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Registered number: 09130135
Broadbean Limited
Financial Statements
For The Year Ended 31 July 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Broadbean Limited for the year ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Broadbean Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Broadbean Limited , as a body, in accordance with the terms of our engagement letter dated 22 March 2018. Our work has been undertaken solely to prepare for your approval the accounts of Broadbean Limited and state those matters that we have agreed to state to the directors of Broadbean Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Broadbean Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Broadbean Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Broadbean Limited . You consider that Broadbean Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Broadbean Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
7th January 2025
DJ Coulter & Associates Limited
Chartered Certified Accountants
Wellesley House
7 Clarence Parade
Cheltenham
GL50 3NY
Page 1
Page 2
Balance Sheet
Registered number: 09130135
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,903 10,741
9,903 10,741
CURRENT ASSETS
Stocks 5 3,215 3,478
Debtors 6 1,086 866
Cash at bank and in hand 56,153 30,110
60,454 34,454
Creditors: Amounts Falling Due Within One Year 7 (35,474 ) (26,307 )
NET CURRENT ASSETS (LIABILITIES) 24,980 8,147
TOTAL ASSETS LESS CURRENT LIABILITIES 34,883 18,888
NET ASSETS 34,883 18,888
CAPITAL AND RESERVES
Called up share capital 8 102 100
Profit and Loss Account 34,781 18,788
SHAREHOLDERS' FUNDS 34,883 18,888
Page 2
Page 3
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 John Geoghegan
Director
7th January 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Broadbean Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09130135 . The registered office is 11 Normal Terrace, Cheltenham, GL50 4AR.
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 Financial Reporting Standard for Smaller Entities (effective April 2008).
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. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 11)
12 11
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 44,711 970 45,681
Additions 2,604 - 2,604
Disposals (686 ) (308 ) (994 )
As at 31 July 2024 46,629 662 47,291
Depreciation
As at 1 August 2023 34,572 368 34,940
Provided during the period 2,896 95 2,991
Disposals (460 ) (83 ) (543 )
As at 31 July 2024 37,008 380 37,388
Net Book Value
As at 31 July 2024 9,621 282 9,903
As at 1 August 2023 10,139 602 10,741
5. Stocks
2024 2023
£ £
Materials 3,215 3,478
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Page 6
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,086 522
Net wages - 344
1,086 866
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 431 744
Corporation tax 14,870 7,371
Other taxes and social security 1,179 577
VAT 16,763 14,568
Net wages 75 -
Accruals and deferred income 2,080 2,362
Directors' loan accounts 76 685
35,474 26,307
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
1 Ordinary A shares of £ 1 each 1 -
1 Ordinary B shares of £ 1 each 1 -
102 100
Shares issued during the period: £
1 Ordinary A shares of £ 1 each 1
1 Ordinary B shares of £ 1 each 1
2
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr John Geoghegan 30,500 15,000
Ms Fredrika Preece 7,500 15,000
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10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 38,000 30,000
11. Ultimate Controlling Party
The company's ultimate controlling parties are John Geoghegan and Frederika Preece by virtue of their ownership of 100% of the issued share capital in the company.
Page 7