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Financial Statements
Broomco (1356) Limited
For the year ended 31 December 2023





































Registered number: 03441041

 
Broomco (1356) Limited
 

Company Information


Directors
Mr. J. Travis 
Mr. R. P. Grimmer 




Company secretary
Mr. J. Travis



Registered number
03441041



Registered office
Dewmead Farm, New Inn Road
Hinxworth

Baldock

Hertfordshire




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13-18 City Quay

Dublin 2





 
Broomco (1356) Limited
 

Contents



Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 6
Statement of comprehensive income
7
Statement of financial position
8
Notes to the financial statements
9 - 11


 
Broomco (1356) Limited
 
 
Directors' report
For the year ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Principal activity

The principal activity of the company during the year was that of a holding company.

Results and dividends

The profit for the year, after taxation, amounted to £Nil (2022: £Nil).

The directors did not propose a dividend during the year (2022: £Nil).

Directors

The directors who served during the year were:

Mr. J. Travis 
Mr. R. P. Grimmer 

Future developments

The company plans to continue its current operations.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditor

The auditor, Grant Thorntoncontinues in office in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Mr. R. P. Grimmer
Director

Date: 17 December 2024

Page 1

 
Broomco (1356) Limited
 

Directors' responsibilities statement
For the year ended 31 December 2023

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial yearUnder that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


On behalf of the board:

................................................
Mr. R. P. Grimmer
Director

Date: 17 December 2024
Page 2

 
 
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Independent auditor's report to the members of Broomco (1356) Limited
 

Opinion


We have audited the financial statements of Broomco (1356) Limited, which comprise the Statement of comprehensive income, the Statement of financial position and the Statement of changes in equity for the year ended 31 December 2023, and the related notes to the financial statements, including a summary of significant accounting policies.  

The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion, Broomco (1356) Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the company as at 31 December 2023 and of its financial performance for the year then ended; and


have been prepared in accordance with the requirements of the Companies Act 2006.



Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.



Page 3

 
 
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Independent auditor's report to the members of Broomco (1356) Limited (continued)


 
Other information


Other information comprises the information included in the Annual report, other than the financial statements and our auditor's report thereon, including the Directors' report . The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors' report  for the year for which the financial statements are prepared is consistent with the financial statements, and 
the Directors' report  has been prepared in accordance with applicable legal requirements. 


Matters on which we are required to report by exception


In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the  Directors' report .

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to take advantage of the small companies' exemptions from the  requirement to prepare a strategic report or in preparing the Directors' report.

Page 4

 
 
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Independent auditor's report to the members of Broomco (1356) Limited (continued)


Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation, and we considered the extent to which non—compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

Page 5

 
 
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Independent auditor's report to the members of Broomco (1356) Limited (continued)


The purpose of our audit work and to whom we owe our responsibilities
 

This report is made solely to the company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.



 
 
Tracey Sullivan (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants &
Statutory Auditors
Dublin
 
Date:
 17 December 2024
Page 6

 
Broomco (1356) Limited
 

Statement of comprehensive income
For the year ended 31 December 2023

The company has not traded during the financial year or the preceding financial year. During these periods, the company received no income and incurred no expenditure and therefore made no profit or loss.   



Page 7

 
Broomco (1356) Limited
Registered number:03441041

Statement of financial position
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
10
10

Net assets
  
10
10


Capital and reserves
  

Called up share capital 
 6 
3,709,402
3,709,402

Profit and loss account
 7 
(3,709,392)
(3,709,392)

  
10
10


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 were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr. R. P. Grimmer
Director

Date: 17 December 2024

The notes on pages 9 to 11 form part of these financial statements.

Page 8

 
Broomco (1356) Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Broomco (1356) Limited is a member's limited company which is registered and incorporated in the United Kingdom. The company's registered office is Dewmead Farm, New Inn Road, Hinxworth, Baldock, Hertfordshire, SG7 5HG. The principal activity of the Company is that of a holding company.

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 section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The financial statements are presented in Sterling (£).

 
2.2

Debtors

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

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

When preparing the financial statements, management did not need to undertake judgments, estimates or assumptions. 


4.


Employees




The company has no employees other than the directors, who did not receive any remuneration (2023: £Nil).

Page 9

 
Broomco (1356) Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

5.


Debtors: Amounts falling due within one year

2023
2022
£
£


Amounts owed by group undertakings
10
10


Amounts owed by group undertakings are interest free, unsecured and repayable on demand.


6.


Share capital

2023
2022
£
£
Authorised



42,000 (2022 - 42,000) A Ordinary shares of £1.00 each
42,000
42,000
500,000 (2022 - 500,000) B Ordinary shares of £1.00 each
500,000
500,000
170,940 (2022 - 170,940) D Ordinary shares of £1.00 each
170,940
170,940
2,375,000 (2022 - 2,375,000) Redeemable preference shares of £1.00 each
2,375,000
2,375,000
1,125,000 (2022 - 1,125,000) Cumulative convertible participating preferred shares of £1.00 each
1,125,000
1,125,000

4,212,940

4,212,940

Allotted, called up and fully paid



38,462 (2022 - 38,462) A Ordinary shares of £1.00 each
38,462
38,462
500,000 (2022 - 500,000) B Ordinary shares of £1.00 each
500,000
500,000
170,940 (2022 - 170,940) D Ordinary shares of £1.00 each
170,940
170,940
2,000,000 (2022 - 2,000,000) Redeemable preference shares of £1.00 each
2,000,000
2,000,000
1,000,000 (2022 - 1,000,000) Cumulative convertible participating preferred shares of £1.00 each
1,000,000
1,000,000

3,709,402

3,709,402



7.


Reserves

Profit and loss account

Includes all current and prior period retained profits and losses.


8.


Related party transactions

The Company has taken advantage of the exemption conferred by FRS 102, Section 33.11A, not to disclose transactions with members of the group headed by Leisuregrow Holdings Limited on the grounds that 100% of the voting rights are controlled within that group.

Page 10

 
Broomco (1356) Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

9.


Controlling party

The only group in which the financial statements of the Company are consolidated is that headed by ultimate parent undertaking, RGHVBRM Limited, a company registered in England and Wales. The consolidated financial statements of RGHVBRM Limited are filed at Companies House, Crown Way, Cardiff, CF4 3UZ. These are both the largest and smallest set of group accounts to include the results of the Company.

Page 11