ACCOUNTS - Final Accounts preparation

Registered number: 05408252

The Broadband Computer Company Limited

Financial statements

Information for filing with the registrar

31 December 2024


The Broadband Computer Company Limited

Balance sheet

At 31 December 2024

		2024		2023
Note		£		£


Current assets
Debtors	4	3,471		2,403
Cash at bank and in hand		5,186		1,987
		8,657		4,390
Creditors: amounts falling due within one year	5	(884,412)		(860,172)
Net current liabilities			(875,755)		(855,782)
Total assets less current liabilities			(875,755)		(855,782)

Net liabilities			(875,755)		(855,782)

Capital and reserves
Called up share capital	6	37,439	37,439
Profit and loss account		(913,194)	(893,221)
		(875,755)	(855,782)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on by: 20 May 2025.

J B M Leslie

Director

Registered number: 05408252
The notes on pages 2 to 5 form part of these financial statements.


The Broadband Computer Company Limited

Notes to the financial statements

Year ended 31 December 2024

1.	General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Citygate, St James' Boulevard, Newcastle upon Tyne, Tyne and Wear, NE1 4JE.

2.Accounting policies

2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company's principal activity is described in the directors report.
The directors have prepared cash flow forecasts for the coming period, taking into account expected trading cash flows and other cash requirements. The company continues to meet its day-to-day working capital requirements through direct financial support from the directors and shareholders of its ultimate controlling party Alex Media Technology Inc. who have indicated a continuation of this support. The financial statements have therefore been produced on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Revenue recognition

The turnover shown in the profit and loss account represents subscription income recognised in the year to which it relates.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.


The Broadband Computer Company Limited

Notes to the financial statements

Year ended 31 December 2024

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023: 2).


The Broadband Computer Company Limited

Notes to the financial statements

Year ended 31 December 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	3,132	1,306
Prepayments and accrued income	289	671
Other debtors	50	426
	3,471	2,403

5.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	76,694	69,378
Amounts owed to group undertakings	187,959	189,531
Other taxation and social security	-	404
Other creditors	615,132	596,336
Accruals and deferred income	4,627	4,523
	884,412	860,172

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

37,439 (2023 : 37,439) Ordinary shares of £1.00 each	37,439	37,439


The Broadband Computer Company Limited

Notes to the financial statements

Year ended 31 December 2024

Related party transactions

During the year under review the company loaned £1,572 (2023: £2,151) to Alex Media Technology Inc (a company in which J Dixon and JBM Leslie are directors). At the year end the company owed Alex Inc £187,959 (2023: £189,531). This loan is unsecured, interest free and repayable on demand.
At the year end the company owed Secure Coast Technologies Limited (a company in which JBM Leslie is sole director) £6,000 (2023: £6,000). This loan is unsecured, interest free and repayable on demand.
During the year under review the company loaned £913 (2023: £913) to Broadmedia Holdings Limited (a company in which J Dixon and JBM Leslie are directors). At the year end the company was owed £1,826 (2023: £913). This loan is unsecured, interest free and repayable on demand.
During the year under review the company loaned £913 (2023: £393) to Alex Media Technology Limited (a company in which J Dixon and JBM Leslie are directors). At the year end the company was owed £1,306 (2023: £393). This loan is unsecured, interest free and repayable on demand.

8.	Controlling party

Alex Media Technology Ltd, is the parent company (registered in England and Wales) and Alex Media Technology Inc is considered to be the ultimate controlling party, incorporated in New Brunswick, Canada.