REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Broadway Homes (Cambridge) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Broadway Homes (Cambridge) Limited |
Broadway Homes (Cambridge) Limited (Registered number: 08441632) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Broadway Homes (Cambridge) Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Broadway Homes (Cambridge) Limited (Registered number: 08441632) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Broadway Homes (Cambridge) Limited (Registered number: 08441632) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Broadway Homes (Cambridge) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover and profit on sales of residential properties and land sales are included within the financial statements where legal completion has taken place by the end of the financial period. |
Sales of part exchange properties are not included in turnover. The profit or loss on disposal of these properties is included within cost of sales. |
Stocks |
The cost of work in progress includes direct costs, Where necessary, provisions are made against work in progress to value it at the lower of cost and net realisable value. Net realisable value is based on normal selling prices less further costs expected to be incurred on completion and disposal. |
Investments in sites where planning has not yet been granted are initially included at cost. Regular reviews for impairment are performed considering the existing use value of the site and likelihood of obtaining planning permission. Provisions are made against cost where necessary. |
Direct pre-development costs have been recognised as an asset in stocks and work in progress. Where it is probable that the site will be developed and provided that in accordance with FRS102, such costs meet the definition of an asset. Such costs are reviewed regularly for evidence of impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Broadway Homes (Cambridge) Limited (Registered number: 08441632) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
6. | RELATED PARTY DISCLOSURES |
In prior years shareholders loaned amounts to the company. During the year repayments of £380,000 (2022: £1,507,385) were made in relation to these loans. At the year end the company owed the shareholders £480,346 (2022: £860,346) which is included in other creditors. The outstanding loan is interest free. |