Company registration number 04786094 (England and Wales)
Bradshaw Farnham Lea Limited
Unaudited financial statements
For the year ended 31 December 2023
Bradshaw Farnham Lea Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Bradshaw Farnham Lea Limited
Balance sheet
As at 31 December 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
310,807
339,939
Investments
5
200
200
311,007
340,139
Current assets
Debtors - deferred tax
2,989
Debtors - other
6
2,823,629
2,561,598
Cash at bank and in hand
373,577
618,585
3,197,206
3,183,172
Creditors: amounts falling due within one year
7
(79,439)
(75,072)
Net current assets
3,117,767
3,108,100
Total assets less current liabilities
3,428,774
3,448,239
Creditors: amounts falling due after more than one year
8
(41,388)
(77,941)
Provisions for liabilities
(10,600)
Net assets
3,376,786
3,370,298
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss reserves
3,375,786
3,369,298
Total equity
3,376,786
3,370,298
Bradshaw Farnham Lea Limited
Balance sheet (continued)
As at 31 December 2023
31 December 2023
- 2 -
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 18 September 2024 and are signed on its behalf by:
Mr P M Lea
Director
Company registration number 04786094 (England and Wales)
Bradshaw Farnham Lea Limited
Notes to the financial statements
For the year ended 31 December 2023
- 3 -
1
Accounting policies
Company information
Bradshaw Farnham Lea Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 The Crescent, Wirral, CH48 4HN, West Kirby.
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 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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold buildings
over 50 years
Lease premiums
over 10 years
Leasehold improvements
over 10 years
Fixtures and fittings
15% on reducing balance
The residual value of freehold property comprising land and buildings is reviewed annually.
1.4
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.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Bradshaw Farnham Lea Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The company has no employees other than its directors.
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
208,666
Amortisation and impairment
At 1 January 2023 and 31 December 2023
208,666
Carrying amount
At 31 December 2023
At 31 December 2022
Bradshaw Farnham Lea Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
473,962
209,285
683,247
Depreciation and impairment
At 1 January 2023
150,430
192,878
343,308
Depreciation charged in the year
26,671
2,461
29,132
At 31 December 2023
177,101
195,339
372,440
Carrying amount
At 31 December 2023
296,861
13,946
310,807
At 31 December 2022
323,532
16,407
339,939
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
200
200
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
46,314
Amounts owed by group undertakings
881,571
710,380
Other debtors
1,108,061
1,063,535
2,035,946
1,773,915
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
787,683
787,683
Deferred tax asset
2,989
787,683
790,672
Total debtors
2,823,629
2,564,587
Bradshaw Farnham Lea Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
34,952
30,857
Taxation and social security
128
Other creditors
44,487
44,087
79,439
75,072
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
41,388
77,941
Bank borrowings are secured on the assets of the company.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
10
Related party transactions
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due from related parties
£
£
Entities under the control of key management personnel
1,092,373
1,092,373
11
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan
2.19
103,716
2,966
2,309
(4,763)
104,228
Loan
2.19
395,052
2,991
8,744
(5,229)
401,558
498,768
5,957
11,053
(9,992)
505,786