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Registered number: 01233915
D. Broadhurst Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Engage Accountancy Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01233915
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 304,685 264,413
Investment Properties 5 3,450,971 3,450,971
3,755,656 3,715,384
CURRENT ASSETS
Debtors 6 1,921,200 1,937,508
Cash at bank and in hand 139,788 24,691
2,060,988 1,962,199
Creditors: Amounts Falling Due Within One Year 7 (1,122,036 ) (1,243,677 )
NET CURRENT ASSETS (LIABILITIES) 938,952 718,522
TOTAL ASSETS LESS CURRENT LIABILITIES 4,694,608 4,433,906
Creditors: Amounts Falling Due After More Than One Year 8 (70,403 ) (92,535 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,954 ) (61,476 )
NET ASSETS 4,536,251 4,279,895
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 4,536,151 4,279,795
SHAREHOLDERS' FUNDS 4,536,251 4,279,895
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Katie Evans
Director
04/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
D. Broadhurst Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01233915 . The registered office is Office Block 1 Prothero Works, Bilport Lane, Wednesbury, West Midlands, WS10 0NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rental income and from the rendering of services.
Rental income
Rental income on operating leases is accounted for on a straight line basis over the period of the lease.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Motor Vehicles 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 676,453
Additions 113,426
As at 31 December 2023 789,879
Depreciation
As at 1 January 2023 412,040
Provided during the period 73,154
As at 31 December 2023 485,194
Net Book Value
As at 31 December 2023 304,685
As at 1 January 2023 264,413
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 44,410 64,907
44,410 64,907
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5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 3,450,971
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 1,838,165 -
Investment properties were revalued by the director at 31 December 2021 on the basis of appropriate professional advice. In the opinion of the director there has been no significant change in the value of the investment properties since that date.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 12,700 31,785
Prepayments and accrued income 38,541 35,764
Amounts owed by group undertakings 1,869,959 1,869,959
1,921,200 1,937,508
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 12,324 9,879
Trade creditors 135,348 96,351
Bank loans and overdrafts 10,648 10,648
Corporation tax 92,669 130,230
Social security and other taxes 3,854 6,139
VAT 34,454 12,894
Net wages - 1,660
Other creditors 78,193 86,121
Accruals and deferred income 109,021 101,346
Director's loan account 35,554 226,545
Amounts owed to connected companies 609,971 561,864
1,122,036 1,243,677
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 52,781 65,105
Bank loans 17,622 27,430
70,403 92,535
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Transactions with related parties
During the year the company entered into the follwing transactions with related parties:
Rent payable to other related parties £182,349 (2022 £186,565)
The following amounts were outstanding at the reporting end date:
Amounts owed to related parties
Other related parties £609,971 (2022 £561,864)
Amounts owed by related parties
Entities with control, joint control or significant influence over the company £1,447,201 (2022 £1,447,201)
Other related parties £422,758 (2022 £422,758)
11. Ultimate Controlling Party
The company's ultimate controlling party is David Broadhurst Limited by virtue of his ownership of 100% of the issued share capital in the company.
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