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Registration number: 08378980

Broadstone Technologies Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Broadstone Technologies Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Broadstone Technologies Limited

Company Information

Director

S V Quick

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Broadstone Technologies Limited

(Registration number: 08378980)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

8,351

11,139

Other financial assets

261,062

261,062

 

269,413

272,201

Current assets

 

Debtors

18,876

17,350

Cash at bank and in hand

 

64,830

64,771

 

83,706

82,121

Creditors: Amounts falling due within one year

(31,942)

(83,204)

Net current assets/(liabilities)

 

51,764

(1,083)

Total assets less current liabilities

 

321,177

271,118

Provisions for liabilities

(1,587)

(2,116)

Net assets

 

319,590

269,002

Capital and reserves

 

Called up share capital

1

1

Retained earnings

319,589

269,001

Shareholders' funds

 

319,590

269,002

For the financial year ending 31 March 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 6 November 2023
 

 

Broadstone Technologies Limited

(Registration number: 08378980)
Abridged Balance Sheet as at 31 March 2023

.........................................
S V Quick
Director

 

Broadstone Technologies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

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 abridged 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 abridged 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.

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.

 

Broadstone Technologies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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

Laboratory equipment

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Computer equipment

25% straight line basis

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Broadstone Technologies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

3,519

46,878

8,313

58,710

Additions

-

-

281

281

At 31 March 2023

3,519

46,878

8,594

58,991

Depreciation

At 1 April 2022

3,229

38,983

5,359

47,571

Charge for the year

74

1,934

1,061

3,069

At 31 March 2023

3,303

40,917

6,420

50,640

Carrying amount

At 31 March 2023

216

5,961

2,174

8,351

At 31 March 2022

290

7,895

2,954

11,139

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1