2023-04-012024-03-312024-03-31false11194260BROADRAYNE 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BROADRAYNE LIMITED

Registered Number
11194260
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

BROADRAYNE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

KEIGHLEY, David John
KEIGHLEY, Sally Ann
KEIGHLEY-KING, Georgina Rose
KING, Peter Matthew
MANLEY, Jessica Ann
MANLEY, William

Company Secretary

KEIGHLEY, Sally Ann

Registered Address

Broadrayne Farm
Grasmere
Ambleside
LA22 9RU

Registered Number

11194260 (England and Wales)
BROADRAYNE LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,024,6663,025,213
Investments4106106
3,024,7723,025,319
Current assets
Debtors51,049,772981,699
Cash at bank and on hand1,77422
1,051,546981,721
Creditors amounts falling due within one year6(75,892)(91,712)
Net current assets (liabilities)975,654890,009
Total assets less current liabilities4,000,4263,915,328
Creditors amounts falling due after one year7(2,461,455)(2,339,925)
Provisions for liabilities8(364,900)(373,400)
Net assets1,174,0711,202,003
Capital and reserves
Called up share capital108108
Revaluation reserve1,115,8551,115,855
Profit and loss account58,10886,040
Shareholders' funds91,174,0711,202,003
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
KEIGHLEY, David John
Director
KEIGHLEY, Sally Ann
Director

Registered Company No. 11194260
BROADRAYNE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings50
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement..
Financial instruments
The Company 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 ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 233,000,00027,3163,027,316
At 31 March 243,000,00027,3163,027,316
Depreciation and impairment
At 01 April 23-2,1032,103
Charge for year-547547
At 31 March 24-2,6502,650
Net book value
At 31 March 243,000,00024,6663,024,666
At 31 March 233,000,00025,2133,025,213
Land & buildings was revalued on 18 May 2018 to £3,000,000. The historic cost of the property was £1,512,193.
4.Fixed asset investments
Investments in group undertakings and participating interests.

Investments in groups1

Total

££
Cost or valuation
At 01 April 23106106
At 31 March 24106106
Net book value
At 31 March 24106106
At 31 March 23106106

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings1,037,418975,196
Prepayments and accrued income12,3546,503
Total1,049,772981,699
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,8877,032
Bank borrowings and overdrafts58,46175,000
Taxation and social security8,4007,600
Accrued liabilities and deferred income2,1442,080
Total75,89291,712
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank loans are secured by a fixed and floating charge over the company's assets.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,678,4951,466,957
Amounts owed to related parties782,960872,968
Total2,461,4552,339,925
Bank loans are secured by a fixed and floating charge over the company's assets. Bank loans outstanding at the year end include instalments due after more than five years of £1,327,728 (2023 - £1,154,854).
8.Provisions for liabilities
The deferred tax provision relates to the revaluation reserve which was created when the property was revalued.

2024

2023

££
Net deferred tax liability (asset)364,900373,400
Total364,900373,400
9.Revaluation reserve
The revaluation reserve represents the amount of unrealised surplus created when the property was revalued, less any deferred tax provision. The reserve represents non-distributable funds.

£
Reserve at 01 April 231,115,855
At 31 March 241,115,855
10.Related party transactions
On 1 April 2023 the company owed the Directors £872,969. During the period the directors made further advances of £43,207 and extracted £135,216. At 31 March 2024 the company owed the Directors £780,960. Interest of £42,000 was charged on this loan.
11.Parent-subsidiary relationships
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.