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REGISTERED NUMBER: 07697342 (England and Wales)










Broadoak Electrical Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Broadoak Electrical Limited (Registered number: 07697342)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Broadoak Electrical Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr Simon Brown
Mrs Louise Brown





REGISTERED OFFICE: Ackerley House Forrester Street
Worsley
Manchester
England
M28 2JL





REGISTERED NUMBER: 07697342 (England and Wales)





ACCOUNTANTS: SKS Shacter Cohen & Bor Ltd
Chartered Accountants
31 Sackville Street
Manchester
M1 3LZ

Broadoak Electrical Limited (Registered number: 07697342)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 52,302 36,411

CURRENT ASSETS
Stocks 5,000 4,000
Debtors 6 51,245 107,916
Cash at bank 307,105 329,727
363,350 441,643
CREDITORS
Amounts falling due within one year 7 (87,817 ) (220,528 )
NET CURRENT ASSETS 275,533 221,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,835

257,526

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 327,735 257,426
SHAREHOLDERS' FUNDS 327,835 257,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 20 March 2024 and were signed on its behalf by:





Mr Simon Brown - Director


Broadoak Electrical Limited (Registered number: 07697342)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ackerley House Forrester Street
Worsley
Manchester
M28 2JL
England

2. STATEMENT OF COMPLIANCE

These 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).

3. 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.

BASIS OF PREPARATION
These 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 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 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.

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:




Broadoak Electrical Limited (Registered number: 07697342)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


Asset class Depreciation method and rate
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Office equipement 20% reducing balance

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

LEASES
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Broadoak Electrical Limited (Registered number: 07697342)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 15,250 46,975 13,136 75,361
Additions 12,757 13,050 464 26,271
At 31 January 2024 28,007 60,025 13,600 101,632
DEPRECIATION
At 1 February 2023 7,842 24,863 6,245 38,950
Charge for year 2,064 6,886 1,430 10,380
At 31 January 2024 9,906 31,749 7,675 49,330
NET BOOK VALUE
At 31 January 2024 18,101 28,276 5,925 52,302
At 31 January 2023 7,408 22,112 6,891 36,411

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,512 100,659
Other debtors 1,733 7,257
51,245 107,916

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,071 59,158
Taxation and social security 52,196 70,569
Other creditors 20,550 90,801
87,817 220,528

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary share 1 100 100

9. DIVIDENDS

2023(£) 2022(£)
Final dividend of £125.00 (2023 - £125.00) per ordinary share 12,500 12,500

Broadoak Electrical Limited (Registered number: 07697342)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. RELATED PARTY TRANSACTIONS

The company was under the control of Mr S Brown throughout the current and prior year. Mr S Brown is the managing director and majority shareholder.

During the year the company paid a dividend of £12,500 (2023: £12,500) to the shareholders.

At the balance sheet date, Mr S Brown's loan account with the company stood at £11,694 (2023: £82,132) and interest of £4,520 (2023: £5,870) was paid by the company in respect of this.

No other transactions with related parties were undertaken such as are required to be disclosed.