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COMPANY REGISTRATION NUMBER: 04967776
Boden Associates Limited
Filleted Unaudited Financial Statements
28 February 2023
Boden Associates Limited
Financial Statements
Year ended 28 February 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Boden Associates Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
2,800
4,800
Tangible assets
6
15,780
19,595
Investments
7
105,605
108,645
---------
---------
124,185
133,040
Current assets
Debtors
8
57,258
27,730
Cash at bank and in hand
88,100
104,294
---------
---------
145,358
132,024
Creditors: amounts falling due within one year
9
56,924
55,095
---------
---------
Net current assets
88,434
76,929
---------
---------
Total assets less current liabilities
212,619
209,969
---------
---------
Net assets
212,619
209,969
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
212,519
209,869
---------
---------
Shareholders funds
212,619
209,969
---------
---------
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.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Boden Associates Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
D Boden
Director
Company registration number: 04967776
Boden Associates Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2022 and 28 February 2023
40,000
--------
Amortisation
At 1 March 2022
35,200
Charge for the year
2,000
--------
At 28 February 2023
37,200
--------
Carrying amount
At 28 February 2023
2,800
--------
At 28 February 2022
4,800
--------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2022
31,150
38,196
69,346
Additions
1,764
1,764
Disposals
( 21,338)
( 21,338)
--------
--------
--------
At 28 February 2023
31,150
18,622
49,772
--------
--------
--------
Depreciation
At 1 March 2022
21,294
28,457
49,751
Charge for the year
2,464
2,097
4,561
Disposals
( 20,320)
( 20,320)
--------
--------
--------
At 28 February 2023
23,758
10,234
33,992
--------
--------
--------
Carrying amount
At 28 February 2023
7,392
8,388
15,780
--------
--------
--------
At 28 February 2022
9,856
9,739
19,595
--------
--------
--------
7. Investments
Other investments other than loans
£
Cost
At 1 March 2022
108,645
Revaluations
( 4,349)
Other movements
1,309
---------
At 28 February 2023
105,605
---------
Impairment
At 1 March 2022 and 28 February 2023
---------
Carrying amount
At 28 February 2023
105,605
---------
At 28 February 2022
108,645
---------
8. Debtors
2023
2022
£
£
Trade debtors
53,090
23,559
Other debtors
4,168
4,171
--------
--------
57,258
27,730
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
535
3,757
Social security and other taxes
34,362
24,004
Other creditors
22,027
27,334
--------
--------
56,924
55,095
--------
--------
10. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
105,605
108,645
---------
---------