Company Registration No. 10422555 (England and Wales)
Boru Estates Limited
Unaudited accounts
for the year ended 31 October 2023
Boru Estates Limited
Unaudited accounts
Contents
Boru Estates Limited
Company Information
for the year ended 31 October 2023
Directors
Adam O'Brien
Shaun O'Brien
Company Number
10422555 (England and Wales)
Registered Office
4 Blacka Moor Crescent
Sheffield
South Yorkshire
S17 3GL
England
Accountants
Cloud Accountancy Limited
5 Park Crescent
Retford
Notts
DN22 6UF
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Boru Estates Limited
for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Boru Estates Limited for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Boru Estates Limited, as a body, in accordance with the terms of our engagement letter dated 9 February 2018. Our work has been undertaken solely to prepare for your approval the accounts of Boru Estates Limited and state those matters that we have agreed to state to the Board of Directors of Boru Estates Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boru Estates Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Boru Estates 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 Boru Estates Limited. You consider that Boru Estates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Boru Estates 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.
Cloud Accountancy Limited
Member in Practice
5 Park Crescent
Retford
Notts
DN22 6UF
14 February 2024
Boru Estates Limited
Statement of financial position
as at 31 October 2023
Investment property
1,159,576
1,159,576
Cash at bank and in hand
454,500
350,200
Creditors: amounts falling due within one year
(1,320,888)
(1,312,498)
Net current liabilities
(859,570)
(951,797)
Total assets less current liabilities
300,006
207,831
Provisions for liabilities
Net assets
300,006
207,821
Called up share capital
2
2
Profit and loss account
300,004
207,819
Shareholders' funds
300,006
207,821
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
Shaun O'Brien
Director
Company Registration No. 10422555
Boru Estates Limited
Notes to the Accounts
for the year ended 31 October 2023
Boru Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 10422555. The registered office is 4 Blacka Moor Crescent, Sheffield, South Yorkshire, S17 3GL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Between 20% to 25% - straight line method
Fixtures & fittings
Between 20% to 25% - straight line method
Computer equipment
Between 20% to 25% - straight line method
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Boru Estates Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
24,017
367
24,384
At 31 October 2023
24,017
367
24,384
At 1 November 2022
24,017
315
24,332
Charge for the year
-
52
52
At 31 October 2023
24,017
367
24,384
At 31 October 2022
-
52
52
Fair value at 1 November 2022
1,159,576
At 31 October 2023
1,159,576
Amounts falling due within one year
Accrued income and prepayments
1,774
1,498
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
25,291
21,048
Loans from directors
1,264,917
1,264,917
Deferred income
15,966
15,979
Allotted, called up and fully paid:
2 Ordinary shares - £1 each of £1 each
2
2
Boru Estates Limited
Notes to the Accounts
for the year ended 31 October 2023
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).