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COMPANY REGISTRATION NUMBER: 05118080
BROADHURST UK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
BROADHURST UK LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
2,801,281
2,800,791
Investments
5
3,195,478
2,862,597
------------
------------
5,996,759
5,663,388
CURRENT ASSETS
Cash at bank and in hand
31,543
53,354
CREDITORS: amounts falling due within one year
6
1,682,358
1,770,417
------------
------------
NET CURRENT LIABILITIES
1,650,815
1,717,063
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,345,944
3,946,325
PROVISIONS
154,087
117,106
------------
------------
NET ASSETS
4,191,857
3,829,219
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
615
615
Share premium account
2,286,949
2,286,949
Non distributable reserve
1,562,581
1,190,296
Profit and loss account
341,712
351,359
------------
------------
SHAREHOLDERS FUNDS
4,191,857
3,829,219
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
BROADHURST UK LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mrs A F Broadhurst
Director
Company registration number: 05118080
BROADHURST UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the amount derived from rents receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
20% straight line
Office equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. TANGIBLE ASSETS
Freehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
2,800,000
1,832
2,801,832
Additions
330
1,176
1,506
------------
----
-------
------------
At 31 March 2024
2,800,000
330
3,008
2,803,338
------------
----
-------
------------
Depreciation
At 1 April 2023
1,041
1,041
Charge for the year
66
950
1,016
------------
----
-------
------------
At 31 March 2024
66
1,991
2,057
------------
----
-------
------------
Carrying amount
At 31 March 2024
2,800,000
264
1,017
2,801,281
------------
----
-------
------------
At 31 March 2023
2,800,000
791
2,800,791
------------
----
-------
------------
Tangible assets held at valuation
At 31 March 2024 the property was revalued by the director. In the opinion of the director there was a change in the fair value. The fair value was determined by the director using their experience and knowledge of the property market in the area the property is located.
5. INVESTMENTS
Managed investments
Other loans
Total
£
£
£
Cost
At 1 April 2023
2,742,597
120,000
2,862,597
Additions
465,129
465,129
Disposals
( 454,320)
( 454,320)
Revaluations
335,304
335,304
Transfers
(15,000)
(15,000)
Other movements
1,768
1,768
------------
---------
------------
At 31 March 2024
3,090,478
105,000
3,195,478
------------
---------
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
---------
------------
Carrying amount
At 31 March 2024
3,090,478
105,000
3,195,478
------------
---------
------------
At 31 March 2023
2,742,597
120,000
2,862,597
------------
---------
------------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
6,932
49,446
Other creditors
1,675,426
1,720,971
------------
------------
1,682,358
1,770,417
------------
------------
7. RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The director has advanced monies to the company. At 31 March 2024 the amount due from the company was £1,672,591 (31 March 2023 - £1,718,391).