Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false2022-10-01falseEngineering products for the mining industry22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08572542 2022-10-01 2023-09-30 08572542 2021-10-01 2022-09-30 08572542 2023-09-30 08572542 2022-09-30 08572542 2022-10-01 08572542 c:Director1 2022-10-01 2023-09-30 08572542 d:Buildings d:LongLeaseholdAssets 2022-10-01 2023-09-30 08572542 d:Buildings d:LongLeaseholdAssets 2023-09-30 08572542 d:Buildings d:LongLeaseholdAssets 2022-09-30 08572542 d:PlantMachinery 2022-10-01 2023-09-30 08572542 d:PlantMachinery 2023-09-30 08572542 d:PlantMachinery 2022-09-30 08572542 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 08572542 d:OfficeEquipment 2022-10-01 2023-09-30 08572542 d:OfficeEquipment 2023-09-30 08572542 d:OfficeEquipment 2022-09-30 08572542 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 08572542 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 08572542 d:Goodwill 2023-09-30 08572542 d:Goodwill 2022-09-30 08572542 d:CurrentFinancialInstruments 2023-09-30 08572542 d:CurrentFinancialInstruments 2022-09-30 08572542 d:Non-currentFinancialInstruments 2023-09-30 08572542 d:Non-currentFinancialInstruments 2022-09-30 08572542 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08572542 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 08572542 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 08572542 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 08572542 d:ShareCapital 2023-09-30 08572542 d:ShareCapital 2022-09-30 08572542 d:RetainedEarningsAccumulatedLosses 2023-09-30 08572542 d:RetainedEarningsAccumulatedLosses 2022-09-30 08572542 c:FRS102 2022-10-01 2023-09-30 08572542 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 08572542 c:FullAccounts 2022-10-01 2023-09-30 08572542 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 08572542 2 2022-10-01 2023-09-30 08572542 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Registered number: 08572542


 
 
 
 
 
 
 
 
 
 
BRODERICK MINING AND METALS LIMITED
 
 
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
BRODERICK MINING AND METALS LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 10


 
BRODERICK MINING AND METALS LIMITED
REGISTERED NUMBER:08572542

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,053
1,597

  
4,053
1,597

Current assets
  

Stocks
  
10,350
19,315

Debtors: amounts falling due within one year
 6 
163,496
83,253

Cash at bank and in hand
  
272,619
292,671

  
446,465
395,239

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(155,693)
(190,437)

Net current assets
  
 
 
290,772
 
 
204,802

Total assets less current liabilities
  
294,825
206,399

Creditors: amounts falling due after more than one year
 8 
(16,000)
(25,600)

  

Net assets
  
278,825
180,799


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
278,823
180,797

  
278,825
180,799


Page 1

 
BRODERICK MINING AND METALS LIMITED
REGISTERED NUMBER:08572542
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr K J Broderick
Director

Date: 27 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Broderick Mining and Metals Limited is a private company, limited by shares, which is domiciled in England and Wales, registration number 08572542. The registered office is Unit 6a, Uppingham Road, Billesdon, Leicester, LE7 9FN.

Principal activities
The principal activity of the Company during the year continued to be that of engineering products for the mining industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is British Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

Page 4

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in the Profit and Loss Account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property improvements
-
over period of lease
Plant and machinery
-
20% straight line per annum
Fixtures and office equipment
-
20% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
 
Page 6

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet whenthere is an 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.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022: 2).

Page 7

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2022
5,000



At 30 September 2023

5,000



Amortisation


At 1 October 2022
5,000



At 30 September 2023

5,000



Net book value



At 30 September 2023
-



At 30 September 2022
-



Page 8

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Leasehold property improvements
Plant and machinery
Fixtures and office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2022
8,587
10,140
12,546
31,273


Additions
-
-
3,569
3,569



At 30 September 2023

8,587
10,140
16,115
34,842



Depreciation


At 1 October 2022
8,587
10,140
10,949
29,676


Charge for the year
-
-
1,113
1,113



At 30 September 2023

8,587
10,140
12,062
30,789



Net book value



At 30 September 2023
-
-
4,053
4,053



At 30 September 2022
-
-
1,597
1,597


6.


Debtors

2023
2022
£
£


Trade debtors
84,595
7,581

Other debtors
78,901
75,672

163,496
83,253


Page 9

 
BRODERICK MINING AND METALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,600
9,600

Trade creditors
72,369
126,145

Corporation tax
65,198
45,063

Other taxation and social security
3,268
4,112

Other creditors
-
182

Accruals and deferred income
5,258
5,335

155,693
190,437


Bank loans of £9,600 (2022: £9,600) are secured over the assets of the Company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,000
25,600

16,000
25,600


Bank loans of £16,000 (2022: £25,600) are secured over the assets of the Company.


9.


Transactions with directors

At the start of the year the Director owed £75,672 to the Company. During the year, advances of £101,105 and repayments of £97,876 were made, leaving a balance of £78,901 due to the Company at the year end by the Director. Interest was charged at a rate of 2.5% on overdrawn balances by the Company.

 
Page 10