Broadham Property Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10151420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

BROADHAM PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Allison

C J E Allison

REGISTERED OFFICE:

Broadham House

Singleton

Chichester

PO18 0HH

REGISTERED NUMBER:

10151420 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Magma House

16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

FIXED ASSETS

Tangible assets

4

1,222

-

Investments

5

3,145

-

Investment property

6

1,071,685

1,071,685

1,076,052

1,071,685

CURRENT ASSETS

Debtors

7

-

13,366

Cash at bank

24,947

4,085

24,947

17,451

CREDITORS

Amounts falling due within one year

8

(54,935

)

(56,512

)

NET CURRENT LIABILITIES

(29,988

)

(39,061

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,046,064

1,032,624

CREDITORS

Amounts falling due after more than one year

9

(836,501

)

(843,510

)

NET ASSETS

209,563

189,114

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

209,463

189,014

209,563

189,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2023 and were signed on its behalf by:

C J E Allison - Director

1.	STATUTORY INFORMATION

Broadham Property Limited is a limited company, registered in England and Wales. Its registered office address is Broadham House, Singleton, Chichester, England, PO18 0HH and the registered number is 10151420.

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 represents rents receivable in the period.

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

-

33% straight line

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,417

At 30 April 2022

1,417

DEPRECIATION

Charge for year

195

At 30 April 2022

195

NET BOOK VALUE

At 30 April 2022

1,222

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

3,145

At 30 April 2022

3,145

NET BOOK VALUE

At 30 April 2022

3,145

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2021

and 30 April 2022

1,071,685

NET BOOK VALUE

At 30 April 2022

1,071,685

At 30 April 2021

1,071,685

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

13,366

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

4,623

-

Taxation and social security

7,512

13,712

Other creditors

42,800

42,800

54,935

56,512

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

836,501

843,510