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Registration number: 00926031

A.D.Broughton Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

A.D.Broughton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

A.D.Broughton Limited

Company Information

Directors

Mr Paul Andrew Lillywhite

Mr Adam Robert Lillywhite

Mr Clive Richard Lillywhite

Registered office

93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NX

Accountants

Matthews Hanton Limited
Chartered Certified Accountants
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

A.D.Broughton Limited

(Registration number: 00926031)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

232,219

227,782

Current assets

 

Stocks

5

60,682

104,816

Debtors

6

325,264

370,173

Cash at bank and in hand

 

209,162

62,528

 

595,108

537,517

Creditors: Amounts falling due within one year

7

(392,180)

(370,707)

Net current assets

 

202,928

166,810

Total assets less current liabilities

 

435,147

394,592

Creditors: Amounts falling due after more than one year

7

(10,606)

(19,697)

Provisions for liabilities

(43,710)

(31,680)

Net assets

 

380,831

343,215

Capital and reserves

 

Called up share capital

8

490

490

Capital redemption reserve

885

885

Retained earnings

379,456

341,840

Shareholders' funds

 

380,831

343,215

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

 

A.D.Broughton Limited

(Registration number: 00926031)
Balance Sheet as at 31 March 2024

.........................................
Mr Clive Richard Lillywhite
Director

 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NX

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short Leasehold

23 Yrs Straight Line

Plant & Machinery

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2023 - 31).

 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

8,764

427,477

94,928

531,169

Additions

-

34,250

6,372

40,622

Disposals

-

-

(9,173)

(9,173)

At 31 March 2024

8,764

461,727

92,127

562,618

Depreciation

At 1 April 2023

8,764

210,319

84,304

303,387

Charge for the year

-

25,995

10,190

36,185

Eliminated on disposal

-

-

(9,173)

(9,173)

At 31 March 2024

8,764

236,314

85,321

330,399

Carrying amount

At 31 March 2024

-

225,413

6,806

232,219

At 31 March 2023

-

217,158

10,624

227,782

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Raw materials and consumables

16,740

37,625

Work in progress

43,942

67,191

60,682

104,816

 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

215,015

229,029

Prepayments

8,917

34,827

Other debtors

101,332

106,317

 

325,264

370,173

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

9,091

9,091

Trade creditors

 

204,012

234,212

Taxation and social security

 

85,227

24,064

Accruals and deferred income

 

80,055

39,165

Other creditors

 

13,795

64,175

 

392,180

370,707

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

10,606

19,697

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

490

490

490

490

       
 

A.D.Broughton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,606

19,697

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,091

9,091

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

82,904

82,819

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

110,330

110,330

At end of period

110,330

110,330

2023

Entities with joint control or significant influence
£

Total
£

At start of period

110,330

110,330

At end of period

110,330

110,330