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REGISTERED NUMBER: 12715600 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BROOMFIELD ELECTRICAL SERVICES TRADE LTD

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BROOMFIELD ELECTRICAL SERVICES TRADE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr P D Broomfield
Mrs G L Broomfield





SECRETARY: Mrs G L Broomfield





REGISTERED OFFICE: 38 Baines Road
GAINSBOROUGH
Lincolnshire
DN21 1TA





REGISTERED NUMBER: 12715600 (England and Wales)





ACCOUNTANTS: Rigel Wolf Ltd
Orion House
28A Spital Terrace
GAINSBOROUGH
Lincolnshire
DN21 2HQ

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,078 28,908

CURRENT ASSETS
Stocks 48,038 25,950
Debtors 5 77,313 82,087
Cash at bank 8,131 38,228
133,482 146,265
CREDITORS
Amounts falling due within one year 6 37,486 59,048
NET CURRENT ASSETS 95,996 87,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,074

116,125

PROVISIONS FOR LIABILITIES 7 6,665 4,542
NET ASSETS 129,409 111,583

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 129,309 111,483
SHAREHOLDERS' FUNDS 129,409 111,583

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

BALANCE SHEET - continued
31 JULY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:




Mr P D Broomfield - Director



Mrs G L Broomfield - Director


BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Broomfield Electrical Services Trade Ltd 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.

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.

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.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment
£    £    £   
COST
At 1 August 2022 5,000 5,833 1,406
Additions - 5,059 -
Disposals - - -
At 31 July 2023 5,000 10,892 1,406
DEPRECIATION
At 1 August 2022 - 1,675 280
Charge for year - 1,952 226
Eliminated on disposal - - -
At 31 July 2023 - 3,627 506
NET BOOK VALUE
At 31 July 2023 5,000 7,265 900
At 31 July 2022 5,000 4,158 1,126

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 30,793 1,737 44,769
Additions 23,995 911 29,965
Disposals (13,593 ) - (13,593 )
At 31 July 2023 41,195 2,648 61,141
DEPRECIATION
At 1 August 2022 13,472 434 15,861
Charge for year 8,418 553 11,149
Eliminated on disposal (5,947 ) - (5,947 )
At 31 July 2023 15,943 987 21,063
NET BOOK VALUE
At 31 July 2023 25,252 1,661 40,078
At 31 July 2022 17,321 1,303 28,908

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 74,985 81,948
Prepayments and accrued income 2,328 139
77,313 82,087

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 7,768 9,396
Tax 14,534 24,975
Social security and other taxes 1,042 1,645
VAT 11,049 21,433
Other creditors 681 344
Directors' current accounts 1,638 569
Accruals and deferred income 774 686
37,486 59,048

7. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 6,665 4,542

Deferred
tax
£   
Balance at 1 August 2022 4,542
Accelerated capital allowances 2,123
Balance at 31 July 2023 6,665

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 August 2022 111,483
Profit for the year 72,826
Dividends (55,000 )
At 31 July 2023 129,309

BROOMFIELD ELECTRICAL SERVICES TRADE LTD (REGISTERED NUMBER: 12715600)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company was under the control of Mr P D Broomfield and Mrs G L Broomfield throughout the year.

During the year, Mr P D Broomfield and Mrs G L Broomfield charged the company £312 (2022 - £312) for use of home as office.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £55,000 (2022 - £75,000) were paid to the directors .

At 31 July 2023 there was a balance owing to the directors, Mr P D Broomfield and Mrs G L Broomfield, of £1,638 (2022 - £569).

This balance has been shown in Creditors.