Boom Mart Limited
Registered number: 07363449
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 269 336
Current assets
Stocks 38,578 39,794
Debtors 4 2,667 -
41,245 39,794
Creditors: amounts falling due within one year 5 (67,656) (57,795)
Net current liabilities (26,411) (18,001)
Total assets less current liabilities (26,142) (17,665)
Creditors: amounts falling due after more than one year 6 (26,638) (37,286)
Net liabilities (52,780) (54,951)
Capital and reserves
Called up share capital 100 100
Profit and loss account (52,880) (55,051)
Shareholder's funds (52,780) (54,951)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Muhammad Shoaib Chaudhry
Director
Approved by the board on 23 October 2023
Boom Mart Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
No tax liability is recognised as the company made signifinificant loss before tax in the previous periods.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 April 2022 1,966
At 31 March 2023 1,966
Depreciation
At 1 April 2022 1,630
Charge for the year 67
At 31 March 2023 1,697
Net book value
At 31 March 2023 269
At 31 March 2022 336
4 Debtors 2023 2022
£ £
Prepayments 2,667 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 14,986 16,093
Trade creditors 2,545 6,546
Other taxes and social security costs 406 2,311
Director's loan account 49,718 32,845
Other creditors 1 -
67,656 57,795
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,638 37,286
7 Related party transactions
The director is the only related party. He has withdrawn salary and have given loan to the company, which has been disclosed in the accounts.
8 Controlling party
Muhammad Shoaib Chaudhry is the ultimate controlling party.
9 Other information
Boom Mart Limited is a private company limited by shares and incorporated in England. Its registered office is:
302 Rugby Road
Dagenham
RM9 4AT
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