D P Broadhurst Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

D P Broadhurst Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09287667 . The registered office is Office Block 1 Prothero Industrial Estate, Bilport Lane, Wednesbury, West Midlands, WS10 0NT.

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

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duties. The following criteria must be met before income is recognised:

Rental income

Rental income arising from operating leases on properties owned by the Company is accounted for on a straight line basis over the period commencing on the later of the start of the lease or acquisition of the property by the Company, and ending on the end of the lease, unless it is reasonably certain that the break option will be exercised. Rental income revenue excludes service charges and other costs directly recoverable from tenants.

Sale of properties

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership of the properties have passed to the buyer, usually when legally binding contracts which are irrevocable and unconditional are exchanged. Revenue is, therefore, recognised when legal title passes to the purhcaser, on completion.

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is possible that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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	15% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	15% on cost

2.4. Investment Properties

Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any direct attributable expenditure. Subsequently it is measured at fair value at the reporting year end date.

2.5. Stocks and Work in Progress

Stock is valued at the lower of cost and net realisable value.

2.6. Taxation

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 profit and loss account because of items of income or expense that are taxable or deductible in other years 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.

...CONTINUED

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D P Broadhurst Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

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 assets reflect 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.

2.7. Minimum Energy Efficiency Standards (MEES)

Provision had previously been made in the accounts for the estimated expenditure to be incurred by the company on work required on investment properties in order to comply with MEES legislation, and where the resultant work does not result in the value of the investment properties being enhanced by way of increased rental income.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	483,169	11,550	26,821	521,540
Additions	91,241	13,744	5,462	110,447

As at 31 December 2024	574,410	25,294	32,283	631,987

Depreciation
As at 1 January 2024	465,083	5,172	16,034	486,289
Provided during the period	21,662	5,623	4,035	31,320

As at 31 December 2024	486,745	10,795	20,069	517,609

Net Book Value
As at 31 December 2024	87,665	14,499	12,214	114,378

As at 1 January 2024	18,086	6,378	10,787	35,251

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	6,301,315
Additions	380,000
Disposals	(93,415 )

As at 31 December 2024	6,587,900

6. Stocks

	2024	2023
	£	£
Stock - property held for sale	615,719	615,719

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D P Broadhurst Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	21,889	51,748
Prepayments and accrued income	-	4,066
Sundry debtors	4,436	12,559
Other debtors (2)	6,700	10
Director's loan account	1,396,585	585,862
Amounts owed by group undertakings	450,626	550,626

	1,880,236	1,204,871
Due after more than one year
Corporation tax recoverable assets	344,785	-

	2,225,021	1,204,871

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	85,360	19,464
Corporation tax	655,088	351,898
Other taxes and social security	1,760	2,402
VAT	17,011	55,029
Net wages	-	3,440
Other creditors	304,936	285,855
Accruals and deferred income	12,766	16,824

	1,076,921	734,912

9. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 January 2024	598,173	1,000,000	1,598,173
Deferred taxation	17,177	-	17,177

Balance at 31 December 2024	615,350	1,000,000	1,615,350

The provision of £1,000,000 is in respect of an estimate of expenditure required in order to comply with Minimum Energy Efficiency Standards.

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	110	110

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D P Broadhurst Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Christian Broadhurst	585,862	1,185,723	375,000	-	1,396,585

12. Related Party Transactions

Transaction with related parties

During the period the company received rent from related parties of £119,958 (2023 £143,902).

At the balance sheet date the company was owed £100 from entities with control, joint control or significant influence over the company (2023 £100).

At the balance sheet date the company was owed £450,526 by other related parties (2023 £550,526).

13. Ultimate Controlling Party

The ultimate parent company at the balance sheet date was David Broadhurst Limited, a company registered in the United Kingdom.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		114,378		35,251
Investment Properties	5		6,587,900		6,301,315

			6,702,278		6,336,566
CURRENT ASSETS
Stocks	6	615,719		615,719
Debtors	7	2,225,021		1,204,871
Cash at bank and in hand		303,976		851,550

		3,144,716		2,672,140
Creditors: Amounts Falling Due Within One Year	8	(1,076,921 )		(734,912 )

NET CURRENT ASSETS (LIABILITIES)			2,067,795		1,937,228

TOTAL ASSETS LESS CURRENT LIABILITIES			8,770,073		8,273,794

PROVISIONS FOR LIABILITIES
Provisions For Charges	9		(1,000,000 )		(1,000,000 )
Deferred Taxation			(615,350 )		(598,173 )

NET ASSETS			7,154,723		6,675,621

CAPITAL AND RESERVES
Called up share capital	10		110		110
Profit and Loss Account			7,154,613		6,675,511

SHAREHOLDERS' FUNDS			7,154,723		6,675,621