ACCOUNTS - Final Accounts preparation

Registered number: 10642636

BROAD STREET UNIT B LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

BROAD STREET UNIT B LIMITED

REGISTERED NUMBER: 10642636

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investment property		415,122		415,122
		415,122		415,122
Current assets
Debtors	12,600		12,600
Cash at bank and in hand	26,663		10,751
	39,263		23,351
Creditors: amounts falling due within one year	(504,546)		(517,981)
Net current liabilities		(465,283)		(494,630)
Total assets less current liabilities		(50,161)		(79,508)

Net liabilities		(50,161)		(79,508)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(50,162)	(79,509)
	(50,161)	(79,508)

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BROAD STREET UNIT B LIMITED

REGISTERED NUMBER: 10642636

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

N O'Reilly

Director

Date: 23 December 2025

The notes on pages 3 to 7 form part of these financial statements.

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BROAD STREET UNIT B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Broad Street Unit B Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Company registration number 10642636. The address of its registered office is 10 Lower Thames Street, London, EC3R 6EN, and the address of its principal place of business is 200 Broad Street, Birmingham, B15 1SU.
The principal activity of the Company is that of a property business.
These financial statements are presented in Pounds Sterling (£), this being the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The directors have reviewed forecast turnover and profitability of the business and are satisfied that the company has adequate resources to continue in business for the forseeable future. The Company also benefits from support of its parent company, Cumberland House BPRA LLP, and therefore the directors believe that the company can continue as a going concern and that it is appropriate to prepare the accounts on a going concern basis.
If the Company is unable to continue in operational existence for the forseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, provide for further liabilities that may arise and reclassify fixed assets as current assets.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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BROAD STREET UNIT B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

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BROAD STREET UNIT B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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BROAD STREET UNIT B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Investment property

		Long term leasehold investment property
		£
	Valuation
	At 1 April 2024	415,122
	At 31 March 2025	415,122

The 2025 valuations were made by the directors, on an open market value for existing use basis.


	At 31 March 2025

Debtors

					2025	2024
					£	£



Trade debtors	12,600	12,600
	12,600	12,600

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	26,663	10,751
	26,663	10,751

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BROAD STREET UNIT B LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	4,800	-
Amounts owed to group undertakings	476,486	483,656
Corporation tax	9,768	18,332
Other taxation and social security	1,300	1,600
Accruals and deferred income	12,192	14,393
	504,546	517,981

Amounts due to group undertakings are unsecured, interest free and repayable on demand.

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

9.Guarantees

The Company has guaranteed, along with other group companies, the bank and other borrowings for fellow group companies by the way of fixed and floating charges over the assets of the Company. At the year end the liabilities covered by these guarantees totalled £19,720,776 (2024 - £19,720,776).

10.	Controlling party

The Company is a wholly owned subsidiary of Cumberland House BPRA Property Fund LLP, which is incorporated in England and Wales. The address of its registered office is 10 Lower Thames Street, London, EC3R 6EN.
The LLP is controlled by its Members as delegated to the management team and as such there is no one controlling party.

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