valuation in 2018 420,000
4,975,000

If investment properties had not been revalued they would have been included at the following
historical cost:

2018 2017
£    £   
Cost 2,538,612 2,538,612

Investment properties were valued on an open market basis on 31 July 2018 by the director .

Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

6. INVESTMENT PROPERTY - continued

The director considers his valuations to appropriate having considered two professional valuations
performed on two properties by a qualified RICS registered valuer on 19th April 2018 for the
purposes of bank security.

Two further properties have been revalued by the director based on his knowledge of the properties
and historical valuations carried out in 2014 by Lambert Smith Hampton.

The investment properties revalued on 19th April have been included at values based upon their sale
subject to the existing tenancies with short notice less than 180 days and directors valuations.

If the properties had been included at open market value with vacant possession, then the valuation
would increase by a further £500,000.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 322,323 405,612
Amounts owed by group undertakings 306,860 -
Amounts owed by associates 148,152 34,204
Other debtors 34,400 -
811,735 439,816

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts - 93,968
Hire purchase contracts 82,785 107,949
Trade creditors 3,630 1,182
Amounts owed to associates - 1,350
Taxation and social security 131,747 108,184
Other creditors 200,064 29,419
418,226 342,052

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2018 2017
£    £   
Bank loans 4,410,000 2,013,192
Hire purchase contracts 188,296 132,269
Other creditors - 361,254
4,598,296 2,506,715

Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2018 2017
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,140,607 1,604,618

10. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 4,410,000 2,107,160
Hire purchase contracts 271,081 240,218
4,681,081 2,347,378

The bank loans are secured by fixed charges over the investment properties and also floating charges
over all the assets of the company dated 18 June 2018.

The hire purchase liabilities are secured over the assets concerned.

11. RESERVES
Investment
property
Retained revaluation
earnings reserve Totals
£    £    £   

At 1 August 2017 326,371 1,674,088 2,000,459
Profit for the year 4,393 4,393
Reserve transfer deferred
taxation

77,815

(77,815

)

-

Fair value change in year (420,000 ) 420,000 -
At 31 July 2018 (11,421 ) 2,016,273 2,004,852

A transfer from the retained earnings reserve has been made to reflect the adjustments in the fair value
recognised in the income statement during the year.

A further reserve transfer has been made in respect of the deferred taxation charge on the investment
properties as a result of changes in indexation and the corporation tax rate enacted at the date of the
balance sheet.

12. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £Nil (2017 £2,194).

Maybrook Investments Limited (Registered number: 08175829)

Notes to the Financial Statements - continued
for the year ended 31 July 2018

13. OFF-BALANCE SHEET ARRANGEMENTS

The company has entered into joint securitisation arrangements with Bryn Coch Limited, in respect of
the bank loans included in this company.

14. POST BALANCE SHEET EVENTS

After the year end, on 4th October 2018 the company entered into a contract to purchase a property
for a value of £3,600,000 (exclusive of VAT).

It also entered into a contract on 4th October 2018 to purchase all the shares in Maybrook
Developments (Appley Bridge) Ltd for £2,450,000. This company also contains property.

Two new mortgage advances with a total gross advance of £3,650,000 were obtained to facilitate
these purchases.

15. GOING CONCERN

The company will continue to receive full support from its director. As a result the going concern
basis of accounting has been adopted.