Broadway Kitchens and Bedrooms Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03801742 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2021

for

Broadway Kitchens & Bedrooms (Midlands)

Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

Mr S S Sembhy

Mr A Kandola

Mr M S Sembhy

SECRETARY:

Mr S S Sembhy

REGISTERED OFFICE:

84 Bath Street

Walsall

West Midlands

WS1 3DE

REGISTERED NUMBER:

03801742 (England and Wales)

ACCOUNTANTS:

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Broadway Kitchens & Bedrooms (Midlands) Limited for the year ended 30 September 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Broadway Kitchens & Bedrooms (Midlands) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Broadway Kitchens & Bedrooms (Midlands) Limited and state those matters that we have agreed to state to the Board of Directors of Broadway Kitchens & Bedrooms (Midlands) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Broadway Kitchens & Bedrooms (Midlands) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Broadway Kitchens & Bedrooms (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Broadway Kitchens & Bedrooms (Midlands) Limited. You consider that Broadway Kitchens & Bedrooms (Midlands) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Broadway Kitchens & Bedrooms (Midlands) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Anil K Bhagi Chartered Accountants

and Registered Auditors

91 Soho Hill

Hockley

Birmingham

West Midlands

B19 1AY

20 May 2022

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

155,855

171,963

Investments

6

299,936

299,936

455,791

471,899

CURRENT ASSETS

Stocks

95,000

61,000

Debtors

7

67,735

128,797

Cash at bank and in hand

521,645

112,077

684,380

301,874

CREDITORS

Amounts falling due within one year

8

412,798

296,577

NET CURRENT ASSETS

271,582

5,297

TOTAL ASSETS LESS CURRENT LIABILITIES

727,373

477,196

CREDITORS

Amounts falling due after more than one year

9

(204,167

)

-

PROVISIONS FOR LIABILITIES

(29,612

)

(31,358

)

NET ASSETS

493,594

445,838

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

493,494

445,738

SHAREHOLDERS' FUNDS

493,594

445,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 20 May 2022 and were signed on its behalf by:

Mr A Kandola - Director

1.	STATUTORY INFORMATION

Broadway Kitchens & Bedrooms (Midlands) 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

760,921

Additions

26,284

Disposals

(177,733

)

At 30 September 2021

609,472

DEPRECIATION

At 1 October 2020

588,958

Charge for year

31,419

Eliminated on disposal

(166,760

)

At 30 September 2021

453,617

NET BOOK VALUE

At 30 September 2021

155,855

At 30 September 2020

171,963

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2020

and 30 September 2021

299,936

NET BOOK VALUE

At 30 September 2021

299,936

At 30 September 2020

299,936

The directors have considered the value of the assets without actually revaluing them.The directors are satisfied that the aggregate value of those assets at the time in question was not less than the aggregate amount at which they were stated in the company accounts.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

3,753

3,131

Amounts owed by group undertakings

45,100

92,359

Other debtors

18,882

33,307

67,735

128,797

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

45,833

-

Trade creditors

65,244

85,132

Amts owed to companies under common cont

2,000

2,000

Taxation and social security

138,823

122,135

Other creditors

160,898

87,310

412,798

296,577

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

204,167

-

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £26,400 were paid to the directors .

The company also rents part of its premises from its director Mr S Sembhy at a rental of £30,000 (2020 - £30,000) for the year. During the year £114,371 (2020 - £87,653) was paid for sales commission to Mr S Sembhy's son.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Holmes and Homes Limited.

Mr S Sembhy together with his wife are the ultimate controlling party.