Registered number
07429335
BOFI LIMITED
Filleted Accounts
30 November 2023
SAUNDERS & RICHARD LTD
Chartered Certified Accountants
187 WOODHOUSE ROAD
NORTH FINCHLEY
LONDON
N12 9AY
9195A-12
BOFI LIMITED
Registered number: 07429335
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,201 5,602
Investments 4 271,468 267,418
275,669 273,020
Current assets
Cash at bank and in hand 2,810 10,780
Creditors: amounts falling due within one year 5 (33,794) (45,121)
Net current liabilities (30,984) (34,341)
Total assets less current liabilities 244,685 238,679
Provisions for liabilities (798) (1,064)
Net assets 243,887 237,615
Capital and reserves
Called up share capital 100 100
Profit and loss account 243,787 237,515
Shareholders' funds 243,887 237,615
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 members have 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.
Mr. S Kotwani
Director
Approved by the board on 28 February 2024
BOFI LIMITED
Notes to the Accounts
for the year ended 30 November 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:
Fixtures, fittings and equipment 25% p.a on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, Fittings & Equipment
£
Cost
At 1 December 2022 28,365
At 30 November 2023 28,365
Depreciation
At 1 December 2022 22,763
Charge for the year 1,401
At 30 November 2023 24,164
Net book value
At 30 November 2023 4,201
At 30 November 2022 5,602
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 December 2022 252,286 15,132 267,418
Additions 4,050 - 4,050
At 30 November 2023 256,336 15,132 271,468
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,207 22,986
Other creditors 31,587 22,135
33,794 45,121
6 Controlling party
The company is controlled by S Kotwani and B Kotwani by virtue of having ownership of 100% of the issued ordinary share capital in the company.
7 Other information
BOFI LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128 City Road
London
EC1V 2NX
BOFI LIMITED 07429335 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 Mr. S Kotwani No description of principal activity 07429335 2021-12-01 2022-11-30 07429335 core:WithinOneYear 2022-11-30 07429335 core:ShareCapital 2022-11-30 07429335 core:RetainedEarningsAccumulatedLosses 2022-11-30 07429335 2022-12-01 2023-11-30 07429335 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07429335 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07429335 bus:Director40 2022-12-01 2023-11-30 07429335 core:PlantMachinery 2022-12-01 2023-11-30 07429335 countries:England 2022-12-01 2023-11-30 07429335 bus:FRS102 2022-12-01 2023-11-30 07429335 bus:FullAccounts 2022-12-01 2023-11-30 07429335 2023-11-30 07429335 core:WithinOneYear 2023-11-30 07429335 core:ShareCapital 2023-11-30 07429335 core:RetainedEarningsAccumulatedLosses 2023-11-30 07429335 core:PlantMachinery 2023-11-30 07429335 core:AdditionsToInvestments 2023-11-30 07429335 2022-11-30 07429335 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure