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COMPANY REGISTRATION NUMBER: 04005763
Broadview Developments Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Broadview Developments Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
602,557
558,371
Current assets
Stocks
449,299
Debtors
6
7,498
844
Cash at bank and in hand
117,246
14,327
---------
---------
124,744
464,470
Creditors: amounts falling due within one year
7
7,906
16,078
---------
---------
Net current assets
116,838
448,392
---------
------------
Total assets less current liabilities
719,395
1,006,763
Creditors: amounts falling due after more than one year
8
261,468
Provisions
Taxation including deferred tax
61,534
55,874
---------
------------
Net assets
657,861
689,421
---------
------------
Capital and reserves
Called up share capital
1
1
Non-distributable reserves
276,219
276,219
Profit and loss account
381,641
413,201
---------
---------
Shareholder funds
657,861
689,421
---------
---------
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 comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Broadview Developments Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr A P Gardiner
Director
Company registration number: 04005763
Broadview Developments Limited
Notes to the Financial Statements
Year ended 30 November 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 8 High Ditch Road, Fen Ditton, Cambridge, CB5 8TE.
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 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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment properties are shown at their fair value. The surplus or deficit arising from the annual revaluation is recognised through the profit and loss account for the year with any unrealised gains or losses at the balance sheet date being subsequently transferred to a separate non-distributable reserve.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Work in progress
Speculative work in progress has been stated at the lower of cost and net realisable value. Cost includes all direct costs plus a proportion of attributable overheads based upon a normal level of activity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2022
550,000
5,275
2,886
22,331
580,492
Additions
8,070
44,199
52,269
---------
--------
-------
--------
---------
At 30 November 2023
550,000
13,345
2,886
66,530
632,761
---------
--------
-------
--------
---------
Depreciation
At 1 December 2022
4,518
2,534
15,069
22,121
Charge for the year
1,538
126
6,419
8,083
---------
--------
-------
--------
---------
At 30 November 2023
6,056
2,660
21,488
30,204
---------
--------
-------
--------
---------
Carrying amount
At 30 November 2023
550,000
7,289
226
45,042
602,557
---------
--------
-------
--------
---------
At 30 November 2022
550,000
757
352
7,262
558,371
---------
--------
-------
--------
---------
The historical cost of the land and buildings is £220,000 (2022: £220,000).
6. Debtors
2023
2022
£
£
Other debtors
7,498
844
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,453
Social security and other taxes
1,431
13,534
Other creditors
3,022
2,544
-------
--------
7,906
16,078
-------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
261,468
----
---------
9. Director's advances, credits and guarantees
During the year the company made advances to the director. Interest has been charged at the official HMRC rate on any overdrawn loan account balances greater than £10,000. There are no repayment terms.
2023 2022
£ £
Advances 7,052
Amounts due from director 7,052