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REGISTERED NUMBER: 11687145 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BROUGHTON-HALL DEVELOPMENTS LIMITED

BROUGHTON-HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11687145)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BROUGHTON-HALL DEVELOPMENTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Mrs J Broughton-Hall
Mr P W Broughton-Hall
Mr G P Broughton-Hall





REGISTERED OFFICE: Mill Lane
Gilmorton
Leicestershire
LE17 5PB





REGISTERED NUMBER: 11687145 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ

BROUGHTON-HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11687145)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 1,267,602 2,150,000
Debtors 4 413,344 427,010
Cash at bank 229,235 486,355
1,910,181 3,063,365
CREDITORS
Amounts falling due within one year 5 (741,651 ) (2,459,964 )
NET CURRENT ASSETS 1,168,530 603,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,168,530

603,401

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,167,530 602,401
1,168,530 603,401

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





Mr G P Broughton-Hall - Director


BROUGHTON-HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11687145)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Broughton-Hall Developments Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Mill Lane, Gilmorton, Leicestershire, England, LE17 5PB and the registered number is 11687145.

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.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2021.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BROUGHTON-HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11687145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract 402,000 400,000
Other debtors 11,344 27,010
413,344 427,010

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,199 191,681
Amounts owed to participating interests 91,519 251,571
Taxation and social security 136,030 135,879
Other creditors 457,903 1,880,833
741,651 2,459,964

BROUGHTON-HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11687145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


6. FIRST YEAR ADOPTION

These financial statements are the company's first financial statements that comply with FRS 102. The date of transition to FRS 102 was 1 April 2021. There were no material adjustments arising as a result of the change of financial reporting standard and therefore there has been no restatement of any comparative figures.