Broadway Stoke Ltd Accounts






Broadway Stoke Ltd
	Company No. 07056602
		Information for Filing with The Registrar
		31 December 2016

The Directors present their report and the accounts for the year ended 31 December 2016.

Principal activities
The principal activity of the company during the year under review was manufacturing and retail of fitted kitchens and bathrooms.




Directors

The Directors who served at any time during the year were as follows:

A.D. Hudson
D.H. Hudson


































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D.H. Hudson
Director
15 February 2017

at	31 December 2016

Company No.		07056602	Notes	2016	2015
				£	£
Fixed assets
	Intangible assets		3	-	-
	Tangible assets		4	12,263	15,512


				12,263	15,512
Current assets
	Stocks		5	29,164	26,329
	Debtors		6	13,891	9,303

	Cash at bank and in hand			47,089	43,096
				90,144	78,728
Creditors: Amount falling due within one year			7	(145,950)	(137,857)
Net current liabilities				(55,806)	(59,129)
Total assets less current liabilities				(43,543)	(43,617)




Net liabilities				(43,543)	(43,617)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		8	(43,643)	(43,717)

Total equity				(43,543)	(43,617)


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2016 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 15 February 2017

And signed on its behalf by:

D.H. Hudson
Director
15 February 2017

for the year ended 31 December 2016

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20% Reducing balance

Motor vehicles

25% Reducing balance

Furniture, fittings and equipment

33% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Employees
			2016	2015
			Number	Number
		The average number of persons employed during the year :	6	6

3	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 January 2016	10,000	10,000


		At 31 December 2016	10,000	10,000
		Amortisation and impairment
		At 1 January 2016	10,000	10,000



		At 31 December 2016	10,000	10,000
		Net book values
		At 31 December 2016	-	-
		At 31 December 2015	-	-

4	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 January 2016	29,667	12,000	2,265	43,932




		At 31 December 2016	29,667	12,000	2,265	43,932
		Depreciation
		At 1 January 2016	16,590	9,864	1,966	28,420
		Charge for the year	2,615	534	100	3,249



		At 31 December 2016	19,205	10,398	2,066	31,669
		Net book values
		At 31 December 2016	10,462	1,602	199	12,263
		At 31 December 2015	13,077	2,136	299	15,512

5	Stocks
			2016	2015
			£	£
		Raw materials and consumables	21,015	22,515
		Work in progress	8,149	3,814

			29,164	26,329

6	Debtors
			2016	2015
			£	£
		Trade debtors	5,230	796





		Other debtors	4,590	4,590
		Prepayments and accrued income	4,071	3,917
			13,891	9,303

7	Creditors:
		amounts falling due within one year
			2016	2015
			£	£




		Trade creditors	14,063	6,726


		Other taxes and social security	11,371	7,751
		Loans from directors	97,911	109,211
		Other creditors	17,521	12,300
		Accruals and deferred income	5,084	1,869
			145,950	137,857

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

07056602

Its registered office is:

Unit 5, Victoria Road

Fenton

Stoke-on-Trent

Staffordshire

ST4 2HS