Company registration number 14841324 (England and Wales)
BROADBADOS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 2 MAY 2023 TO 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
BROADBADOS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The following pages do not form part of the statutory financial statements
Detailed trading and profit and loss account
-
BROADBADOS LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
3
522,607
Current assets
Debtors
4
97
Cash at bank and in hand
7,531
7,628
Creditors: amounts falling due within one year
5
(531,917)
Net current liabilities
(524,289)
Net liabilities
(1,682)
Capital and reserves
Called up share capital
6
5
Profit and loss reserves
(1,687)
Total equity
(1,682)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
Mr R Stannard
Director
Company registration number 14841324 (England and Wales)
BROADBADOS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Broadbados Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 210 Upper Chobham, Camberley, United Kingdom, GU15 1HD.

1.1
Reporting period

This is the first time the company has presented its financial statements since its incorporation, hence the financial statements presented are for more than twelve months and with no comparatives.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheettrue date the company had net current liabilities of £1,682.

 

The directors consider the going concern basis to be appropriate because they are prepared to subordinate the loan due to them in favour of the other creditors and support the company for at least the ensuing twelve months, should this be necessary.

1.4
Turnover

Turnover represents amounts receivable for property rental income and is recognised in the period to which it relates.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

BROADBADOS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
2
3
Investment property
2024
£
Fair value
At 2 May 2023
-
0
Additions
522,607
At 31 May 2024
522,607

Investment property comprises a property acquired during the period.

4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
97
BROADBADOS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Other creditors
531,917
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
5
5

During the period 5 ordinary shares were issued at par value.

7
Related party transactions

Included within other creditors is £529,901 owed to the directors by the company at the balance sheet date.

BROADBADOS LTD
MANAGEMENT INFORMATION
FOR THE PERIOD FROM 2 MAY 2023 TO 31 MAY 2024
2024-05-312023-05-02false29 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMs L HughesMr R Stannardfalsefalse148413242023-05-022024-05-31148413242024-05-3114841324core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3114841324core:ShareCapital2024-05-3114841324core:RetainedEarningsAccumulatedLosses2024-05-3114841324bus:Director22023-05-022024-05-31148413242023-05-0114841324core:WithinOneYear2024-05-3114841324core:CurrentFinancialInstruments2024-05-3114841324bus:PrivateLimitedCompanyLtd2023-05-022024-05-3114841324bus:SmallCompaniesRegimeForAccounts2023-05-022024-05-3114841324bus:FRS1022023-05-022024-05-3114841324bus:AuditExemptWithAccountantsReport2023-05-022024-05-3114841324bus:Director12023-05-022024-05-3114841324bus:FullAccounts2023-05-022024-05-31xbrli:purexbrli:sharesiso4217:GBP