Company registration number: 01222789
Unaudited financial statements
for the year ended 31 August 2023
for
Broadthorn Construction Limited
Pages for filing with the Registrar
Company registration number: 01222789
Broadthorn Construction Limited
Balance sheet
as at 31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 137,549 163,790
137,549 163,790
Current assets
Stocks 167,645 167,645
Debtors 808,647 308,647
Cash at bank and in hand 62,820 227,448
1,039,112 703,740
Creditors: amounts falling due within
one year
(167,881) (129,135)
Net current assets 871,231 574,605
Total assets less current liabilities 1,008,780 738,395
Provisions for liabilities (23,192) (27,532)
NET ASSETS 985,588 710,863
Capital and reserves
Called up share capital 100 100
Profit and loss account 985,488 710,763
TOTAL EQUITY 985,588 710,863
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 August 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 01222789
Broadthorn Construction Limited
Balance sheet - continued
as at 31 August 2023
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr P Cosgrove, Director
7 October 2024
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Broadthorn Construction Limited
Notes to the financial statements
for the year ended 31 August 2023
1 Company information
The company is registered in England and Wales. Its registered number is 01222789. The company is limited by shares. Its registered office is C/O Pomegranate, 3 Hardman Square, Manchester, M3 3EB.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery:
Plant and machinery - 15% reducing balance
Fixtures & fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
Broadthorn Construction Limited
Notes to the financial statements - continued
for the year ended 31 August 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 2 (2022 - 2).
4 Tangible fixed assets
Plant and
machinery
£
Cost
At 1 September 2022 656,717
At 31 August 2023 656,717
4
Broadthorn Construction Limited
Notes to the financial statements - continued
for the year ended 31 August 2023
4 Tangible fixed assets - continued
Depreciation
At 1 September 2022 492,927
Charge for year 26,241
At 31 August 2023 519,168
Net book value
At 31 August 2023 137,549
At 31 August 2022 163,790
5 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022.
2023 2022
£ £
Mr Patrick James COSGROVE (JNR)
Balance outstanding at start of year 5,208 -
Amounts advanced 82,228 50,000
Amounts repaid (82,108) (44,792)
Balance outstanding at end of year 5,328 5,208
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