Broadgate Consortium Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07594601 (England and Wales)

BROADGATE CONSORTIUM LIMITED

Unaudited Financial Statements for the Year Ended 30 April 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Derry-Collins

R F K Morgan

REGISTERED OFFICE:

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

REGISTERED NUMBER:

07594601 (England and Wales)

ACCOUNTANTS:

Tudor John Limited

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

CURRENT ASSETS

Debtors

3

10,898

6,695

Cash at bank

8,483

3,821

19,381

10,516

CREDITORS

Amounts falling due within one year

4

2,583

1,270

NET CURRENT ASSETS

16,798

9,246

TOTAL ASSETS LESS CURRENT LIABILITIES

16,798

9,246

CAPITAL AND RESERVES

Called up share capital

2,100

2,100

Retained earnings

14,698

7,146

SHAREHOLDERS' FUNDS

16,798

9,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2021 and were signed on its behalf by:

J Derry-Collins - Director

1.	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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TAXATION

Taxation 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 TAX

Deferred 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1

-

Other debtors

10,897

6,695

10,898

6,695

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

411

-

Taxation and social security

902

-

Other creditors

1,270

1,270

2,583

1,270

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2020 and 30 April 2019:

2020

2019

£

£

J Derry-Collins

Balance outstanding at start of year

(20

)

(20

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(20

)

6.	RELATED PARTY DISCLOSURES

As at 30th April 2020 the company was owed £9,966 by IFACT Services Limited. (2019 £4,966). Mr J Derry-Collins is a director and shareholder of both companies.

During the year the company was not charged for management fees by IFACT (2019 £Nil).

7.	ULTIMATE CONTROLLING PARTY