Broadgate Developments Group Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08167447

Broadgate Developments Group Ltd

Filleted Unaudited Financial Statements

31 December 2024

Broadgate Developments Group Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Broadgate Developments Group Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Current assets

Debtors	6	–	190
Cash at bank and in hand		–	312
		----	----
		–	502

Creditors: amounts falling due within one year	7	418,323		403,137
		----------		----------
Net current liabilities			418,323		402,635
			----------		----------
Total assets less current liabilities			( 418,323)		( 402,635)

Creditors: amounts falling due after more than one year	8	–	16,460
		----------	----------
Net liabilities		( 418,323)	( 419,095)
		----------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 418,423)	( 419,195)
	----------	----------
Shareholder deficit	( 418,323)	( 419,095)
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- 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 ;

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

Broadgate Developments Group Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr. P. J. Young
Director

Company registration number: 08167447

Broadgate Developments Group Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The going concern basis has been used. Of the company's liabilities £367,332 is owed to the director and it has been agreed that repayment will not be demanded whilst such action would adversely affect the company's operations. The director expects the major creditors, because of the nature of their relationship with the company, to continue with their support for at least twelve months from the date of approval of the financial statements. If the going concern basis were not appropriate, adjustments would have to be made to restate fixed assets as current assets, reduce the value of the assets to their recoverable amount and to provide for any further liabilities that might arise.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor Vehicles	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Motor vehicles	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	30,657	30,657
	--------	--------
Depreciation
At 1 January 2024 and 31 December 2024	30,657	30,657
	--------	--------
Carrying amount
At 31 December 2024	–	–
	--------	--------
At 31 December 2023	–	–
	--------	--------

6. Debtors

	2024	2023
	£	£
Other debtors	–	190
	----	----

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	4,623	2,126
Trade creditors	5,185	4,103
Accruals and deferred income	1,500	1,500
Social security and other taxes	2,138	–
Obligations under finance leases and hire purchase contracts	5,730	–
Director loan accounts	367,332	363,593
Other creditors	31,815	31,815
	----------	----------
	418,323	403,137
	----------	----------

The bank loans and overdrafts amount relates to a Bounce Back loan which is secured by a government guarantee.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	3,383
Obligations under finance leases and hire purchase contracts	–	13,077
	----	--------
	–	16,460
	----	--------

The bank loans and overdrafts amount relates to a Bounce Back loan which is secured by a government guarantee.