1.
General Information
Broadland Construction Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02748789
. The registered office is Unit 12, The Oaks Revenge Road, Lordswood, Chatham, Kent, ME5 8LF.
The financial statments are prepared in Pounds Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statments are rounded to the nearest £1.
2.
Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
3.
Accounting Policies
3.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
At the time of approving the financial statments, the directors have reasonable expectation the the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the Going Concern basis of accounting in preparing the financial statements.
3.2.
Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that period,
or in the period of the revision and future periods where the revision affects both current and future periods.
The following judgements have had the most significant effect on amounts recognised in the financial statements.
Long term contracts
Profit recognition on long term contracts is based on an assessment of the overall profitability forecast on
individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors
when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that
part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit
attributable to work performed at the accounting date.
Impairment
Determine whether there are indicators of impairment of the tangible and intangible assets, including goodwill.
Factors taken into consideration in reaching such a decision include the economic viability and expected future
financial performance of the asset.
3.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Constuction Contracts
Where the outcome of a construction contract can be estimated reliabily, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Stage of completion is measured by reference to either costs to date against total expected contact costs or work certified to date against total contract price, whichever method is deemed the most reliable.
When it is probable that the total contract cost will exceed total turnover, the expected loss is recognised as an expense immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised to the extent of contract costs incurred wheer it is probable what they will be recoverable.
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
3.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended.
Tangible fixed assets are assessed for impairment at each reporting date. If tangible fixed assets are impaired, the carrying amount is reduced to its recoverable amount and the impairment loss is recognised in the profit and loss in the period it is reported.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
3.5.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.6.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabiliites like trade and ither debtors and creditors.
3.7.
Taxation
Income 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 statement of comprehensive income 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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.8.
Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3.9.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
3.10.
Debtors
Short term debtors are measured at transaction price, less any imapirments for bad and doubtful debts.
3.11.
Prepayments
Prepayments consist of expenses paid in advance.
3.12.
Creditors
Short term creditors are measured at the transaciton price.
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 150,000 | - | ||
5.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
6.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
8.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Manufacturing |
|
|
|
| Directors |
|
|
|
| Surveyors |
|
|
|
| Trainee surveyors |
|
|
|
|
|
|
||
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
9.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
Information regarding the highest paid director was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
10.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Parent company loan interest | 2,311 | 3,056 | |
| HMRC interest receieved | 477 | - | |
| 2,788 | 3,056 | ||
11.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
12.
Tax on Profit
|
The tax charge on the profit for the year was as follows:
|
|||
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Current tax | |||
| UK Corporation Tax |
|
|
|
| Deferred Tax | |||
| Deferred taxation |
|
( |
|
| Total tax charge for the period |
|
|
|
|
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||
| 2025 | 2024 | ||
| £ | £ | ||
| Profit before tax | 190,979 | 358,042 | |
| Tax on profit at 25% (UK standard rate) |
|
|
|
| Expenses not deductible for tax purposes |
|
|
|
...CONTINUED
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Capital allowances |
( |
( |
|
| Short term timing differences |
|
( |
|
| Total tax charge for the period | 54,448 | 91,938 | |
13.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
|
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 April 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
|
( |
( |
| As at 31 March 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2025 |
|
|
|
|
|
| As at 1 April 2024 |
|
|
|
|
|
14.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by group undertakings | 1,121,029 | 1,560,829 | |
| Other debtors | 203,946 | 76,615 | |
|
|
|
||
| Due after more than one year | |||
| Other debtors | 4,209 | - | |
|
|
|
||
15.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 103,351 | 447,590 | |
| Corporation tax |
|
|
|
| Taxation and social security | 97,785 | 149,414 | |
|
|
|
||
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
Than bank have a composite guarantee dated 4th August 2011 between group companies.
The bank also hold a unlimited inter company guarantee dated 24th February 2021 between group companies.
16.
Deferred Taxation
|
£
|
|
|
Balance at 1st April 2022
|
(10,331)
|
|
Charge to income statment during year
|
1,094
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|
|
Balance at 31st March 2023
|
(9,237)
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|
18.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £22,439 (2024: £68,329).
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
19.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
20.
Related Party Disclosures
20.
Related Party Disclosures - continued
The company received/(paid) managment charges, interest and dividends from/to its related parties as follow:
|
Management
|
Interest
|
Dividends
|
|
|
Charges
|
|||
|
£
|
£
|
£
|
|
|
Faithdean Plc
|
(37,680)
|
2,310
|
-
|
|
Faithdean Holdings Ltd
|
150,000
|
-
|
(80,000)
|
The company was charged rent and traded with its related parties during the year as follows:
|
Rent and services
|
Sales
|
Purchases
|
|
|
£
|
£
|
£
|
|
|
Fatihdean Plc
|
7,751
|
-
|
83,722
|
The company had trading and intercompany balances at 31st March 2025 with its related parties as follows:
...CONTINUED
Broadland Construction Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
|
Debtor
|
Creditor
|
|
|
£
|
£
|
|
|
Faithdean Plc
|
-
|
31,827
|
|
Faithdean Holdings Ltd
|
1,121,028
|
-
|
21.
Controlling Parties
The ultimate parent undertaking is Faithdean Hodlings Limted. Its registered office is Unit 12, The Oaks Revenge Road, Lordswood, Chatham, Kent, ME5 8LF, a company incorporated in England and Wales.
Copies of the group accounts may be obtained from the company's registered office