Broadaxe Timber Frames Ltd - Period Ending 2022-03-31

Broadaxe Timber Frames Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 4

Broadaxe Timber Frames Ltd

Company Information

Director

Mr L D Firth

Registered office

Broadaxe House Broadaxe Business Park Presteigne Powys LD8 2UH

Accountants

Mitchell Meredith Limited The Exchange Fiveways Temple Street Llandrindod Wells Powys LD1 5HG

Broadaxe Timber Frames Ltd

(Registration number: 12028151)
Balance Sheet as at 31 March 2022

	Note	2022 £	2021 £
Current assets
Cash at bank and in hand		953	1
Creditors: Amounts falling due within one year	4	(1,000)	-
Net (liabilities)/assets		(47)	1
Capital and reserves
Called up share capital		1	1
Retained earnings		(48)	-
Shareholders' (deficit)/funds		(47)	1

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 December 2022
 

Mr L D Firth Director

Broadaxe Timber Frames Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 March 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Broadaxe House
Broadaxe Business Park
Presteigne
Powys
LD8 2UH
UK

These financial statements were authorised for issue by the director on 29 December 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date the company had net liabilities of £47. The director is aware of the turnover and margins that the company needs to achieve in order to keep the company in profit and he believes these targets can be met. The director reviews realistic objectives at regular intervals, based on this periodic review and the company's plans, the director considers it appropriate to prepare the financial statements on the going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Broadaxe Timber Frames Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 March 2022

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2021 - 1).

4

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Amounts due to related parties		1,000	-