In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Broadstream Holdings Limited for the year ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Broadstream Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 12 August 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Broadstream Holdings Limited and state those matters that we have agreed to state to the board of directors of Broadstream Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Broadstream Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Broadstream Holdings Limited 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 of Broadstream Holdings Limited. You consider that Broadstream Holdings Limited 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 Broadstream Holdings Limited. 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Broadstream Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Lane, Ipswich, IP6 0EQ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in the other administrative expenses.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons employed by the company during the year was:

Other borrowings includes debenture loans of £246k (2023: £246k) which attracts interest at the rate of 4% and is secured by way of fixed and floating charges over the assets of the company. It also includes unsecured loan notes of £230k (2023: £230k) which attracts interest of 4%. These are repayable on demand.

The total analysis of long term creditors and loan notes are as follows:

Unsecured Loan Notes

Unsecured loan note C        £3,380,000

Unsecured loan note D        £1,000,000

Total                £4,380,000

The unsecured loan notes do not carry interest and are considered to be long term creditors. Both loan notes are subject to a formal agreement and instrument dates 30th October 2018.

Unsecured loan note C amounts to £3,380,000. The company may repay part or all of the principal part of this loan note by giving notice to the loan note holder. No notice has been given. The full repayment will be immediately prior to any sale of the company.

Unsecured loan note D amounts to £1,000,000. The company may repay or cancel loan note D at the discretion of the board of directors. Currently there are no plans or decisions to repay loan note D and it is anticipated that repayment will be the same as loan note C and at the sale of the company.

All share classes rank pari passu in all respects, save for their rights to dividends. Each individual share class carries its own entitlement to dividends, which are payable in such amounts and at such times as may be determined and declared by the Company.

The following amounts were outstanding at the reporting end date:

Of the amounts due to Key Management Personnel, it includes unsecured loan notes of £230k (2023: £230k) which attracts interest of 4%. These are to be repaid on 31 October 2024.

Unsecured Loan Notes

Unsecured loan note C        £3,380,000

Unsecured loan note D        £1,000,000

Total                £4,380,000

The unsecured loan notes do not carry interest and are considered to be long term creditors. Both loan notes are subject to a formal agreement and instrument dates 30th October 2018.

Unsecured loan note C amounts to £3,380,000. The company may repay part or all of the principal part of this loan note by giving notice to the loan note holder. No notice has been given. The full repayment will be immediately prior to any sale of the company.

Unsecured loan note D amounts to £1,000,000. The company may repay or cancel loan note D at the discretion of the board of directors. Currently there are no plans or decisions to repay loan note D and it is anticipated that repayment will be the same as loan note C and at the sale of the company.

The company has taken advantage of the exemption under the terms of FRS102 not to disclose related party transactions with wholly owned subsidiaries within the group.