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Registration number: 08914703

Broker Development Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Broker Development Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Broker Development Property Limited

Company Information

Directors

Mr Brian John Spellar

Mrs Paula Anne Spellar

Registered office

2 Engaine
Orton
Longueville
Peterborough
PE2 7QA

 

Broker Development Property Limited

(Registration number: 08914703)
Balance Sheet as at 29 February 2024

Note

2024

2023

   

£

£

£

£

Fixed Assets

   

 

Tangible Assets

4

 

259,897

 

259,793

Other financial assets

5

 

50,000

 

50,000

   

309,897

 

309,793

Current assets

   

 

Cash at bank and in hand

 

3,751

 

3,353

 

Creditors: Amounts falling due within one year

6

(210,733)

 

(209,800)

 

Net current liabilities

   

(206,982)

 

(206,447)

Total assets less current liabilities

   

102,915

 

103,346

Creditors: Amounts falling due after more than one year

6

 

(6,042)

 

(8,542)

Net assets

   

96,873

 

94,804

Capital and Reserves

   

 

Called up share capital

7

400

 

400

 

Retained Earnings

96,473

 

94,404

 

Shareholders' funds

   

96,873

 

94,804

For the financial year ending 29 February 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 29 November 2024 and signed on its behalf by:
 

.........................................
Mr Brian John Spellar
Director

   
     
 

Broker Development Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
2 Engaine
Orton
Longueville
Peterborough
PE2 7QA
United Kingdom

These financial statements were authorised for issue by the Board on 29 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 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.

 

Broker Development Property Limited

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

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.

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 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.

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.

 

Broker Development Property Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible Assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

257,773

4,961

262,734

Additions

-

635

635

At 29 February 2024

257,773

5,596

263,369

Depreciation

At 1 March 2023

-

2,941

2,941

Charge for the year

-

531

531

At 29 February 2024

-

3,472

3,472

Carrying amount

At 29 February 2024

257,773

2,124

259,897

At 28 February 2023

257,773

2,020

259,793

Included within the net book value of land and buildings above is £257,773 (2023 - £257,773) in respect of freehold land and buildings.
 

 

Broker Development Property Limited

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

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2023

50,000

50,000

At 29 February 2024

50,000

50,000

Impairment

Carrying amount

At 29 February 2024

50,000

50,000

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

929

476

Accruals and deferred income

1,176

1,008

Other creditors

208,628

208,316

210,733

209,800

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

6,042

8,542

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

200

200

200

200

B Ordinary of £1 each

200

200

200

200

400

400

400

400

 

Broker Development Property Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,042

8,542