Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311No description of principal activity2023-04-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10615588 2023-04-01 2024-03-31 10615588 2022-04-01 2023-03-31 10615588 2024-03-31 10615588 2023-03-31 10615588 c:Director1 2023-04-01 2024-03-31 10615588 d:Buildings 2023-04-01 2024-03-31 10615588 d:Buildings 2024-03-31 10615588 d:Buildings 2023-03-31 10615588 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10615588 d:CurrentFinancialInstruments 2024-03-31 10615588 d:CurrentFinancialInstruments 2023-03-31 10615588 d:Non-currentFinancialInstruments 2024-03-31 10615588 d:Non-currentFinancialInstruments 2023-03-31 10615588 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10615588 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10615588 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10615588 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10615588 d:ShareCapital 2024-03-31 10615588 d:ShareCapital 2023-03-31 10615588 d:RetainedEarningsAccumulatedLosses 2024-03-31 10615588 d:RetainedEarningsAccumulatedLosses 2023-03-31 10615588 c:FRS102 2023-04-01 2024-03-31 10615588 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10615588 c:FullAccounts 2023-04-01 2024-03-31 10615588 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10615588 4 2023-04-01 2024-03-31 10615588 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 10615588


BROADACRE (LAKENHEATH) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
BROADACRE (LAKENHEATH) LIMITED
REGISTERED NUMBER:10615588

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
138,664
44,050

  
138,664
44,050

Current assets
  

Stocks
 5 
923,358
923,358

Debtors: amounts falling due within one year
 6 
55,730
142,887

Cash at bank and in hand
  
10,789
2,721

  
989,877
1,068,966

Creditors: amounts falling due within one year
 7 
(10,361)
(6,412)

Net current assets
  
 
 
979,516
 
 
1,062,554

Total assets less current liabilities
  
1,118,180
1,106,604

Creditors: amounts falling due after more than one year
 8 
(931,250)
(925,116)

  

Net assets
  
186,930
181,488


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
186,929
181,487

  
186,930
181,488


Page 1

 
BROADACRE (LAKENHEATH) LIMITED
REGISTERED NUMBER:10615588
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2024.




B J Rutterford
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BROADACRE (LAKENHEATH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Broadacre (Lakenheath) Limited is a private company limited by shares and incorporated in England and Wales, registration number 10615588.  The registered office is 121 Undley, Lakenheath, Brandon, Suffolk, IP27 9BY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

 
BROADACRE (LAKENHEATH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
4%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks comprise work in progress on property development projects.

Stocks are assessed for impairment at each balance sheet date. If stock is impaired the carrying amount is reduced to selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BROADACRE (LAKENHEATH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
BROADACRE (LAKENHEATH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2023
46,000


Additions
96,454



At 31 March 2024

142,454



Depreciation


At 1 April 2023
1,950


Charge for the year on owned assets
1,840



At 31 March 2024

3,790



Net book value



At 31 March 2024
138,664


5.


Stocks

2024
2023
£
£

Stocks - work in progress
923,358
923,358

923,358
923,358


Page 6

 
BROADACRE (LAKENHEATH) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
4,800

Other debtors
7,681
-

Prepayments and accrued income
48,049
138,087

55,730
142,887



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,664
30

Other taxation and social security
-
312

Accruals and deferred income
7,697
6,070

10,361
6,412



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
931,250
925,116

931,250
925,116



9.


Related party transactions

During the year, B J Rutterford & Partners, advanced a sum of £6,133 to the company in the form of a loan. B J Rutterford, a director of the company is also a partner of B J Rutterford & Partners. The balance owing to the partnership at 31 March 2024 is £931,249 (2023: £925,116). 
The partnership loan is included as a long term creditor in the financial statements on the understanding that the partners will not seek repayment within 12 months of the balance sheet date.
The loan is provided on an interest free basis.

 
Page 7