REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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BROOMCO (4001) LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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FOR |
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BROOMCO (4001) LTD |
BROOMCO (4001) LTD (REGISTERED NUMBER: 05687659) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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Page |
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Balance sheet | 1 |
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Notes to the financial statements | 2 |
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BROOMCO (4001) LTD (REGISTERED NUMBER: 05687659) |
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BALANCE SHEET |
31 JULY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 7 |
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Net assets |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings |
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Shareholders' funds |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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BROOMCO (4001) LTD (REGISTERED NUMBER: 05687659) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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1. | Statutory information |
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Broomco (4001) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05687659. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is Unit 7, 11-15 Francis Avenue, Bournemouth, Dorset, BH11 8NX. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rental income, excluding Value Added Tax, recognised on a receivable basis |
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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. |
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Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
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At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
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Change of accounting period |
On 8 December 2021, the company's accounting period was shortened to 31 July in order to align with the director's other companies. |
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3. | Employees and directors |
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The average number of employees during the period was
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BROOMCO (4001) LTD (REGISTERED NUMBER: 05687659) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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4. | Investment property |
Total |
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Fair value |
At 1 April 2020 |
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Additions |
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Revaluations | 28,549 |
At 31 July 2021 |
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Net book value |
At 31 July 2021 |
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At 31 March 2020 |
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Fair value at 31 July 2021 is represented by: |
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Valuation in 2012 | (58,775 | ) |
Valuation in 2021 | 28,549 |
Cost | 580,226 |
550,000 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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2021 | 2020 |
£ | £ |
Cost | 580,226 | - |
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The 2021 valuation was made by the director on an open market value for existing use basis. The director is of the opinion that the fair value of the property remains unchanged as at the balance sheet date. |
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5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Tax |
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VAT | - | 1,418 |
Other creditors |
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Directors' current accounts | 53,326 | 373,325 |
Accruals and deferred income |
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BROOMCO (4001) LTD (REGISTERED NUMBER: 05687659) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2020 TO 31 JULY 2021 |
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7. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Other creditors |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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"A" Ordinary shares | £1 | 2 | 2 |
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"B" Ordinary shares | £1 | 2 | 2 |
4 | 4 |
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9. | Ultimate controlling party |
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The company is under the control of the Director, by virtue of his 100% holding of the issued voting share capital of the company. |