Broadthunder Accounting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07770313 (England and Wales)

Broadthunder Accounting Limited

Unaudited Financial Statements For The Year Ended 30 September 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C E Lucas

REGISTERED OFFICE:

164 Walkden Road

Worsley

Manchester

M28 7DP

REGISTERED NUMBER:

07770313 (England and Wales)

ACCOUNTANT:

Huddart

Chartered Accountants

164 Walkden Road

Walkden

Worsley

Manchester

M28 7DP

FIXED ASSETS

Intangible assets

4

132,174

170,479

Tangible assets

5

10,509

3,984

142,683

174,463

CURRENT ASSETS

Stocks

37,536

24,944

Debtors

6

80,604

58,419

Cash at bank and in hand

137,833

54,861

255,973

138,224

CREDITORS

Amounts falling due within one year

7

157,136

114,108

NET CURRENT ASSETS

98,837

24,116

TOTAL ASSETS LESS CURRENT LIABILITIES

241,520

198,579

CREDITORS

Amounts falling due after more than one year

8

(66,569

)

(71,624

)

PROVISIONS FOR LIABILITIES

(1,998

)

(757

)

NET ASSETS

172,953

126,198

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

172,853

126,098

SHAREHOLDERS' FUNDS

172,953

126,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2021 and were signed by:

C E Lucas - Director

1.	STATUTORY INFORMATION

Broadthunder Accounting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Goodwill

Goodwill relates to the acquisition prices of businesses acquired since 2011 and is being written off over its estimated useful life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2019 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

375,124

AMORTISATION

At 1 October 2019

204,645

Charge for year

38,305

At 30 September 2020

242,950

NET BOOK VALUE

At 30 September 2020

132,174

At 30 September 2019

170,479

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2019

17,730

Additions

11,180

Disposals

(3,288

)

At 30 September 2020

25,622

DEPRECIATION

At 1 October 2019

13,746

Charge for year

4,655

Eliminated on disposal

(3,288

)

At 30 September 2020

15,113

NET BOOK VALUE

At 30 September 2020

10,509

At 30 September 2019

3,984

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

67,364

48,189

Other debtors

13,240

10,230

80,604

58,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

2

-

Taxation and social security

90,699

56,600

Other creditors

66,435

57,508

157,136

114,108

Included in other creditors are the following:

A loan of £48,000 from the Director's Pension Scheme this repayable at £4,000 a month and interest is charged at 6% per annum..

A loan of £12,000 from a Shareholder's Pension Scheme this repayable at £1,000 a month and Interest is charged at 6% per annum..

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

66,569

71,624

Included in other creditors are the following:

A loan from the Director's Pension Scheme is repayable by December 2021. Interest is charged at a rate of 6% per annum. At 30 September 2020 the balance due was £6,689 (2019: £56,239)

A loan from a Shareholder's Pension Scheme is repayable by December 2021. Interest is charged at a rate of 6% per annum. At 30 September 2017 the balance due was £35,781 (2019: £6,996)