IRIS Accounts Production v24.3.2.46 04943269 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049432692023-06-30049432692024-06-30049432692023-07-012024-06-30049432692022-06-30049432692022-07-012023-06-30049432692023-06-3004943269ns15:EnglandWales2023-07-012024-06-3004943269ns14:PoundSterling2023-07-012024-06-3004943269ns10:Director12023-07-012024-06-3004943269ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3004943269ns10:SmallEntities2023-07-012024-06-3004943269ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3004943269ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3004943269ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3004943269ns10:FullAccounts2023-07-012024-06-3004943269ns5:CurrentFinancialInstruments2024-06-3004943269ns5:CurrentFinancialInstruments2023-06-3004943269ns5:Non-currentFinancialInstruments2024-06-3004943269ns5:Non-currentFinancialInstruments2023-06-3004943269ns5:ShareCapital2024-06-3004943269ns5:ShareCapital2023-06-3004943269ns5:RetainedEarningsAccumulatedLosses2024-06-3004943269ns5:RetainedEarningsAccumulatedLosses2023-06-300494326912023-07-012024-06-3004943269ns5:LandBuildings2023-06-3004943269ns5:PlantMachinery2023-06-3004943269ns5:MotorVehicles2023-06-3004943269ns5:ComputerEquipment2023-06-3004943269ns5:LandBuildings2023-07-012024-06-3004943269ns5:PlantMachinery2023-07-012024-06-3004943269ns5:MotorVehicles2023-07-012024-06-3004943269ns5:ComputerEquipment2023-07-012024-06-3004943269ns5:LandBuildings2024-06-3004943269ns5:PlantMachinery2024-06-3004943269ns5:MotorVehicles2024-06-3004943269ns5:ComputerEquipment2024-06-3004943269ns5:LandBuildings2023-06-3004943269ns5:PlantMachinery2023-06-3004943269ns5:MotorVehicles2023-06-3004943269ns5:ComputerEquipment2023-06-3004943269ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3004943269ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3004943269ns10:Director22023-07-012024-06-3004943269ns10:Director222023-06-3004943269ns10:Director222022-06-3004943269ns10:Director222023-07-012024-06-3004943269ns10:Director222022-07-012023-06-3004943269ns10:Director222024-06-3004943269ns10:Director222023-06-30049432691ns10:Director12023-06-30049432691ns10:Director12022-06-30049432691ns10:Director12023-07-012024-06-30049432691ns10:Director12022-07-012023-06-30049432691ns10:Director12024-06-30049432691ns10:Director12023-06-300494326912023-07-012024-06-30
REGISTERED NUMBER: 04943269 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Broadland Drywall Ltd

Broadland Drywall Ltd (Registered number: 04943269)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Broadland Drywall Ltd (Registered number: 04943269)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 114,499 135,520

Current assets
Stocks 2,000 1,000
Debtors 5 162,349 177,946
Cash at bank and in hand 160,507 190,762
324,856 369,708
Creditors
Amounts falling due within one year 6 (107,589 ) (114,419 )
Net current assets 217,267 255,289
Total assets less current liabilities 331,766 390,809

Creditors
Amounts falling due after more than one
year

7

(49,603

)

(59,258

)

Provisions for liabilities (13,313 ) (18,165 )
Net assets 268,850 313,386

Capital and reserves
Called up share capital 100 100
Retained earnings 268,750 313,286
268,850 313,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Broadland Drywall Ltd (Registered number: 04943269)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr M A Ryder - Director


Broadland Drywall Ltd (Registered number: 04943269)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only partially completed at the balance sheet date turnover represents the value of service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% p.a. on reducing balance and 15% p.a. on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Broadland Drywall Ltd (Registered number: 04943269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. Accounting policies - continued

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.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Broadland Drywall Ltd (Registered number: 04943269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3. Employees and directors

The average number of employees during the year was 6 (2023 - 5 ) .

Broadland Drywall Ltd (Registered number: 04943269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. Tangible fixed assets
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 July 2023 80,554 11,153 99,981 3,417 195,105
Disposals - - (14,701 ) - (14,701 )
Reclassification/transfer - 997 - (997 ) -
At 30 June 2024 80,554 12,150 85,280 2,420 180,404
Depreciation
At 1 July 2023 17,694 9,883 29,588 2,420 59,585
Charge for year 1,611 340 17,107 - 19,058
Eliminated on disposal - - (12,738 ) - (12,738 )
At 30 June 2024 19,305 10,223 33,957 2,420 65,905
Net book value
At 30 June 2024 61,249 1,927 51,323 - 114,499
At 30 June 2023 62,860 1,270 70,393 997 135,520

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 73,076 102,151
Other debtors 89,273 75,795
162,349 177,946

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 4,663 4,563
Hire purchase contracts 5,544 4,493
Trade creditors 65,252 83,903
Taxation and social security 23,743 10,361
Other creditors 8,387 11,099
107,589 114,419

Broadland Drywall Ltd (Registered number: 04943269)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 11,086 15,197
Hire purchase contracts 38,517 44,061
49,603 59,258

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
Mr S D Brown
Balance outstanding at start of year 54,183 48,115
Amounts advanced 74,356 73,380
Amounts repaid (70,459 ) (67,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,080 54,183

Mr M A Ryder
Balance outstanding at start of year 15,501 9,260
Amounts advanced 93,402 73,553
Amounts repaid (91,171 ) (67,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,732 15,501

Interest amounting to £1,781 (2023 - £1,366) has been charged on the above loans at HM Revenue & Customs' authorised rates.

9. Related party disclosures

During the year, total dividends of £108,370 (2023 - £96,400) were paid to the directors and their spouses.

10. Ultimate controlling party

During the year ended 30 June 2024 the company was controlled jointly by Mr M A Ryder and Mr S D Brown.