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COMPANY REGISTRATION NUMBER: 13257737
Broken Nib Ltd
Filleted Unaudited Financial Statements
31 March 2025
Broken Nib Ltd
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Broken Nib Ltd
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
3,907
1,756
Current assets
Stocks
683
1,425
Debtors
6
5,865
7,504
Cash at bank and in hand
43,248
41,182
--------
--------
49,796
50,111
Creditors: amounts falling due within one year
7
31,149
26,704
--------
--------
Net current assets
18,647
23,407
--------
--------
Total assets less current liabilities
22,554
25,163
--------
--------
Net assets
22,554
25,163
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
22,552
25,161
--------
--------
Shareholders funds
22,554
25,163
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have 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 Act with respect to accounting records and the preparation of financial statements .
Broken Nib Ltd
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 12 July 2025 , and are signed on behalf of the board by:
G A Goldston-Banning
Director
Company registration number: 13257737
Broken Nib Ltd
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible 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.
Depreciation
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:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2024
3,602
Additions
3,205
-------
At 31 March 2025
6,807
-------
Depreciation
At 1 April 2024
1,846
Charge for the year
1,054
-------
At 31 March 2025
2,900
-------
Carrying amount
At 31 March 2025
3,907
-------
At 31 March 2024
1,756
-------
6. Debtors
2025
2024
£
£
Trade debtors
5,243
6,929
Other debtors
622
575
-------
-------
5,865
7,504
-------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
328
301
Corporation tax
8,243
5,215
Social security and other taxes
1,527
2,674
Other creditors
21,051
18,514
--------
--------
31,149
26,704
--------
--------
8. Director's advances, credits and guarantees
During the year, the director was advanced £3,250 and made repayments of £3,250. Interest has not been charged.
9. Related party transactions
At the year end the company owed a director £17,717 (2024: £15,437).