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Registration number: 03452197

Boldarch Limited

Unaudited Filleted Financial Statements

for the Period from 1 November 2021 to 30 April 2023

 

Boldarch Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Boldarch Limited

(Registration number: 03452197)
Balance Sheet as at 30 April 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

2,071,858

2,071,858

Current assets

 

Debtors

6

743,696

476,245

Cash at bank and in hand

 

1,061,784

1,174,406

 

1,805,480

1,650,651

Creditors: Amounts falling due within one year

7

(62,329)

(55,183)

Net current assets

 

1,743,151

1,595,468

Total assets less current liabilities

 

3,815,009

3,667,326

Creditors: Amounts falling due after more than one year

7

(1,134,626)

(1,113,080)

Net assets

 

2,680,383

2,554,246

Capital and reserves

 

Called up share capital

200

200

Retained earnings

2,680,183

2,554,046

Shareholders' funds

 

2,680,383

2,554,246

For the financial period ending 30 April 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 accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
C G Macdonald
Director

 

Boldarch Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 30 April 2023

1

General information

The company is a private company limited by share capital incorporated in England and the company registration number is 03452197.

The address of its registered office is:
29-31 Hainton Avenue
Grimsby
N. E. Lincolnshire
DN32 9AS

These financial statements were authorised for issue by the Board on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

These financial statements cover the individual entity, Boldarch Limited.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Boldarch Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and Fittings

20% straight line basis

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 3 (2021 - 3).

 

Boldarch Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 30 April 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2021

2,071,858

24,524

2,096,382

At 30 April 2023

2,071,858

24,524

2,096,382

Depreciation

At 1 November 2021

-

24,524

24,524

At 30 April 2023

-

24,524

24,524

Carrying amount

At 30 April 2023

2,071,858

-

2,071,858

At 31 October 2021

2,071,858

-

2,071,858

Included within the net book value of land and buildings above is £2,071,858 (2021 - £2,071,858) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 November

2,071,858

At 30 April

2,071,858

Investment properties were subject to valuation by C G Macdonald (a director who is not a profesional qualified valuer). The basis of this valuation was a fair value basis in the context of the location and class of investment properties being revalued.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

Note

2023
£

2021
£

Trade debtors

 

2,717

3,759

Amounts owed by related parties

8

700,020

458,000

Other debtors

 

40,959

14,486

   

743,696

476,245

 

Boldarch Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 30 April 2023

7

Creditors

Note

2023
£

2021
£

Due within one year

 

Trade creditors

 

-

2,305

Other creditors

 

55,287

46,836

Accruals and deferred income

 

7,042

6,042

 

62,329

55,183

Due after one year

 

Loans and borrowings

9

1,134,626

1,113,080

8

Related party transactions

Director's and key management compensation

2023
£

2021
£

Salaries and other short term employee benefits

13,830

8,823

Transactions with Directors

2023

At 1 November 2021
£

Advances to Director
£

Repayments by Director
£

At 30 April 2023
£

H G R Macdonald

Directors current account

2,367

-

(2,367)

-

         
       

C G Macdonald

Directors current account

600

(29,440)

-

(28,840)

         
       

 

2021

At 1 November 2020
£

Advances to Director
£

Repayments by Director
£

At 31 October 2021
£

C J A Macdonald

Directors current account

5,300

-

(5,300)

-

         
       

H G R Macdonald

Directors current account

772,705

2,367

(772,705)

2,367

         
       

C G Macdonald

Directors current account

404,673

(439,747)

35,674

600

         
       

 

Other transactions with Directors

During the year dividends of £102,167 (2021: £97,087) were paid to the directors.

 

Boldarch Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 30 April 2023

9

Loans and borrowings

2023
£

2021
£

Non-current loans and borrowings

Other borrowings

1,134,626

1,113,080

2023
£

2021
£

Current loans and borrowings

Other borrowings

-

600