BROADBAND TOOLS LIMITED

BROADBAND TOOLS LIMITED

BROADBAND TOOLS LIMITED - Company Information

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BROADBAND TOOLS LIMITED

Company Registration Number:
10778839 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

BROADBAND TOOLS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

BROADBAND TOOLS LIMITED

Balance sheet

As at 31 December 2022


Notes
2022
14 months to 31 December 2021


£
£
Fixed assets
Intangible assets: 3 14,789 5,654
Tangible assets: 4 0 159
Total fixed assets: 14,789 5,813
Current assets
Debtors:   60,908 215,343
Cash at bank and in hand: 1,020 63,768
Total current assets: 61,928 279,111
Creditors: amounts falling due within one year:   (11,009) (64,052)
Net current assets (liabilities): 50,919 215,059
Total assets less current liabilities: 65,708 220,872
Provision for liabilities: 0 (30)
Total net assets (liabilities): 65,708 220,842
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 65,706 220,840
Shareholders funds: 65,708 220,842

The notes form part of these financial statements

BROADBAND TOOLS LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 September 2023
and signed on behalf of the board by:

Name: TC Dunne
Status: Director

The notes form part of these financial statements

BROADBAND TOOLS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

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 cost

Intangible fixed assets and amortisation policy

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.Computer software is being amortised evenly over its estimated useful life of nil years.Website is being amortised evenly over its estimated useful life of five years.

Other accounting policies

TaxationTaxation 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 taxDeferred 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 benefitsThe 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.Going concernThe director considers that the company will continue in operational existence for the foreseeable future having prepared financial forecasts and expected cashflows of the business. The financial statements are prepared on the going concern basis.

BROADBAND TOOLS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 14 months to 31 December 2021
Average number of employees during the period 2 3

BROADBAND TOOLS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Intangible Assets

Total
Cost £
At 01 January 2022 8,750
Additions 13,200
At 31 December 2022 21,950
Amortisation
At 01 January 2022 3,096
Charge for year 4,065
At 31 December 2022 7,161
Net book value
At 31 December 2022 14,789
At 31 December 2021 5,654

BROADBAND TOOLS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible Assets

Total
Cost £
At 01 January 2022 760
At 31 December 2022 760
Depreciation
At 01 January 2022 601
Charge for year 159
At 31 December 2022 760
Net book value
At 31 December 2022 0
At 31 December 2021 159

BROADBAND TOOLS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Related party transactions

The company is controlled by Genie Ventures Ltd.At the year end £53,931 was owed to Broadband Tools Limited by Genie Ventures Ltd.