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Company registration number: 07059521
Boston HGV Testing Station Ltd
Unaudited filleted financial statements
31 March 2023
Boston HGV Testing Station Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Boston HGV Testing Station Ltd
Directors and other information
Directors Mr Peter John Ellis Smith
Mrs Janet Smith
Mrs Amie Lousie O'Malley (Appointed 1 October 2022)
Mr Daniel Peter Smith (Appointed 1 October 2022)
Company number 07059521
Registered office Riverside Industrial Estate
Marsh Lane
Boston
Lincolnshire
PE21 7PJ
Business address Riverside Industrial Estate
Marsh Lane
Boston
Lincs
PE21 7PJ
Accountants Lister & Co
75 High Street
Boston
Lincolnshire
PE21 8SX
Boston HGV Testing Station Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Boston HGV Testing Station Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Boston HGV Testing Station Ltd for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Boston HGV Testing Station Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Boston HGV Testing Station Ltd and state those matters that we have agreed to state to the board of directors of Boston HGV Testing Station Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boston HGV Testing Station Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Boston HGV Testing Station Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Boston HGV Testing Station Ltd. You consider that Boston HGV Testing Station Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Boston HGV Testing Station Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincolnshire
PE21 8SX
28 September 2023
Boston HGV Testing Station Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 74,594 84,513
_______ _______
74,594 84,513
Current assets
Stocks 1,750 1,750
Debtors 6 297,957 281,991
Cash at bank and in hand 144,304 258,940
_______ _______
444,011 542,681
Creditors: amounts falling due
within one year 7 ( 27,523) ( 94,602)
_______ _______
Net current assets 416,488 448,079
_______ _______
Total assets less current liabilities 491,082 532,592
Creditors: amounts falling due
after more than one year 8 ( 21,621) ( 32,814)
Provisions for liabilities ( 7,323) ( 6,412)
_______ _______
Net assets 462,138 493,366
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 462,038 493,266
_______ _______
Shareholders funds 462,138 493,366
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:
Mr Peter John Ellis Smith
Director
Company registration number: 07059521
Boston HGV Testing Station Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Riverside Industrial Estate, Marsh Lane, Boston, Lincolnshire, PE21 7PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Long leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2022 73,553 41,962 9,217 38,245 162,977
Additions - 10,695 1,314 - 12,009
_______ _______ _______ _______ _______
At 31 March 2023 73,553 52,657 10,531 38,245 174,986
_______ _______ _______ _______ _______
Depreciation
At 1 April 2022 22,791 18,780 4,654 32,239 78,464
Charge for the year 14,710 4,949 768 1,501 21,928
_______ _______ _______ _______ _______
At 31 March 2023 37,501 23,729 5,422 33,740 100,392
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2023 36,052 28,928 5,109 4,505 74,594
_______ _______ _______ _______ _______
At 31 March 2022 50,762 23,182 4,563 6,006 84,513
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 119,739 87,257
Other debtors 178,218 194,734
_______ _______
297,957 281,991
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,879 9,686
Trade creditors 976 27,039
Social security and other taxes 7,716 11,794
Other creditors 7,952 46,083
_______ _______
27,523 94,602
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 21,621 32,814
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Other financial commitments
Financial commitments not included in the balance sheet total £19,000 at the year end.