5 false false false false false false false false false true false false true true true true No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01252537 2022-10-01 2023-09-30 01252537 2023-09-30 01252537 2022-09-30 01252537 2021-10-01 2022-09-30 01252537 2022-09-30 01252537 core:MotorVehicles 2022-10-01 2023-09-30 01252537 bus:LeadAgentIfApplicable 2022-10-01 2023-09-30 01252537 bus:Director2 2022-10-01 2023-09-30 01252537 core:LandBuildings core:LongLeaseholdAssets 2022-09-30 01252537 core:MotorVehicles 2022-09-30 01252537 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 01252537 core:MotorVehicles 2023-09-30 01252537 core:LandBuildings core:LongLeaseholdAssets 2022-10-01 2023-09-30 01252537 core:WithinOneYear 2023-09-30 01252537 core:WithinOneYear 2022-09-30 01252537 core:ShareCapital 2023-09-30 01252537 core:ShareCapital 2022-09-30 01252537 core:CapitalRedemptionReserve 2023-09-30 01252537 core:CapitalRedemptionReserve 2022-09-30 01252537 core:RetainedEarningsAccumulatedLosses 2023-09-30 01252537 core:RetainedEarningsAccumulatedLosses 2022-09-30 01252537 core:LandBuildings core:LongLeaseholdAssets 2022-09-30 01252537 core:MotorVehicles 2022-09-30 01252537 bus:SmallEntities 2022-10-01 2023-09-30 01252537 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 01252537 bus:FullAccounts 2022-10-01 2023-09-30 01252537 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 01252537 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 01252537 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 01252537 core:FurnitureFittingsToolsEquipment 2022-09-30 01252537 core:FurnitureFittingsToolsEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 01252537
Boast Plumbing Supplies Limited
Filleted Unaudited Financial Statements
Year ended
30 September 2023
Boast Plumbing Supplies Limited
Financial Statements
Year ended 30 September 2023
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Accounting policies
4 to 6
Notes to the financial statements
7 to 8
Boast Plumbing Supplies Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Boast Plumbing Supplies Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Boast Plumbing Supplies Limited for the year ended 30 September 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
18 December 2023
Boast Plumbing Supplies Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
34,641
19,228
Current assets
Stocks
65,000
65,000
Debtors
5
139,549
159,715
Cash at bank and in hand
632,659
629,548
---------
---------
837,208
854,263
Creditors: amounts falling due within one year
6
324,577
338,272
---------
---------
Net current assets
512,631
515,991
---------
---------
Total assets less current liabilities
547,272
535,219
Provisions
8,660
3,653
---------
---------
Net assets
538,612
531,566
---------
---------
Capital and reserves
Called up share capital
550
550
Capital redemption reserve
150
150
Profit and loss account
537,912
530,866
---------
---------
Shareholders funds
538,612
531,566
---------
---------
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 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Boast Plumbing Supplies Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 18 December 2023 , and are signed on behalf of the board by:
Mr M G Green
Director
Company registration number: 01252537
Boast Plumbing Supplies Limited
Accounting Policies
Year ended 30 September 2023
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.
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 the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account.
Revenue recognition
Turnover comprises the value of sales (net of VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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:
Leasehold improvements
-
over the remainder of the lease term
Motor vehicles
-
15% straight line
Fixtures & equipment
-
20% 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Boast Plumbing Supplies Limited
Notes to the Financial Statements
Year ended 30 September 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 23 The Broadway, New Haw, Weybridge, Surrey, KT15 3EU.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 6 ).
4. Tangible assets
Long leasehold property
Motor vehicles
Fixtures & equipment
Total
£
£
£
£
Cost
At 1 October 2022
6,771
31,007
6,235
44,013
Additions
20,417
20,417
Disposals
( 8,990)
( 8,990)
-------
--------
-------
--------
At 30 September 2023
6,771
42,434
6,235
55,440
-------
--------
-------
--------
Depreciation
At 1 October 2022
6,770
11,790
6,225
24,785
Charge for the year
3,804
3,804
Disposals
( 7,790)
( 7,790)
-------
--------
-------
--------
At 30 September 2023
6,770
7,804
6,225
20,799
-------
--------
-------
--------
Carrying amount
At 30 September 2023
1
34,630
10
34,641
-------
--------
-------
--------
At 30 September 2022
1
19,217
10
19,228
-------
--------
-------
--------
5. Debtors
2023
2022
£
£
Trade debtors
124,487
147,749
Other debtors
15,062
11,966
---------
---------
139,549
159,715
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
108,750
145,994
Social security and other taxes
68,045
66,997
Other creditors
147,782
125,281
---------
---------
324,577
338,272
---------
---------
7. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.