Branch Road Global Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 12896007 (England and Wales)
Branch Road Global Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
Branch Road Global Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
7,809
7,809
Current assets
Debtors
4
104
(7,454)
Creditors: amounts falling due within one year
5
(7,611)
(53)
Net current liabilities
(7,507)
(7,507)
Net assets
302
302
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
102
102
Total equity
302
302
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 year ended 31 December 2023 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 year 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 17 September 2024 and are signed on its behalf by:
N Cliffe
S Cliffe
Director
Director
Company Registration No. 12896007
Branch Road Global Limited
Statement of Changes in Equity
For the year ended 31 December 2023
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 December 2021
200
4
204
Period ended 31 December 2022:
Profit and total comprehensive income for the period
-
341,662
341,662
Dividends
-
(341,564)
(341,564)
Balance at 31 December 2022
200
102
302
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
56,000
56,000
Dividends
-
(56,000)
(56,000)
Balance at 31 December 2023
200
102
302
Branch Road Global Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information
Branch Road Global Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.
1.1
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 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 £.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Branch Road Global Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
7,809
7,809
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
102
(7,456)
Other debtors
2
2
104
(7,454)
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
7,611
53
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
20,000
20,000
200
200
7
Related party transactions
During the year dividends of £56,000 (2022: £341,564) were declared.