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Registration number: 14128384

Boss Flooring Solutions Limited

Annual Report and Unaudited Financial Statements

for the Period from 24 May 2022 to 31 May 2023

 

Boss Flooring Solutions Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Boss Flooring Solutions Limited

Company Information

Director

N Breslin

Registered office

54 Longmoor Road
Sutton Coldfield
West Midlands
B73 6UA

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Boss Flooring Solutions Limited
for the Period Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Boss Flooring Solutions Limited for the period ended 31 May 2023 as set out on pages 3 to 8 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/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Boss Flooring Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 30 May 2022. Our work has been undertaken solely to prepare for your approval the accounts of Boss Flooring Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Boss Flooring Solutions Limited, 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/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-
companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boss Flooring Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Boss Flooring Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Boss Flooring Solutions Limited. You consider that Boss Flooring Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Boss Flooring Solutions Limited. 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 accounts.

......................................

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ


5 July 2023

 

Boss Flooring Solutions Limited

(Registration number: 14128384)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

3,790

Current assets

 

Debtors

6

54,512

Cash at bank and in hand

 

3,157

 

57,669

Creditors: Amounts falling due within one year

7

(55,562)

Net current assets

 

2,107

Total assets less current liabilities

 

5,897

Provisions for liabilities

(720)

Net assets

 

5,177

Capital and reserves

 

Called up share capital

8

1

Profit and loss account

5,176

Total equity

 

5,177

For the financial period ending 31 May 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Directors' Report or the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 July 2023
 

.........................................
N Breslin
Director

   
     
 

Boss Flooring Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 24 May 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 14128384.

The address of its registered office is:
54 Longmoor Road
Sutton Coldfield
West Midlands
B73 6UA
England

These financial statements were authorised for issue by the director on 5 July 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 which is the functional currency of the company and rounded to the nearest £.

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 and deferred 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.

 

Boss Flooring Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 24 May 2022 to 31 May 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Plant and machinery

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Boss Flooring Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 24 May 2022 to 31 May 2023 (continued)

2

Accounting policies (continued)

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed (including the director) during the period was 1.

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Accelerated tax depreciation

720

   
 

Boss Flooring Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 24 May 2022 to 31 May 2023 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

Additions

3,682

1,373

5,055

At 31 May 2023

3,682

1,373

5,055

Depreciation

Charge for the period

921

344

1,265

At 31 May 2023

921

344

1,265

Carrying amount

At 31 May 2023

2,761

1,029

3,790

6

Debtors

2023
£

Trade debtors

31,717

Other debtors

22,057

Prepayments

738

54,512

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7.1

8,848

Trade creditors

 

14,185

Other creditors

 

23,978

Accrued expenses

 

3,866

Corporation tax liability

 

4,685

 

55,562

7.1

Loans and borrowings

2023
£

Current loans and borrowings

Loans from directors

8,848

 

Boss Flooring Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 24 May 2022 to 31 May 2023 (continued)

8

Share capital

Allotted, called up and fully paid shares

 

31 May 2023

 

No.

£

Ordinary shares share of £1 each

1

1

     

New shares allotted

During the period 1 Ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1. This was the initial issue of share capital.

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Holders of the ordinary share capital have a right to vote and receive dividends.