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REGISTERED NUMBER: 12463349 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Broadbent Welding & Industrial Supplies
Ltd

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)






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


Broadbent Welding & Industrial Supplies
Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr L D G Jackson
Mr A R Murphy
Mr A J L Walker





REGISTERED OFFICE: Unit 4, Holmfield Works
Shay Lane
Halifax
West Yorkshire
HX3 6RS





REGISTERED NUMBER: 12463349 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 50,641 59,452

CURRENT ASSETS
Stocks 5 45,902 44,164
Debtors 6 410,812 266,299
Cash at bank and in hand 13,446 4,570
470,160 315,033
CREDITORS
Amounts falling due within one year 7 407,317 291,839
NET CURRENT ASSETS 62,843 23,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,484

82,646

CREDITORS
Amounts falling due after more than one
year

8

(34,044

)

(41,706

)

PROVISIONS FOR LIABILITIES (2,525 ) -
NET ASSETS 76,915 40,940

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 76,815 40,840
SHAREHOLDERS' FUNDS 76,915 40,940

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 directors acknowledge their 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.

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mr L D G Jackson - Director Mr A R Murphy - Director




Mr A J L Walker - Director


Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Broadbent Welding & Industrial Supplies Ltd 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 March 2023 - - 67,240 413 67,653
Additions 2,300 1,960 - 1,024 5,284
At 29 February 2024 2,300 1,960 67,240 1,437 72,937
DEPRECIATION
At 1 March 2023 - - 8,052 149 8,201
Charge for year 230 163 13,448 254 14,095
At 29 February 2024 230 163 21,500 403 22,296
NET BOOK VALUE
At 29 February 2024 2,070 1,797 45,740 1,034 50,641
At 28 February 2023 - - 59,188 264 59,452

Included within the net book value above is £40,540 (2023 - £52,688), which relates to assets held under finance agreements. The depreciation charge to the financial statements in the year in respect of such assets amounted to £12,148 (2023 - £8,052).

5. STOCKS
29.2.24 28.2.23
£ £
Stocks 45,902 44,164

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£ £
Trade debtors 256,712 201,789
Amounts owed by associates 109,164 -
Other debtors 44,936 64,510
410,812 266,299

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£ £
Bank loans and overdrafts (see note 9) 33,437 15,000
Finance leases (see note 10) 7,662 7,362
Trade creditors 171,123 105,499
Amounts owed to associates - 16,711
Taxation and social security 37,169 27,091
Other creditors 157,926 120,176
407,317 291,839

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£ £
Finance leases (see note 10) 34,044 41,706

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£ £
Amounts falling due within one year or on demand:
Bank loans 33,437 15,000
Other loans 2,975 2,755
36,412 17,755

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
29.2.24 28.2.23
£ £
Net obligations repayable:
Within one year 7,662 7,362
Between one and five years 34,044 41,706
41,706 49,068

Non-cancellable
operating leases
29.2.24 28.2.23
£ £
Within one year 18,812 18,812
Between one and five years 12,541 31,229
31,353 50,041

Broadbent Welding & Industrial Supplies
Ltd (Registered number: 12463349)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£ £
Bank loans 33,437 15,000
Finance Lease 41,706 49,068
Invoice Factoring 148,062 113,876
223,205 177,944

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

28.02.2428.02.23
££
Director 1
Balance outstanding at start of year35,68624,662
Amounts advanced63,13935,696
Amounts repaid(98,825)(24,672)
Balance outstanding at end of year-35,686

Director 2
Balance outstanding at start of year10,7344,500
Amounts advanced59,34910,744
Amounts repaid(70,083)(4,510)
Balance outstanding at end of year-10,734

Director 3
Balance outstanding at start of year18,090-
Amounts advanced40,05318,090
Amounts repaid(27,099)-
Balance outstanding at end of year31,04418,090

13. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £109,032 (2023 - £nil) from Broadbent (Holdings) Limited. The directors in Broadbent Welding & Industrial Supplied Limited are also the same in Broadbent (Holdings) Limited.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Broadbent (Holdings) Limited.

The ultimate controlling party is it its directors.