Registered number
08378736
Middle Boop Limited
Unaudited Filleted Accounts
31 March 2023
Middle Boop Limited
Registered number: 08378736
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 31,404 16,200
Cash at bank and in hand 66,899 34,274
98,303 50,474
Creditors: amounts falling due within one year 5 (24,134) (14,175)
Net current assets 74,169 36,299
Net assets 74,169 36,299
Capital and reserves
Called up share capital 10 1
Profit and loss account 74,159 36,298
Shareholder's funds 74,169 36,299
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.
Gordon James
Director
Approved by the board on 17 September 2023
Middle Boop Limited
Notes to the Accounts
for the period from 1 February 2022 to 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 2,150
At 31 March 2023 2,150
Depreciation
At 1 February 2022 2,150
At 31 March 2023 2,150
Net book value
At 31 March 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 21,780 16,200
Other debtors 9,624 -
31,404 16,200
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 24,134 13,575
Other creditors - 600
24,134 14,175
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Gordon James
Interest free with no fixed repayment terms 600 (18,224) 8,000 (9,624)
600 (18,224) 8,000 (9,624)
7 Related party transactions
During the period the company paid dividends to the director totalling £44,936 (2022: £46,040) and to the director's spouse totalling £6,000 (2022: £0)
8 Controlling party
The director is the ultimate controlling party by virtue of his 60% shareholding in the company.
9 Other information
Middle Boop Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Heath View
London
N2 0QA
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