0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,000 3,750 625 4,375 10,625 11,250 xbrli:pure xbrli:shares iso4217:GBP 09850215 2023-01-01 2023-12-31 09850215 2023-12-31 09850215 2022-12-31 09850215 2022-01-01 2022-12-31 09850215 2022-12-31 09850215 2021-12-31 09850215 core:NetGoodwill 2023-01-01 2023-12-31 09850215 core:FurnitureFittings 2023-01-01 2023-12-31 09850215 core:MotorVehicles 2023-01-01 2023-12-31 09850215 bus:Director3 2023-01-01 2023-12-31 09850215 core:NetGoodwill 2022-12-31 09850215 core:NetGoodwill 2023-12-31 09850215 core:FurnitureFittings 2022-12-31 09850215 core:MotorVehicles 2022-12-31 09850215 core:LandBuildings 2023-12-31 09850215 core:FurnitureFittings 2023-12-31 09850215 core:MotorVehicles 2023-12-31 09850215 core:WithinOneYear 2023-12-31 09850215 core:WithinOneYear 2022-12-31 09850215 core:AfterOneYear 2023-12-31 09850215 core:AfterOneYear 2022-12-31 09850215 core:ShareCapital 2023-12-31 09850215 core:ShareCapital 2022-12-31 09850215 core:RetainedEarningsAccumulatedLosses 2023-12-31 09850215 core:RetainedEarningsAccumulatedLosses 2022-12-31 09850215 core:NetGoodwill 2022-12-31 09850215 core:LandBuildings 2022-12-31 09850215 core:FurnitureFittings 2022-12-31 09850215 core:MotorVehicles 2022-12-31 09850215 bus:SmallEntities 2023-01-01 2023-12-31 09850215 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09850215 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09850215 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09850215 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 09850215
BOSS-RETRO LIMITED
Filleted Unaudited Financial Statements
31 December 2023
BOSS-RETRO LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
4
10,625
11,250
Tangible assets
5
510,827
513,844
---------
---------
521,452
525,094
Current assets
Cash at bank and in hand
4,666
996
Creditors: amounts falling due within one year
6
256,810
155,130
---------
---------
Net current liabilities
252,144
154,134
---------
---------
Total assets less current liabilities
269,308
370,960
Creditors: amounts falling due after more than one year
7
81,128
214,118
Provisions
Taxation including deferred tax
3,248
3,821
---------
---------
Net assets
184,932
153,021
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
184,930
153,019
---------
---------
Shareholders funds
184,932
153,021
---------
---------
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 31 December 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 .
BOSS-RETRO LIMITED
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Miss Karczewski
Director
Company registration number: 09850215
BOSS-RETRO LIMITED
Notes to the Financial Statements
Year ended 31 December 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 Swallow House, Parsons Road, Washington, Tyne and Wear, NE37 1EZ.
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, 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.
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.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
15% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
15,000
--------
Amortisation
At 1 January 2023
3,750
Charge for the year
625
--------
At 31 December 2023
4,375
--------
Carrying amount
At 31 December 2023
10,625
--------
At 31 December 2022
11,250
--------
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
493,735
31,519
2,400
527,654
---------
--------
-------
---------
Depreciation
At 1 January 2023
13,348
462
13,810
Charge for the year
2,726
291
3,017
---------
--------
-------
---------
At 31 December 2023
16,074
753
16,827
---------
--------
-------
---------
Carrying amount
At 31 December 2023
493,735
15,445
1,647
510,827
---------
--------
-------
---------
At 31 December 2022
493,735
18,171
1,938
513,844
---------
--------
-------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
19,010
Amounts owed to group undertakings and undertakings in which the company has a participating interest
243,132
124,848
Corporation tax
11,960
8,714
Other creditors
1,718
2,558
---------
---------
256,810
155,130
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
132,990
Other creditors
81,128
81,128
--------
---------
81,128
214,118
--------
---------
Loan included in creditors is secured against the property.
8. Directors' advances, credits and guarantees
Included in creditors due in more than one year is a directors loan balance of £81,128( 2022: £81,128).
9. Related party transactions
The company was under the control of Mr S Ski throughout the prior year and current year until 12 June 2023. The company is now under the control of Miss S Karczewski. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.