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Registered number: 825154
Broxbourne Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
AFC Accounting Services Ltd
6 Darwell Close
Robertsbridge
East Sussex
TN32 5NN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 825154
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 1,191,600 1,191,600
1,191,600 1,191,600
CURRENT ASSETS
Debtors 6 45,709 78,029
Cash at bank and in hand 1,255,048 1,231,512
1,300,757 1,309,541
Creditors: Amounts Falling Due Within One Year 7 (14,472 ) (11,043 )
NET CURRENT ASSETS (LIABILITIES) 1,286,285 1,298,498
TOTAL ASSETS LESS CURRENT LIABILITIES 2,477,885 2,490,098
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,165 ) (66,245 )
NET ASSETS 2,390,720 2,423,853
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Revaluation reserve 11 474,880 474,880
Profit and Loss Account 1,914,840 1,947,973
SHAREHOLDERS' FUNDS 2,390,720 2,423,853
Page 1
Page 2
For the year ending 31 October 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Margaret Burns (formerly Williams)
Director
29/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Broxbourne Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 825154 . The registered office is 26 Granada, West Parade, Bexhill on Sea, East Sussex, TN39 3DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of rentals supplied by the company.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% pa reducing balance
Motor Vehicles 25% pa reducing balance
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 15,966
As at 31 October 2024 15,966
Depreciation
As at 1 November 2023 15,966
As at 31 October 2024 15,966
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
Investment property was valued in August 2022 by Messrs Hawkins & Hawkins, professional valuers and is RICS redbook compliant.
5. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 1,191,600
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 520
Prepayments and accrued income 4,409 4,409
Due from the Estate of John Baker Deceased 40,000 40,000
Director's loan account 1,300 33,100
45,709 78,029
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 4,899 3,042
Accruals 9,573 8,001
14,472 11,043
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4
Page 5
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mrs Margaret Burns (formerly Williams) 16,550 1,300 16,550 - 1,300
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mrs Margaret Burns (formerly Williams) 16,550 12,320
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 33,100 32,000
11. Reserves
Revaluation Reserve
£
As at 1 November 2023 474,880
As at 31 October 2024 474,880
Page 5