ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 09884271

10 THE BROADWAY HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

10 THE BROADWAY HOLDINGS LIMITED

REGISTERED NUMBER: 09884271

BALANCE SHEET

AS AT 30 NOVEMBER 2024

	2024	2024	2023	2023
Note	£	£	£	£

Fixed assets
Investments	4		1		1
Current assets
Stocks		825,000		848,207
Debtors: amounts falling due within one year	5	28,374		6,138
Cash at bank and in hand		3,807		2,912
		857,181		857,257
Creditors: amounts falling due within one year	6	(343,932)		(299,785)
Net current assets			513,249		557,472
Creditors: amounts falling due after more than one year	7		(649,738)		(624,000)
Net liabilities			(136,488)		(66,527)

Capital and reserves
Called up share capital	74	74
Profit and loss account	(136,562)	(66,601)
	(136,488)	(66,527)

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10 THE BROADWAY HOLDINGS LIMITED

REGISTERED NUMBER: 09884271

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2024

The director considers 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 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 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 on 18 May 2026.

P E Summers

Director

The notes on pages 3 to 6 form part of these financial statements.

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10 THE BROADWAY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

1.	General information

10 The Broadway Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 62 Salisbury Road, Walmer, Deal, Kent, England, CT14 7QJ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Going concern

The accounts have been prepared on a going concern basis. The company owes an amount to its wholly owned subsidiary which will not be called upon until this company has made sufficient profits to fully do so. At the time of approval of these accounts the director is of the opinion that the company will continue in operation for the foreseeable future.

2.4

Revenue

Revenue for the period comprised rental income from stock currently held for resale.

2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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10 THE BROADWAY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

2.8

Stocks

Stock comprises long leasehold property held for development and resale. The cost included in stock includes all purchases and developments made on the property during the period. All purchases have been included at their original cost price.

At the balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete. Any impairment loss is recognised immediately in the Statement of income and retained earnings.

2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.10

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.

2.11

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 December 2023	1
	At 30 November 2024	1

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10 THE BROADWAY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	2,588	2,588
Prepayments and accrued income	25,786	3,550
	28,374	6,138

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Amounts owed to group undertakings	212,262	212,262
Other creditors	123,974	79,823
Accruals and deferred income	7,696	7,700
	343,932	299,785

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Bank loans	649,738	624,000

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
	2024	2023
	£	£

Repayable other than by instalments

649,738

624,000

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10 THE BROADWAY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024




Amounts falling due after more than 5 years
Bank loans	649,738	624,000

Secured loans

Bank loans amounting to £649,738 (2023 - £624,000) are secured by way of fixed charge over the stock of property and floating charges over all other assets held by the company. In addition, personal guarantees amounting to £649,738 have been provided by the company's ultimate controlling individuals.

9.	Related party transactions
	The company has taken advantage of the exemption from disclosing transactions with group companies, available under FRS102 (Section 33). Included within other creditors is an amount of £123,974 (2023 - £79,823) owed to the director by the Company.

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