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COMPANY REGISTRATION NUMBER: 07251697
Broadbent Leathergoods Ltd
Filleted Unaudited Reports and Accounts
30 April 2024
Broadbent Leathergoods Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1
1
Current assets
Stocks
14,260
15,180
Debtors
6
2,759
589
Cash at bank and in hand
23,232
24,515
--------
--------
40,251
40,284
Creditors: amounts falling due within one year
7
84,703
69,148
--------
--------
Net current liabilities
44,452
28,864
--------
--------
Total assets less current liabilities
( 44,451)
( 28,863)
--------
--------
Net liabilities
( 44,451)
( 28,863)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 44,452)
( 28,864)
--------
--------
Shareholders deficit
( 44,451)
( 28,863)
--------
--------
These Reports and Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its Reports and Accounts for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Reports and Accounts .
Broadbent Leathergoods Ltd
Statement of Financial Position (continued)
30 April 2024
These Reports and Accounts were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr T Whittome
Director
Company registration number: 07251697
Broadbent Leathergoods Ltd
Notes to the Reports and Accounts
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Earlsfield Business Centre, 9 Lydden Road, London, SW18 4LT.
2. Statement of compliance
These Reports and Accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The Reports and Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Reports and Accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
Over 5 years
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Equipment
£
Cost
At 1 May 2023 and 30 April 2024
1,465
-------
Depreciation
At 1 May 2023 and 30 April 2024
1,464
-------
Carrying amount
At 30 April 2024
1
-------
At 30 April 2023
1
-------
6. Debtors
2024
2023
£
£
Trade debtors
2,759
589
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
1,450
705
Other creditors
83,253
68,443
--------
--------
84,703
69,148
--------
--------
8. Director's advances, credits and guarantees
The director and controlling party T Whittome, interest free loan to the company at 30th April 2023 is £44,393.
9. Controlling interest
The company is controlled by Mr T Whittome by virtue of his directorship and 100% shareholding.