Registered number
10661864
The One Broadway Limited
Filleted Accounts
31 March 2023
The One Broadway Limited
Registered number: 10661864
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 45,954 51,581
Current assets
Stocks 4,500 3,500
Debtors 4 9,500 9,500
Cash at bank and in hand 60,789 115,015
74,789 128,015
Creditors: amounts falling due within one year 5 (19,589) (44,828)
Net current assets 55,200 83,187
Total assets less current liabilities 101,154 134,768
Creditors: amounts falling due after more than one year 6 (29,687) (39,689)
Net assets 71,467 95,079
Capital and reserves
Called up share capital 100 100
Profit and loss account 71,367 94,979
Shareholder's funds 71,467 95,079
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Turkan Toprak
Director
Approved by the board on 31 May 2023
The One Broadway Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 20,850 46,776 67,626
Additions - 649 649
At 31 March 2023 20,850 47,425 68,275
Depreciation
At 1 April 2022 - 16,045 16,045
Charge for the year - 6,276 6,276
At 31 March 2023 - 22,321 22,321
Net book value
At 31 March 2023 20,850 25,104 45,954
At 31 March 2022 20,850 30,731 51,581
4 Debtors 2023 2022
£ £
Other debtors 9,500 9,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,489 13,560
Taxation and social security costs 6,100 26,268
Other creditors - 5,000
19,589 44,828
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,687 39,689
7 Controlling party
The company is under the control of its own director & shareholder, Turkan Toprak.
8 Other information
The One Broadway Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Broadway Market
London
E8 4PH
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