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Registered number: 02166753
Broadstone Associates Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02166753
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 90,239 110,273
90,239 110,273
CURRENT ASSETS
Debtors 5 2,201 1,470
Cash at bank and in hand 88,372 107,282
90,573 108,752
Creditors: Amounts Falling Due Within One Year 6 (32,760 ) (32,502 )
NET CURRENT ASSETS (LIABILITIES) 57,813 76,250
TOTAL ASSETS LESS CURRENT LIABILITIES 148,052 186,523
NET ASSETS 148,052 186,523
CAPITAL AND RESERVES
Called up share capital 7 7,550 7,550
Share premium account 142,500 142,500
Other reserves 50 50
Profit and Loss Account (2,048 ) 36,423
SHAREHOLDERS' FUNDS 148,052 186,523
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr H Joynes
Director
3 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Broadstone Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02166753 . The registered office is 22 Eldon Business Park, Eldon Road, Attenborough, Beeston, Nottingham, NG9 6DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Land and Buildings 20% Straight Line
Plant & Machinery 20% Reducing Balance
Office Equipment 20% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Land and Buildings Plant & Machinery Office Equipment Total
£ £ £ £
Cost
As at 1 April 2023 226,550 73,873 9,846 310,269
Additions - 483 - 483
As at 31 March 2024 226,550 74,356 9,846 310,752
Depreciation
As at 1 April 2023 145,235 46,273 8,488 199,996
Provided during the period 9,951 10,294 272 20,517
As at 31 March 2024 155,186 56,567 8,760 220,513
Net Book Value
As at 31 March 2024 71,364 17,789 1,086 90,239
As at 1 April 2023 81,315 27,600 1,358 110,273
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,040 1,320
Other debtors 161 150
2,201 1,470
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 433 -
Other creditors 25,661 27,487
Taxation and social security 6,666 5,015
32,760 32,502
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 7,550 7,550
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Dr Howard Joynes 75 81 (75 ) - 81
Mrs Josephine Joynes 75 80 (75 ) - 80
The above loan is unsecured, interest free and repayable on demand.
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