Broadspeed Limited
Data not obtained from trial balance AutoHide is on
Enter data in the white spaces Enter numbers as + unless indicated Current year Comparative
Units (eg £ or £000) £ include a trailing space
Company registration number 02926377
Date
Approval date of the accounts by the board 06/08/2024
Date
Date of signing on the audit/accountants report
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Simon James Empson
Or, name of secretary
Name of director signing balance sheet Simon James Empson
Address of registered office:
Address line 1 Maltings Chase
Address line 2 Bures Road
City or town Nayland
County or region Colchester
Postcode CO6 4LZ
Name of senior statutory auditor
Name of auditors/accountants
Type of firm (eg Chartered Accountants)
Address of auditors/accountants
Address line 1
Address line 2
City or town
County or region
Postcode
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 2
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
02926377
Broadspeed Limited
Report and Accounts
30 November 2023
Broadspeed Limited
Profit and Loss Account
for the year ended 30 November 2023
2023 2022
£ £
Turnover 35,568 179,679
Cost of sales (19,308) (145,654)
Gross profit 16,260 34,025
Administrative expenses (7,665) (26,171)
Operating profit 8,595 7,854
Interest payable (30,931) (17,124)
Loss before taxation (22,336) (9,270)
Tax on loss - -
Loss for the financial year (22,336) (9,270)
Broadspeed Limited
Registered number: 02926377
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 5,654 6,644
Current assets
Stocks 18,709 22,564
Creditors: amounts falling due within one year 5 (137,561) (141,979)
Net current liabilities (118,852) (119,415)
Total assets less current liabilities (113,198) (112,771)
Creditors: amounts falling due after more than one year 6 (523,288) (501,379)
Net liabilities (636,486) (614,150)
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account (638,486) (616,150)
Shareholders' funds (636,486) (614,150)
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.
Simon James Empson
Director
Approved by the board on 6 August 2024
Broadspeed Limited
Notes to the Accounts
for the year ended 30 November 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 2 -
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 252,673
At 30 November 2023 252,673
Amortisation
At 1 December 2022 252,673
At 30 November 2023 252,673
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 50,507
Additions 876
Disposals (339)
At 30 November 2023 51,044
Depreciation
At 1 December 2022 43,863
Charge for the year 1,627
On disposals (100)
At 30 November 2023 45,390
Net book value
At 30 November 2023 5,654
At 30 November 2022 6,644
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,587 29,228
Obligations under finance lease and hire purchase contracts 335 190
Trade creditors 7,574 12,465
Taxation and social security costs 398 722
Other creditors 107,667 99,374
137,561 141,979
6 Creditors: amounts falling due after one year 2023 2022
£ £
Non-equity preference shares 1,000 1,000
Creditors greater than 1yr - Share premium 199,000 199,000
Obligations under finance lease and hire purchase contracts - (5,129)
Other creditors 323,288 306,508
523,288 501,379
7 Other information
Broadspeed Limited is a private company limited by shares and incorporated in England. Its registered office is:
Maltings Chase
Bures Road
Nayland
Colchester
CO6 4LZ
Broadspeed Limited 02926377 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Simon James Empson No description of principal activity 02926377 2021-12-01 2022-11-30 02926377 core:WithinOneYear 2022-11-30 02926377 core:AfterOneYear 2022-11-30 02926377 core:ShareCapital 2022-11-30 02926377 core:RetainedEarningsAccumulatedLosses 2022-11-30 02926377 2022-12-01 2023-11-30 02926377 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02926377 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02926377 bus:Director40 2022-12-01 2023-11-30 02926377 1 2022-12-01 2023-11-30 02926377 2 2022-12-01 2023-11-30 02926377 core:PlantMachinery 2022-12-01 2023-11-30 02926377 countries:England 2022-12-01 2023-11-30 02926377 bus:FRS102 2022-12-01 2023-11-30 02926377 bus:FilletedAccounts 2022-12-01 2023-11-30 02926377 2023-11-30 02926377 core:WithinOneYear 2023-11-30 02926377 core:AfterOneYear 2023-11-30 02926377 core:ShareCapital 2023-11-30 02926377 core:RetainedEarningsAccumulatedLosses 2023-11-30 02926377 core:Goodwill 2023-11-30 02926377 core:PlantMachinery 2023-11-30 02926377 2022-11-30 02926377 core:Goodwill 2022-11-30 02926377 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure