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Registration number: 04137426

Broadview Windows Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Broadview Windows Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Broadview Windows Limited

Company Information

Director

T W Logan

Company secretary

M Logan

Registered office

Unit 1
The Cam Centre
Wilbury Way
Hertfordshire
United Kingdom
SG4 0TW

 

Broadview Windows Limited

(Registration number: 04137426)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

26,122

18,602

Current assets

 

Stocks

6

5,500

5,000

Debtors

7

188,927

328,175

Cash at bank and in hand

 

86,966

74,722

 

281,393

407,897

Creditors: Amounts falling due within one year

8

(174,957)

(227,644)

Net current assets

 

106,436

180,253

Total assets less current liabilities

 

132,558

198,855

Creditors: Amounts falling due after more than one year

8

(70,114)

(111,627)

Provisions for liabilities

(4,971)

(3,534)

Net assets

 

57,473

83,694

Capital and reserves

 

Called up share capital

10

10

Retained earnings

57,463

83,684

Shareholders' funds

 

57,473

83,694

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 September 2023
 

 

Broadview Windows Limited

(Registration number: 04137426)
Balance Sheet as at 31 January 2023

.........................................
T W Logan
Director

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1
The Cam Centre
Wilbury Way
Hertfordshire
United Kingdom
SG4 0TW

The principal place of business is:
Unit 8 Wedgewood Court
Wedgewood Way
Pin Green
Stevenage
Hertfordshire
SG1 4QR

These financial statements were authorised for issue by the director on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Judgements

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% straight line

Plant and Machinery

15% straight line

Computer Equipment

25% straight line

Leasehold Improvements

10% straight line

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2022

30,936

30,936

At 31 January 2023

30,936

30,936

Amortisation

At 1 February 2022

30,936

30,936

At 31 January 2023

30,936

30,936

Carrying amount

At 31 January 2023

-

-

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

19,830

2,314

34,697

8,721

65,562

Additions

-

195

13,500

417

14,112

At 31 January 2023

19,830

2,509

48,197

9,138

79,674

Depreciation

At 1 February 2022

3,566

2,207

32,696

8,491

46,960

Charge for the year

1,983

142

4,375

92

6,592

At 31 January 2023

5,549

2,349

37,071

8,583

53,552

Carrying amount

At 31 January 2023

14,281

160

11,126

555

26,122

At 31 January 2022

16,264

107

2,001

230

18,602

Included within the net book value of land and buildings above is £14,281 (2022 - £16,264) in respect of long leasehold land and buildings.
 

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Stocks

2023
£

2022
£

Stock

5,500

5,000

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

32,895

89,415

Amounts owed by related parties

153,204

236,500

Prepayments

 

2,828

2,260

   

188,927

328,175

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

41,512

39,492

Trade creditors

 

72,122

63,290

Taxation and social security

 

16,070

74,412

Accruals and deferred income

 

1,200

1,200

Other creditors

 

44,053

49,250

 

174,957

227,644

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

70,114

111,627

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

70,114

111,627

2023
£

2022
£

Current loans and borrowings

Bank borrowings

41,512

39,492

10

Share capital

Allotted, called up and fully paid shares

 

Broadview Windows Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

9

9

9

9

Ordinary B of £1 each

1

1

1

1

 

10

10

10

10

All shares rank pari passu in the event of a winding up, sale or liquidation.

11

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £1.00 (2022 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2022 - £6,200.00) per ordinary share

 

50,000

 

55,800

   

50,000

 

55,800

         

12

Parent and ultimate parent undertaking

The company's immediate parent is Broadview Holdings Limited, incorporated in England and Wales.