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Registered number: 08658102
S P Broadway Ltd
Financial Statements
For The Year Ended 31 March 2024
Business 1st UK Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08658102
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,680 6,240
Tangible Assets 5 150,061 105,366
Investments 6 50,625 50,625
205,366 162,231
CURRENT ASSETS
Debtors 7 62,458 107,286
Cash at bank and in hand 158,009 194,316
220,467 301,602
Creditors: Amounts Falling Due Within One Year 8 (69,778 ) (90,385 )
NET CURRENT ASSETS (LIABILITIES) 150,689 211,217
TOTAL ASSETS LESS CURRENT LIABILITIES 356,055 373,448
NET ASSETS 356,055 373,448
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 6,100 6,100
Profit and Loss Account 348,955 366,348
SHAREHOLDERS' FUNDS 356,055 373,448
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Ross McFarlane
Director
21/11/2024
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
S P Broadway Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08658102 . The registered office is Radcot Lodge, Radcot, Bampton, Oxfordshire, OX18 2SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Freehold Periodic Revaluation
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 8)
7 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 15,600
As at 31 March 2024 15,600
Amortisation
As at 1 April 2023 9,360
Provided during the period 1,560
As at 31 March 2024 10,920
Net Book Value
As at 31 March 2024 4,680
As at 1 April 2023 6,240
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 67,100 25,699 57,298 150,097
Additions 50,800 4,614 - 55,414
As at 31 March 2024 117,900 30,313 57,298 205,511
Depreciation
As at 1 April 2023 - 18,525 26,206 44,731
Provided during the period - 2,946 7,773 10,719
As at 31 March 2024 - 21,471 33,979 55,450
Net Book Value
As at 31 March 2024 117,900 8,842 23,319 150,061
As at 1 April 2023 67,100 7,174 31,092 105,366
Land was purchased in January 2018 and was revalued as at 31.03.23 to have increased by 10%.  Additional land was purchased in 2023.
6. Investments
Other
£
Cost
As at 1 April 2023 50,625
As at 31 March 2024 50,625
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 50,625
As at 1 April 2023 50,625
In the year to 31st March 2024 additional artwork totalling £nil (2023: £6,500) was purchased as a fixed asset investment. Total artwork to 31st March 2024 is £50,625 (2023: £50,625) and was revalued as at 31.03.24 to have no increase in value.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,819 105,176
Prepayments and accrued income 3,136 1,460
Other debtors 503 650
62,458 107,286
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,603 2,541
Corporation tax 31,562 28,749
Other taxes and social security - 15,249
VAT 34,009 43,220
Accruals and deferred income 600 600
Director's loan account 4 26
69,778 90,385
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 6,100
As at 31 March 2024 6,100
Page 5