2023-03-012024-02-292024-02-29false10382092BROADSTAIRS TRADING 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BROADSTAIRS TRADING LIMITED

Registered Number
10382092
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

BROADSTAIRS TRADING LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Mrs H Haque

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

10382092 (England and Wales)
BROADSTAIRS TRADING LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,88150,022
24,88150,022
Current assets
Stocks42,0242,255
Debtors534,79793,961
Cash at bank and on hand5,0929,158
41,913105,374
Creditors amounts falling due within one year6(210,951)(327,315)
Net current assets (liabilities)(169,038)(221,941)
Total assets less current liabilities(144,157)(171,919)
Creditors amounts falling due after one year7(17,552)(44,443)
Net assets(161,709)(216,362)
Capital and reserves
Called up share capital100100
Profit and loss account(161,809)(216,462)
Shareholders' funds(161,709)(216,362)
The financial statements were approved and authorised for issue by the Director on 1 July 2024, and are signed on its behalf by:
Mrs H Haque
Director
Registered Company No. 10382092
BROADSTAIRS TRADING LIMITED
Notes to the Financial Statements
for the year ended 29 February 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 accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis even through at the balance sheet date the company's net liabilities exceeded its net assets by £211,709 (2023 : £216,362). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
Turnover policy
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 recognised when goods are sold to the customers.
Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Plant and machinery6.5
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year98
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 March 23169,589169,589
At 29 February 24169,589169,589
Depreciation and impairment
At 01 March 23119,567119,567
Charge for year25,14125,141
At 29 February 24144,708144,708
Net book value
At 29 February 2424,88124,881
At 28 February 2350,02250,022
4.Stocks

2024

2023

££
Finished goods2,0242,255
Total2,0242,255
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings100100
Other debtors33,90593,440
Prepayments and accrued income792421
Total34,79793,961
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,2407,261
Bank borrowings and overdrafts36,04936,049
Amounts owed to related parties15,56613,566
Taxation and social security8,6325,301
Other creditors141,464260,304
Accrued liabilities and deferred income-4,834
Total210,951327,315
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,55244,443
Total17,55244,443
Included in bank borrowings less than one year and more than one year is a bounceback loan of £30,744 (2023 : £40,492). It also includes the other loans of £22,857 (2023 : £40,000) which are secured by the fixed assets of the company.
8.Operating lease commitments
Leasing Agreements : Minimum lease payments under non - cancellable operating leases fall due as follows : Due within one year : £35,000 (2023 : £35,000) Between one and five years : £61,250 (2023 : £96,250).
9.Related party transactions
Included in amounts owed to related parties is £4,200 (2023 : £2,200) due to Tempting Subs Ltd, £11,366 (2023 : £11,366) due to Eating Healthy Ltd, companies related to the director. Included in other debtors is an amount of £23,829 (2023 : £3,829) due from Endeavour Property Development Ltd, a company connected to the director. Included in other creditors is an amount of £141,151 (2023 : £260,304) due to KS Development Ltd, a company connected to the director. During the year the company received management income of £50,000 (2023 : £10,000) from KS Development Ltd and Endeavour Property Development Ltd, companies connected to the director.
10.Further information regarding the company's financial position
The company's ultimate parent company is Kent Surrey Group Holdings Limited, a company registered in England and Wales. Its registered office address is 2nd floor, Grove house, Lowlands Road, Harrow, HA1 3AW.