Company registration number 10180475 (England and Wales)
BROKER'S CHOICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
BROKER'S CHOICE LIMITED
COMPANY INFORMATION
Director
Mr R B K Verma
Secretary
Mr R B K Verma
Company number
10180475
Registered office
Accountants
David Smith & Co
7 Grosvenor Gardens
Victoria
London
SW1W 0AF
BROKER'S CHOICE LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1
1
Current assets
Debtors
5
24,625
20,444
Cash at bank and in hand
194
9
24,819
20,453
Creditors: amounts falling due within one year
6
(7,640)
(4,905)
Net current assets
17,179
15,548
Total assets less current liabilities
17,180
15,549
Creditors: amounts falling due after more than one year
7
(3,125)
(4,805)
Net assets
14,055
10,744
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
14,054
10,743
Total equity
14,055
10,744

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 September 2023
Mr R B K Verma
Director
Company Registration No. 10180475
BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

Broker's Choice Limited is a private company limited by shares incorporated in England and Wales. The registered office is .

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
One-third of cost per annum
1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 and 31 May 2023
1,095
Depreciation and impairment
At 1 June 2022 and 31 May 2023
1,094
Carrying amount
At 31 May 2023
1
At 31 May 2022
1
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
24,625
20,444
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,500
1,320
Corporation tax
5,600
3,045
Other creditors
540
540
7,640
4,905
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,125
4,805
BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
9
Related party transactions

Included within debtors is the amount of £24,625 (2022 - £20,444) owed by the director.

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