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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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BROADLANDS PARTNERSHIP LTD |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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BROADLANDS PARTNERSHIP LTD |
BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Contents of the Financial Statements |
for the year ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BROADLANDS PARTNERSHIP LTD |
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Company Information |
for the year ended 31 March 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Business Advisers |
The Counting House |
Celtic Gateway |
Dunleavy Drive |
Cardiff |
CF11 0SN |
BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Balance Sheet - continued |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Notes to the Financial Statements |
for the year ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Broadlands Partnership Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable for services provided in the normal course of business, net of |
discounts and amounts refunded. All revenue, in the form of commission or fees, is recognised at the point at |
which the right to receive consideration becomes unconditional after taking into account provisions for the |
potential cancellation of policies where commissions are received under indemnity terms. |
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Goodwill |
Goodwill relates to the incorporation of the partnership in 2013. It is being amortised evenly over its |
estimated useful life of 10 years from 1 April 2016 onwards (20 years initially). |
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Intangible assets |
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. |
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Tangible fixed assets |
All fixed assets are initially recorded at cost. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Fixtures & Fittings - Straight Line over 5 years |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
& Fittings |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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BROADLANDS PARTNERSHIP LTD (REGISTERED NUMBER: 04194855) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2017 |
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9. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
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Natwest hold a charge on deposit on all the company liabilities owed to them. |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £45,000 were paid to the directors . |
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As at 31 March 2017, the following balances were owed to the directors: |
Mr B Spencer - £2,552 |
Mr M John - £19,783 |
Mrs J John - £7,449 |
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11. | ULTIMATE CONTROLLING PARTY |
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Mr and Mrs John are the company's ultimate controlling parties by virtue of their shareholding in the company. |
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12. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102. The last financial statements |
under UK GAAP were for the year ended ended 31 March 2016. The date of transition was 1 April 2015. |
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There are no material changes to the basis of preparation of the accounts arising on transition to FRS 102. |
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