| REGISTERED NUMBER: |
| DIRECTOR'S REPORT AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| AUSTIN BROADY ASSOCIATES LIMITED |
| REGISTERED NUMBER: |
| DIRECTOR'S REPORT AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| AUSTIN BROADY ASSOCIATES LIMITED |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Director's Report | 2 |
| Accountants' Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| AUSTIN BROADY ASSOCIATES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 100 Barbirolli Square |
| Manchester |
| M2 3BD |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| DIRECTOR'S REPORT |
| for the Year Ended 31 October 2024 |
| The director presents his report with the financial statements of the company for the year ended 31 October 2024. |
| DIRECTOR |
| COMMENTARY ON PERFORMANCE |
| Whilst turnover increased during the year, profitability was lower than anticipated. This was primarily due to the company undertaking a speculative project aimed at developing internal expertise and building a foundation of knowledge in a new area of service delivery. |
| Although the project was delivered at reduced margins, it Is considered commercially successful and strategically valuable, having directly contributed to a strengthened market position. As a result, the company has already secured confirmed orders totalling to approximately £1.1 million for Q3 and Q4 of 2025, with projected orders of £1.2 million of the 2026 financial year. With the gained experience and having established new supply chains we would expect margins to improve on future projects. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| AUSTIN BROADY ASSOCIATES LIMITED |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us. |
| This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 100 Barbirolli Square |
| Manchester |
| M2 3BD |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| PROFIT AND LOSS ACCOUNT |
| for the Year Ended 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 4 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| BALANCE SHEET |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| The financial statements were approved by the director and authorised for issue on |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| STATEMENT OF CHANGES IN EQUITY |
| for the Year Ended 31 October 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 November 2022 |
| Profit for the year | - | 97,633 | 97,633 |
| Total comprehensive income | - |
| Dividends | - | ( |
) | ( |
) |
| Balance at 31 October 2023 |
| Profit for the year | - | 7,610 | 7,610 |
| Total comprehensive income | - |
| Dividends | - | ( |
) | ( |
) |
| Balance at 31 October 2024 |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| Austin Broady Associates Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07800812. The address of the registered office and principal place of business is Millgate, 58 The Hill, Sandbach, Cheshire, CW11 1HT. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the design, supply and project management of the installation of air conditioning and ventilation systems in commercial environments. |
| Tangible fixed assets |
| Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
| Computer Equipments - 25% on cost |
| At each balance sheet date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
| Taxation |
| Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current 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. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank and in hand. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2024 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 1,258 | 41 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 9) |
| AUSTIN BROADY ASSOCIATES LIMITED (REGISTERED NUMBER: 07800812) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2024 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary shares | 1 | 10 | 10 |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| Included within other creditors is a loan owing to the director of £1,258 (2024: £41). This loan is interest free and has no set repayment date. |