Stephen Broadbent Artworks Limited 03335871 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Artist Digita Accounts Production Advanced 6.30.9574.0 true 03335871 2024-04-01 2025-03-31 03335871 2025-03-31 03335871 bus:OrdinaryShareClass1 2025-03-31 03335871 core:RetainedEarningsAccumulatedLosses 2025-03-31 03335871 core:ShareCapital 2025-03-31 03335871 core:CurrentFinancialInstruments 2025-03-31 03335871 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 03335871 core:Non-currentFinancialInstruments 2025-03-31 03335871 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 03335871 core:FurnitureFittingsToolsEquipment 2025-03-31 03335871 core:MotorVehicles 2025-03-31 03335871 bus:SmallEntities 2024-04-01 2025-03-31 03335871 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 03335871 bus:FilletedAccounts 2024-04-01 2025-03-31 03335871 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03335871 bus:RegisteredOffice 2024-04-01 2025-03-31 03335871 bus:Director1 2024-04-01 2025-03-31 03335871 bus:Director2 2024-04-01 2025-03-31 03335871 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 03335871 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03335871 bus:Agent1 2024-04-01 2025-03-31 03335871 core:PlantMachinery 2024-04-01 2025-03-31 03335871 countries:England 2024-04-01 2025-03-31 03335871 2024-03-31 03335871 core:FurnitureFittingsToolsEquipment 2024-03-31 03335871 core:MotorVehicles 2024-03-31 03335871 2023-04-01 2024-03-31 03335871 2024-03-31 03335871 bus:OrdinaryShareClass1 2024-03-31 03335871 core:RetainedEarningsAccumulatedLosses 2024-03-31 03335871 core:ShareCapital 2024-03-31 03335871 core:CurrentFinancialInstruments 2024-03-31 03335871 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03335871 core:Non-currentFinancialInstruments 2024-03-31 03335871 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03335871

Stephen Broadbent Artworks Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Stephen Broadbent Artworks Limited

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Stephen Broadbent Artworks Limited

Company Information

Directors

Mr Stephen Broadbent

Mrs Lorraine Broadbent

Registered office

Droppingstone Farm
New Lane
Tattenhall
Chester
CH3 9LG

Accountants

Phil Owen & Co Limited
Chartered Accountant22 Pall Mall
Liverpool
Merseyside
L3 6AL

 

Stephen Broadbent Artworks Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

 

247,786

270,034

Cost of sales

 

(100,069)

(121,295)

Gross profit

 

147,717

148,739

Administrative expenses

 

(147,258)

(86,796)

Operating profit

 

459

61,943

Interest payable and similar charges

 

(267)

(419)

 

(267)

(419)

Profit before tax

192

61,524

Taxation

 

(654)

-

(Loss)/profit for the financial year

 

(462)

61,524

Retained earnings brought forward

 

31,673

(23,851)

Dividends paid

 

(6,000)

(6,000)

Retained earnings carried forward

 

25,211

31,673

 

Stephen Broadbent Artworks Limited

(Registration number: 03335871)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Stocks

5

11,500

8,000

Debtors

6

-

27,119

Cash at bank and in hand

 

107,734

130,797

 

119,234

165,916

Creditors: Amounts falling due within one year

7

(93,923)

(120,679)

Total assets less current liabilities

 

25,311

45,237

Creditors: Amounts falling due after more than one year

7

-

(13,464)

Net assets

 

25,311

31,773

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

25,211

31,673

Shareholders' funds

 

25,311

31,773

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

.........................................
Mr Stephen Broadbent
Director

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Droppingstone Farm
New Lane
Tattenhall
Chester
CH3 9LG

These financial statements were authorised for issue by the Board on 4 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

48,437

11,058

59,495

At 31 March 2025

48,437

11,058

59,495

Depreciation

At 1 April 2024

48,437

11,058

59,495

At 31 March 2025

48,437

11,058

59,495

Carrying amount

At 31 March 2025

-

-

-

5

Stocks

2025
£

2024
£

Work in progress

7,000

3,000

Other inventories

4,500

5,000

11,500

8,000

6

Debtors

Current

2025
£

2024
£

Trade debtors

-

27,119

 

-

27,119

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

37,342

60,848

Trade creditors

 

11,630

16,071

Taxation and social security

 

217

6,019

Accruals and deferred income

 

1,200

1,200

Other creditors

 

43,534

36,541

 

93,923

120,679

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

-

13,464

Current loans and borrowings

2025
£

2024
£

Bank borrowings

7,342

-

Bank overdrafts

-

30,848

Other borrowings

30,000

30,000

37,342

60,848

 

Stephen Broadbent Artworks Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

19,200

19,200

Contributions paid to money purchase schemes

1,286

1,287

20,486

20,487