Registered number
11700037
BROADGATE LTD
Filleted Accounts
26 May 2023
BROADGATE LTD
Registered number: 11700037
Balance Sheet
as at 26 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 919,518 625,374
Current assets
Cash at bank and in hand 15,556 31,933
Creditors: amounts falling due within one year 5 (2,220) (1,020)
Net current assets 13,336 30,913
Total assets less current liabilities 932,854 656,287
Creditors: amounts falling due after more than one year 6 (932,654) (652,500)
Net assets 200 3,787
Capital and reserves
Called up share capital 200 200
Profit and loss account - 3,587
Shareholders' funds 200 3,787
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Faizan Afzal
Director
Approved by the board on 23 February 2024
BROADGATE LTD
Notes to the Accounts
for the year ended 26 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
FA - Land and Buildings over 50 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 27 May 2022 625,374
Additions 294,144
At 26 May 2023 919,518
Depreciation
At 26 May 2023 -
Net book value
At 26 May 2023 919,518
At 26 May 2022 625,374
4 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Revaluation gain - 21,103
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 2,220 1,020
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 692,631 482,651
Other creditors 240,023 169,849
932,654 652,500
7 Controlling party
The directors control the company.
8 Other information
BROADGATE LTD is a private company limited by shares and incorporated in England. Its registered office is:
76 Montague Street
Basildon
United Kingdom
SS14 3JG
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