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BROAD FORD INVESTMENTS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Broad Ford Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12109009. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of a nominee.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.
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Functional and presentation currency
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The company's functional and presentational currency is pound sterling.
The director is of the opinion, on the basis of information and enquiries that are pertinent to the company’s circumstances and which he believes to be adequate, it is appropriate to continue to treat the company as a going concern. In particular he believes that adequate cash resources will be available to cover the company’s requirements for working capital for at least fourteen months from the date of signing the financial statements.
Interest income is recognised in profit or loss using the effective interest method.
Short-term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors and loans with related parties.
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The average monthly number of employees, including the director, during the year was 1 (2022 - 1).
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