The Broughton Market Limited Company accounts
The Broughton Market Limited Company accounts
COMPANY REGISTRATION NUMBER:
SC699004
|
|
|
|
Financial Statements |
Year ended 31 March 2023
Contents |
Page |
Director's report |
1 |
Statement of comprehensive income |
2 |
Statement of financial position |
3 |
Statement of changes in equity |
5 |
Notes to the financial statements |
6 |
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
12 |
|
Director's Report |
Year ended 31 March 2023
The director presents her report and the unaudited financial statements of the company for the year ended
31 March 2023
.
Principal activities
Incorporation
The company was incorporated on the 18th May 2021 and started trading on 25th March 2022.
Director
The director who served the company during the year was as follows:
|
|
Small company provisions
This report was approved by the board of directors on
18 December 2023
and signed on behalf of the board by:
|
|
Director |
|
Registered office: |
|
|
|
|
Statement of Comprehensive Income |
Year ended 31 March 2023
Period from |
||
Year to |
18 May 21 to |
|
31 Mar 23 |
31 Mar 22 |
|
Note |
£ |
£ |
Turnover |
|
|
Cost of sales |
|
|
------------- |
--------- |
|
Gross profit |
|
|
Administrative expenses |
|
|
---------- |
--------- |
|
Operating profit/(loss) |
|
(
|
---------- |
--------- |
||
Profit/(loss) before taxation |
5 |
|
(
|
Tax on profit/(loss) |
|
– |
--------- |
------- |
|
Profit/(loss) for the financial year and total comprehensive income |
|
(
|
--------- |
------- |
|
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
|
Statement of Financial Position |
2023 |
2022 |
|||
Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
|
|
||
Current assets
Stocks |
|
|
|||
Debtors |
7 |
|
|
||
Cash at bank and in hand |
|
|
|||
---------- |
--------- |
||||
|
|
||||
Creditors: amounts falling due within one year |
8 |
|
|
||
---------- |
--------- |
||||
Net current assets/(liabilities) |
|
(
|
|||
---------- |
---------- |
||||
Total assets less current liabilities |
|
|
|||
Creditors: amounts falling due after more than one year |
9 |
|
|
||
Provisions |
|
– |
||
---------- |
---------- |
|||
Net assets/(liabilities) |
|
(
|
||
---------- |
---------- |
|||
Capital and reserves
Called up share capital |
10 |
|
|
||
Profit and loss account |
|
(
|
|||
--------- |
------- |
||||
Shareholders funds/(deficit) |
|
(
|
|||
--------- |
------- |
||||
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
18 December 2023
, and are signed on behalf of the board by:
|
|
Director |
|
Company registration number:
SC699004
|
Statement of Changes in Equity |
Year ended 31 March 2023
Called up share capital |
Profit and loss account |
Total |
|
£ |
£ |
£ |
|
At 18 May 2021 |
– |
– |
– |
Loss for the year |
(
|
(
|
|
---- |
------- |
------- |
|
Total comprehensive income for the year |
– |
(
|
(
|
Issue of shares |
|
– |
|
------- |
------- |
------- |
|
Total investments by and distributions to owners |
|
– |
|
At 31 March 2022 |
|
(
|
(
|
Profit for the year |
|
|
|
------- |
--------- |
--------- |
|
Total comprehensive income for the year |
– |
|
|
Dividends paid and payable |
– |
(
|
(
|
---- |
--------- |
--------- |
|
Total investments by and distributions to owners |
– |
(
|
(
|
------- |
--------- |
--------- |
|
At 31 March 2023 |
|
|
|
------- |
--------- |
--------- |
|
|
Notes to the Financial Statements |
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 23 Duddingston View, Edinburgh, EH15 3LX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
- |
|
|
Fixtures and fittings |
- |
|
|
Equipment |
- |
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2022:
7
).
5.
Profit before taxation
Profit before taxation is stated after charging:
Period from |
||
Year to |
18 May 21 to |
|
31 Mar 23 |
31 Mar 22 |
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
--------- |
------- |
|
6.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2022 |
|
|
|
|
Additions |
|
– |
– |
|
--------- |
---------- |
------- |
---------- |
|
At 31 March 2023 |
|
|
|
|
--------- |
---------- |
------- |
---------- |
|
Depreciation |
||||
At 1 April 2022 |
|
|
|
|
Charge for the year |
|
|
|
|
--------- |
---------- |
------- |
---------- |
|
At 31 March 2023 |
|
|
|
|
--------- |
---------- |
------- |
---------- |
|
Carrying amount |
||||
At 31 March 2023 |
|
|
|
|
--------- |
---------- |
------- |
---------- |
|
At 31 March 2022 |
|
|
|
|
--------- |
---------- |
------- |
---------- |
|
7.
Debtors
2023 |
2022 |
|
£ |
£ |
|
Other debtors |
|
|
--------- |
--------- |
|
8.
Creditors:
amounts falling due within one year
2023 |
2022 |
|
£ |
£ |
|
Trade creditors |
|
|
Other creditors |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
9.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
|
£ |
£ |
|
Other creditors |
|
|
---------- |
---------- |
|
10.
Called up share capital
Issued, called up and fully paid
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
------- |
------- |
------- |
------- |
|
11.
Related party transactions
At 31 March 2023 the company owed J Crombie £230,011, (2022: £187,415) J Crombie is the husband of Y Crombie.
|
Management Information |
Year ended 31 March 2023
The following pages do not form part of the financial statements.
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
|
Year ended 31 March 2023
7 Palmerston Place
Edinburgh
EH12 5AH