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REGISTERED NUMBER: 03511625 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TARGET BROOMHILL LIMITED

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TARGET BROOMHILL LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: K A Okines
J E J Tweddle
A W R E Okines
A F C Okines





SECRETARY: Company Secretaries Limited





REGISTERED OFFICE: 5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 03511625 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 360,001 540,001

CURRENT ASSETS
Debtors 6 7,270 8,545
Cash at bank 84,220 11,049
91,490 19,594
CREDITORS
Amounts falling due within one year 7 62,290 5,919
NET CURRENT ASSETS 29,200 13,675
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,201

553,676

CREDITORS
Amounts falling due after more than one year 8 - (170,000 )

PROVISIONS FOR LIABILITIES 9 - (10,400 )
NET ASSETS 389,201 373,276

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 52,028 136,651
Retained earnings 10 337,073 236,525
SHAREHOLDERS' FUNDS 389,201 373,276

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





K A Okines - Director


TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Target Broomhill 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including explanations of future events that are believed to be reasonable under the circumstances.

Key accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are the fair value of investment properties..

Revenue
Revenue is the total amount receivable in the ordinary course of business for property and related income, excluding value added tax. Property and related income principally comprises rental income.

Rental income is recognised on a straight line basis over the lease term.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fittings & equipment - at varying rates on cost

Investment properties, which consist of freehold and long leasehold residential properties, are initially measured at transaction price and subsequently carried at fair value.

Fair value is determined by the directors taking account of current market conditions and gross rental yields on a vacant possession basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it only has basic financial instruments.

a) Basic financial assets

Debtors and bank balances are initially measured at transaction price and subsequently carried at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A financial asset is derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

b) Basic financial liabilities

Creditors are initially recognised at transaction price and subsequently carried at amortised cost, being the transaction price less any amounts settled.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Furniture,
Investment fittings
property & equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 540,000 9,482 549,482
Disposals (190,000 ) (5,701 ) (195,701 )
Revaluations 10,000 - 10,000
At 31 March 2024 360,000 3,781 363,781
DEPRECIATION
At 1 April 2023 - 9,481 9,481
Eliminated on disposal - (5,701 ) (5,701 )
At 31 March 2024 - 3,780 3,780
NET BOOK VALUE
At 31 March 2024 360,000 1 360,001
At 31 March 2023 540,000 1 540,001

Cost or valuation at 31 March 2024 is represented by:

Furniture,
Investment fittings
property & equipment Totals
£    £    £   
Valuation in 2024 52,029 - 52,029
Cost 307,971 3,781 311,752
360,000 3,781 363,781

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 307,971 392,948

Investment properties were valued on a vacant possession basis on 31 March 2024 by the directors .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Prepayments and accrued income 2,412 3,687

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Rent deposit 4,858 4,858

Aggregate amounts 7,270 8,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 12,621 139
Social security and other taxes 1,982 2,040
Directors' current accounts 45,000 -
Accruals 2,687 3,740
62,290 5,919

The directors' loans amounting to £45,000 are repayable on 1 April 2019, or later by mutual agreement. These loans are unsecured and bear interest at 2.5% pa unless varied or waived.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loans - 2-5 years - 170,000

The directors' loans amounting to £170,000 are repayable on 1 April 2019, or later by mutual agreement. These loans are unsecured and bear interest at 2.5% pa unless varied or waived.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 10,400

Deferred
tax
£   
Balance at 1 April 2023 10,400
Credit to Income Statement during year (10,400 )
Balance at 31 March 2024 -

TARGET BROOMHILL LIMITED (REGISTERED NUMBER: 03511625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 236,525 136,651 373,176
Profit for the year 15,925 - 15,925
Revaluation of investment properties (10,000 ) 10,000 -
Realisation of
investment property 94,623 (94,623 ) -
At 31 March 2024 337,073 52,028 389,101