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REGISTERED NUMBER: 04146424 (England and Wales)










Broomhill Garden Buildings Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023






Broomhill Garden Buildings Limited (Registered number: 04146424)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Broomhill Garden Buildings Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: M N Penny





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 04146424 (England and Wales)

Broomhill Garden Buildings Limited (Registered number: 04146424)

Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 60,673 34,370
60,673 34,370

CURRENT ASSETS
Stocks 246,353 256,566
Debtors 6 110,327 104,445
Cash at bank and in hand 295,923 411,265
652,603 772,276
CREDITORS
Amounts falling due within one year 7 (248,834 ) (276,251 )
NET CURRENT ASSETS 403,769 496,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,442

530,395

CREDITORS
Amounts falling due after more than one year 8 (1,752 ) (7,110 )

PROVISIONS FOR LIABILITIES (11,528 ) (5,696 )
NET ASSETS 451,162 517,589

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 451,062 517,489
SHAREHOLDERS' FUNDS 451,162 517,589

Broomhill Garden Buildings Limited (Registered number: 04146424)

Balance Sheet - continued
31 January 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:





M N Penny - Director


Broomhill Garden Buildings Limited (Registered number: 04146424)

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

1. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

2. ACCOUNTING POLICIES

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 company's functional and presentational currency is pound sterling.

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.

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.

AMORTIZATION
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 Straight line over 20 years

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position 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
Freehold land and buildings Straight line over 10 years
Plant and machinery 25% reducing balance
Fixtures and fittings 25% reducing balance
Motor vehicles 25% reducing balance


Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 and after eliminating sales within the company.

The company recognizes 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.

Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 252,500
AMORTISATION
At 1 February 2022
and 31 January 2023 252,500
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 20,324 4,391 31,352
Additions - - -
At 31 January 2023 20,324 4,391 31,352
DEPRECIATION
At 1 February 2022 20,324 3,441 30,163
Charge for year - 251 535
At 31 January 2023 20,324 3,692 30,698
NET BOOK VALUE
At 31 January 2023 - 699 654
At 31 January 2022 - 950 1,189

Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 51,250 5,859 113,176
Additions 40,850 3,624 44,474
At 31 January 2023 92,100 9,483 157,650
DEPRECIATION
At 1 February 2022 23,413 1,465 78,806
Charge for year 15,381 2,004 18,171
At 31 January 2023 38,794 3,469 96,977
NET BOOK VALUE
At 31 January 2023 53,306 6,014 60,673
At 31 January 2022 27,837 4,394 34,370

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,480 7,520
Other debtors 29,310 29,310
Directors' current accounts 64,924 64,211
Prepayments and accrued income 7,613 3,404
110,327 104,445

The carrying amount of trade debtors pledged as security for liabilities amounted to £5,325 (2022 - £5,325).
Within other debtors is a rental deposit, totalling £5,325, held in a bank account on behalf of the property lessor. The property lessor has registered a legal charge over the funds in this bank account in the event of any loss resulting from the company and failure to fulfill its obligations under the terms of the lease.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,025 7,365
Trade creditors 151,795 128,940
Deposits received in advance 7,520 7,520
Corporation tax liability 27,620 65,918
Social security and other tax 3,933 3,472
Pension Liability 569 -
VAT 21,328 44,829
Other creditors 26,824 14,152
Accruals and deferred income 2,220 4,055
248,834 276,251

Broomhill Garden Buildings Limited (Registered number: 04146424)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 1,752 7,110

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

10. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is NIL (2022 - NIL). As at 31 January 2023 the company had annual commitments under non-cancellable operating leases.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
M N Penny
Balance outstanding at start of year 64,211 64,211
Amounts advanced 713 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,924 64,211