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REGISTERED NUMBER: 08441632 (England and Wales)



















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: R E C Wilson
R D King





REGISTERED OFFICE: Wilson House
Leicester Road
Ibstock
Leicestershire
LE67 6HP





REGISTERED NUMBER: 08441632 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
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 490,174 770,981
Debtors 4 615 1,851
Cash at bank and in hand 68,238 168,813
559,027 941,645
CREDITORS
Amounts falling due within one year 5 507,149 898,489
NET CURRENT ASSETS 51,878 43,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,878

43,156

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 51,858 43,136
51,878 43,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:





R E C Wilson - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 309 309
Other debtors - 185
Prepayments and accrued income 306 1,357
615 1,851

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,112 3,965
Tax 2,081 7,989
Social security and other taxes 5 -
Other creditors 480,346 862,346
Accruals and deferred income 22,605 24,189
507,149 898,489

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.