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REGISTERED NUMBER: 10014964 (England and Wales)















Unaudited Financial Statements

For The Year Ended 29 February 2024

for

Broadway Foods Limited

Broadway Foods Limited (Registered number: 10014964)






Contents of the Financial Statements
For The Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Broadway Foods Limited

Company Information
For The Year Ended 29 February 2024







DIRECTOR: Mr A Bakh





REGISTERED OFFICE: 276 Preston Road
Harrow
Middlesex
HA3 0QA





REGISTERED NUMBER: 10014964 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA

Broadway Foods Limited (Registered number: 10014964)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 400 -

CURRENT ASSETS
Stocks 5,060 -
Debtors 5 19,037 23,112
Cash at bank and in hand 14,781 585
38,878 23,697
CREDITORS
Amounts falling due within one year 6 (40,291 ) (11,454 )
NET CURRENT (LIABILITIES)/ASSETS (1,413 ) 12,243
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,013

)

12,243

CREDITORS
Amounts falling due after more than one year 7 (13,074 ) (23,049 )
NET LIABILITIES (14,087 ) (10,806 )

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account (14,187 ) (10,906 )
SHAREHOLDERS' FUNDS (14,087 ) (10,806 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Broadway Foods Limited (Registered number: 10014964)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





Mr A Bakh - Director


Broadway Foods Limited (Registered number: 10014964)

Notes to the Financial Statements
For The Year Ended 29 February 2024

1. STATUTORY INFORMATION

Broadway Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the sandwich product has transferred to the buyer. This is usually at the point that the customer has paid for the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments 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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Broadway Foods Limited (Registered number: 10014964)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Going concern
As at the balance sheet date the company's total liabilities exceeded its total assets. However, the director anticipates that the company will become profitable in future years and considering the support available from creditors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Broadway Foods Limited (Registered number: 10014964)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 500
At 29 February 2024 500
DEPRECIATION
Charge for year 100
At 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 19,037 23,112

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 10,183 9,997
Trade creditors 10,348 1,242
Taxation and social security - 6
Other creditors 19,760 209
40,291 11,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 13,074 23,049

Broadway Foods Limited (Registered number: 10014964)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to the directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29/02/2428/02/23
£ £
Balance outstanding at start of year9,438-
Amounts advanced9,438
Amounts repaid(9,438)-
Amounts written off--
Amounts waived--
Balance outstanding at end of year-9,438
The interest payable on advances paid to a director is calculated at 2% to 2.25% per annum. The advances are repayable on demand.

9. RELATED PARTY DISCLOSURES

Included in creditors is an amount owed to the director and shareholder of £17,916. The outstanding loan due is interest free and payable on demand.