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COMPANY REGISTRATION NUMBER: 11754746
Broadwing (Warple Way) Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
Broadwing (Warple Way) Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Broadwing (Warple Way) Limited
Officers and Professional Advisers
THE BOARD OF DIRECTORS
I Ezekiel
B Keenan
COMPANY SECRETARY
B Keenan
REGISTERED OFFICE
Ecen Suite 43 Enterprise Centre
Warth Park
Michael Way
Raunds
Northants
NN9 6GR
ACCOUNTANTS
Streets
Chartered accountants
ECEN
Warth Park
Northamptonshire
NN9 6GR
Broadwing (Warple Way) Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Current assets
Stocks
890,381
Debtors
4
473,706
3,316
Cash at bank and in hand
3,700
---------
---------
473,706
897,397
Creditors: amounts falling due within one year
5
622,213
522,705
---------
---------
Net current (liabilities)/assets
( 148,507)
374,692
---------
---------
Total assets less current liabilities
( 148,507)
374,692
Creditors: amounts falling due after more than one year
6
42,925
578,043
---------
---------
Net liabilities
( 191,432)
( 203,351)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 191,433)
( 203,352)
---------
---------
Shareholders deficit
( 191,432)
( 203,351)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 January 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 .
Broadwing (Warple Way) Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
B Keenan
Director
Company registration number: 11754746
Broadwing (Warple Way) Limited
Notes to the Financial Statements
Year ended 31 January 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 Ecen Suite 43 Enterprise Centre, Warth Park, Michael Way, Raunds, Northants, NN9 6GR.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
2024
2023
£
£
Other debtors
473,706
3,316
---------
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
2,998
Other creditors
622,213
519,707
---------
---------
622,213
522,705
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
42,925
578,043
--------
---------
7. Related party transactions
At the reporting date the company owed its parent company, Broadwing Properties Limited, the sum of £228,432 (2023 £127,046). There are no fixed repayment terms on the loan and no interest has been charged. At the reporting date the company was due the sum of £198,395 (2023 £120,938 owed to) from another group company, Broadwing (63 Selcroft Road) Limited. There are no fixed repayment terms on the loan and no interest has been charged. At the reporting date the company was due from its subsidiary company, Broadwing Leasehold Warple Way Limited, the sum of £470,006 (2023 £319). There are no fixed repayment terms on the loan and no interest has been charged. At the reporting date the company was due from its subsidiary company, Broadwing Management Warple Way Limited, the sum of £3,700 (2023 £Nil). There are no fixed repayment terms on the loan and no interest has been charged