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COMPANY REGISTRATION NUMBER: 11638027
Broadwing (63 Selcroft Road) Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
Broadwing (63 Selcroft Road) Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
Broadwing (63 Selcroft Road) Limited
Officers and Professional Advisers
THE BOARD OF DIRECTORS
Mr I Ezekiel
Mr B F Keenan
REGISTERED OFFICE
Suite 43 Enterprise Centre
Warth Park
Michael Way
Raunds
Northants
NN9 6GR
ACCOUNTANTS
Streets
Chartered accountants
ECEN
Michael Way
Warth Park
Northamptonshire
NN9 6GR
Broadwing (63 Selcroft Road) Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Current assets
Stocks
3,805,429
Debtors
4
1,993,247
92,014
Cash at bank and in hand
1,132
9,824
------------
------------
1,994,379
3,907,267
Creditors: amounts falling due within one year
5
3,074,708
4,357,269
------------
------------
Net current liabilities
1,080,329
450,002
------------
---------
Total assets less current liabilities
( 1,080,329)
( 450,002)
------------
---------
Net liabilities
( 1,080,329)
( 450,002)
------------
---------
Capital and reserves
Profit and loss account
( 1,080,329)
( 450,002)
------------
---------
Shareholders deficit
( 1,080,329)
( 450,002)
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr I Ezekiel
Director
Company registration number: 11638027
Broadwing (63 Selcroft Road) Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 43 Enterprise Centre, Warth Park, Michael Way, Raunds, Northants, NN9 6GR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is supported by loans from its directors, bankers and other parties. These lenders have pledged their continued support to the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,956,902
Other debtors
36,345
92,014
------------
--------
1,993,247
92,014
------------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
43,016
1,747,290
Other creditors
3,031,692
2,609,979
------------
------------
3,074,708
4,357,269
------------
------------
6. Related party transactions
During the year the company made sales to its wholly owned subsidiary company, Broadwing Leasehold Selcroft Rd Limited, totalling £2,840,000. At the balance sheet date the amount due from Broadwing Leasehold Selcroft Rd Limited was £1,956,902.