Company registration number 10180475 (England and Wales)
BROKER'S CHOICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
BROKER'S CHOICE LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
1
1
Current assets
Debtors
5
5,471
24,625
Cash at bank and in hand
166
194
5,637
24,819
Creditors: amounts falling due within one year
6
(1,500)
(7,640)
Net current assets
4,137
17,179
Total assets less current liabilities
4,138
17,180
Creditors: amounts falling due after more than one year
7
(1,625)
(3,125)
Net assets
2,513
14,055
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
2,512
14,054
Total equity
2,513
14,055
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 16 December 2024
Mr R B K Verma
Director
Company registration number 10180475 (England and Wales)
BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Broker's Choice Limited is a private company limited by shares incorporated in England and Wales. The registered office is .
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:
Computers
One-third of cost per annum
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
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 deducting all of its liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 and 31 May 2024
1,095
Depreciation and impairment
At 1 June 2023 and 31 May 2024
1,094
Carrying amount
At 31 May 2024
1
At 31 May 2023
1
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,700
Other debtors
2,771
24,625
5,471
24,625
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,500
1,500
Corporation tax
5,600
Other creditors
540
1,500
7,640
BROKER'S CHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,625
3,125
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
9
Related party transactions
Included within debtors is the amount of £2,771 (2023 - £24,625) owed by the director.