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REGISTERED NUMBER: 05531709 (England and Wales)












BORG5 LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






BORG5 LTD (REGISTERED NUMBER: 05531709)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BORG5 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







Directors: Mr N M Phillips
Mrs E L Phillips





Secretary: Mrs E L Phillips





Registered office: Temple Bank
Beetham
MILNTHORPE
LA7 7AL





Registered number: 05531709 (England and Wales)





Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

BORG5 LTD (REGISTERED NUMBER: 05531709)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,253,118 527,282
Investments 5 495,101 293,601
1,748,219 820,883

Current assets
Debtors 6 1,390,161 956,972
Cash at bank 1,908,312 1,041,390
3,298,473 1,998,362
Creditors
Amounts falling due within one year 7 951,584 593,474
Net current assets 2,346,889 1,404,888
Total assets less current liabilities 4,095,108 2,225,771

Provisions for liabilities (31,002 ) (10,674 )

Accruals and deferred income - (29,604 )
Net assets 4,064,106 2,185,493

Capital and reserves
Called up share capital 2 2
Retained earnings 4,064,104 2,185,491
4,064,106 2,185,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BORG5 LTD (REGISTERED NUMBER: 05531709)

BALANCE SHEET - continued
31 AUGUST 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





Mr N M Phillips - Director


BORG5 LTD (REGISTERED NUMBER: 05531709)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. Statutory information

Borg5 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

BORG5 LTD (REGISTERED NUMBER: 05531709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 September 2022 387,129 280,462 667,591
Additions 736,220 26,255 762,475
At 31 August 2023 1,123,349 306,717 1,430,066
Depreciation
At 1 September 2022 - 140,309 140,309
Charge for year - 36,639 36,639
At 31 August 2023 - 176,948 176,948
Net book value
At 31 August 2023 1,123,349 129,769 1,253,118
At 31 August 2022 387,129 140,153 527,282

5. Fixed asset investments

2023 2022
£    £   
Loans to undertakings in which the company
has a participating interest

485,101

283,601
Other investments not loans 10,000 10,000
495,101 293,601

Additional information is as follows:
Other
investments
£   
Cost
At 1 September 2022
and 31 August 2023 10,000
Net book value
At 31 August 2023 10,000
At 31 August 2022 10,000

BORG5 LTD (REGISTERED NUMBER: 05531709)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. Fixed asset investments - continued
Loans to
other
participating
interests
£   
At 1 September 2022 283,601
New in year 201,500
At 31 August 2023 485,101

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 910,572 599,015
Other debtors 479,589 357,957
1,390,161 956,972

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 72,250 76,231
Taxation and social security 857,283 512,668
Other creditors 22,051 4,575
951,584 593,474

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr N M Phillips
Balance outstanding at start of year 166,403 22,450
Amounts advanced 46,542 143,953
Amounts repaid (30,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 182,945 166,403

Mrs E L Phillips
Balance outstanding at start of year 166,403 22,450
Amounts advanced 46,542 143,953
Amounts repaid (30,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 182,945 166,403