Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01No description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11332604 2023-04-01 2024-03-31 11332604 2022-04-01 2023-03-31 11332604 2024-03-31 11332604 2023-03-31 11332604 c:Director1 2023-04-01 2024-03-31 11332604 c:Director2 2023-04-01 2024-03-31 11332604 c:Director3 2023-04-01 2024-03-31 11332604 c:RegisteredOffice 2023-04-01 2024-03-31 11332604 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11332604 d:FreeholdInvestmentProperty 2024-03-31 11332604 d:FreeholdInvestmentProperty 2023-03-31 11332604 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 11332604 d:CurrentFinancialInstruments 2024-03-31 11332604 d:CurrentFinancialInstruments 2023-03-31 11332604 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11332604 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11332604 d:ShareCapital 2024-03-31 11332604 d:ShareCapital 2023-03-31 11332604 d:RetainedEarningsAccumulatedLosses 2024-03-31 11332604 d:RetainedEarningsAccumulatedLosses 2023-03-31 11332604 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 11332604 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11332604 c:FRS102 2023-04-01 2024-03-31 11332604 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11332604 c:FullAccounts 2023-04-01 2024-03-31 11332604 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11332604 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 11332604







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


BROADWAY ASSETS LIMITED



































                       img12a1.png 

 


BROADWAY ASSETS LIMITED
 


 
COMPANY INFORMATION


Directors
D M Panormo 
D M Panormo 
L C Panormo 




Registered number
11332604



Registered office
3 Crescent Court
High Street

Billericay

Essex

CM12 9AQ




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


BROADWAY ASSETS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


BROADWAY ASSETS LIMITED
REGISTERED NUMBER:11332604



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,720,500
1,425,000

  
2,720,500
1,425,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,259
471

Cash at bank and in hand
  
42,655
9,627

  
43,914
10,098

Creditors: amounts falling due within one year
 6 
(2,442,442)
(1,098,953)

Net current liabilities
  
 
 
(2,398,528)
 
 
(1,088,855)

Total assets less current liabilities
  
321,972
336,145

Provisions for liabilities
  

Deferred tax
 7 
(109,121)
(131,988)

  
 
 
(109,121)
 
 
(131,988)

Net assets
  
212,851
204,157

Page 1

 


BROADWAY ASSETS LIMITED
REGISTERED NUMBER:11332604


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
212,751
204,057

  
212,851
204,157


The directors consider that the Company is entitled to exemption from audit under section 479A of the Companies Act 2006.

The 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 directors consider 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 directors acknowledge their 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 statement of comprehensive income 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 by: 




D M Panormo
Director

Date: 17 December 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


BROADWAY ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Broadway Assets Limited is a private Company, limited by shares, registered in England and Wales. The Company's trading number and registered office addresss can be found on the Company Information page. 
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue includes amounts receivable in respect of rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 


BROADWAY ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,425,000


Additions at cost
1,332,767


Revaluation
(37,267)



At 31 March 2024
2,720,500

The 2024 valuations were made by Hilbury Chaplin, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,505,373
1,172,606

2,505,373
1,172,606

Page 4

 


BROADWAY ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,185
471

Prepayments and accrued income
74
-

1,259
471



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2,428,372
1,089,790

Corporation tax
7,823
4,648

Accruals and deferred income
6,247
4,515

2,442,442
1,098,953



The Company has outstanding charges in favour of Union Pension Trustees (Eastern) Limited, L Panormo and D Panormo dated 11 January 2022, being a fixed charge over one of its freehold investment properties.



7.


Deferred taxation




2024


£






At beginning of year
(131,988)


Charged to profit or loss
22,867



At end of year
(109,121)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(109,121)
(131,988)

(109,121)
(131,988)

Page 5

 


BROADWAY ASSETS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8.


Related party transactions

The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions
with members of the same group that are wholly owned.


9.


Controlling party

The parent Company is Plaistow Broadway Filling Stations Limited, a Company registered in England. 
The results of Broadway Assets Limited, are consolidated into the group accounts of Plaistow Broadway Filling Stations Limited, which is the smallest and largest group for which consolidated financial statements are drawn up for. The consolidated financial statements of this group may be obtained from the registered office which is Suite 3 Crescent Court, Western Road, Billericay, Essex, CM14 9AQ. 
There is no ultimate controlling party.

 
Page 6