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COMPANY REGISTRATION NUMBER: 14285476
BORA ENGINEERING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
BORA ENGINEERING LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2023
31 Aug 23
Note
£
£
FIXED ASSETS
Tangible assets
5
455
CURRENT ASSETS
Debtors
6
25,181
Cash at bank and in hand
48,530
--------
73,711
CREDITORS: amounts falling due within one year
7
20,755
--------
NET CURRENT ASSETS
52,956
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
53,411
--------
NET ASSETS
53,411
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
Profit and loss account
53,311
--------
SHAREHOLDERS FUNDS
53,411
--------
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 comprehensive income has not been delivered.
For the period ending 31 August 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 period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
Miss E Sullivan
Director
Company registration number: 14285476
BORA ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 9 AUGUST 2022 TO 31 AUGUST 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 128 City Road, London, EC1V 2NX.
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 and 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 services rendered.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 2 .
5. TANGIBLE ASSETS
Equipment
£
Cost
At 9 August 2022
Additions
682
----
At 31 August 2023
682
----
Depreciation
At 9 August 2022
Charge for the period
227
----
At 31 August 2023
227
----
Carrying amount
At 31 August 2023
455
----
6. DEBTORS
31 Aug 23
£
Trade debtors
25,181
--------
7. CREDITORS: amounts falling due within one year
31 Aug 23
£
Corporation tax
12,949
Social security and other taxes
3,640
Other creditors
4,166
--------
20,755
--------