AP Boston Ltd 12903941 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of retail of motor vehicle parts and accessories Digita Accounts Production Advanced 6.30.9574.0 true true 12903941 2022-11-01 2023-10-31 12903941 2023-10-31 12903941 bus:OrdinaryShareClass1 2023-10-31 12903941 core:CurrentFinancialInstruments 2023-10-31 12903941 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12903941 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12903941 core:FurnitureFittingsToolsEquipment 2023-10-31 12903941 core:MotorVehicles 2023-10-31 12903941 bus:SmallEntities 2022-11-01 2023-10-31 12903941 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 12903941 bus:AbridgedAccounts 2022-11-01 2023-10-31 12903941 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12903941 bus:RegisteredOffice 2022-11-01 2023-10-31 12903941 bus:Director1 2022-11-01 2023-10-31 12903941 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 12903941 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12903941 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 12903941 core:MotorVehicles 2022-11-01 2023-10-31 12903941 core:OfficeEquipment 2022-11-01 2023-10-31 12903941 core:OtherRelatedParties 2022-11-01 2023-10-31 12903941 countries:UnitedKingdom 2022-11-01 2023-10-31 12903941 2022-10-31 12903941 core:FurnitureFittingsToolsEquipment 2022-10-31 12903941 core:MotorVehicles 2022-10-31 12903941 2021-11-01 2022-10-31 12903941 2022-10-31 12903941 bus:OrdinaryShareClass1 2022-10-31 12903941 core:CurrentFinancialInstruments 2022-10-31 12903941 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 12903941 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 12903941 core:FurnitureFittingsToolsEquipment 2022-10-31 12903941 core:MotorVehicles 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12903941

AP Boston Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 October 2023

 

AP Boston Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

AP Boston Ltd

Company Information

Director

Mr J Brinkley

Registered office

Unit E3-E7 Norfolk Street Ind Est
Boston Trade Park
Boston
Lins
PE21 9HG

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

AP Boston Ltd

(Registration number: 12903941)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

53,784

43,950

Current assets

 

Stocks

325,328

364,555

Debtors

263,308

293,040

Cash at bank and in hand

 

7,062

60,584

 

595,698

718,179

Prepayments and accrued income

 

7,149

5,000

Creditors: Amounts falling due within one year

5

(660,228)

(520,477)

Net current (liabilities)/assets

 

(57,381)

202,702

Total assets less current liabilities

 

(3,597)

246,652

Creditors: Amounts falling due after more than one year

6

(116,394)

(140,000)

Accruals and deferred income

 

(1,525)

(1,250)

Net (liabilities)/assets

 

(121,516)

105,402

Capital and reserves

 

Called up share capital

7

1,000

1,000

Share premium reserve

55,500

55,500

Retained earnings

(178,016)

48,902

Shareholders' (deficit)/funds

 

(121,516)

105,402

 

AP Boston Ltd

(Registration number: 12903941)
Abridged Balance Sheet as at 31 October 2023

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2024
 

.........................................

Mr J Brinkley
Director

 

AP Boston Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit E3-E7 Norfolk Street Ind Est
Boston Trade Park
Boston
Lins
PE21 9HG

These financial statements were authorised for issue by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, based on the continued support of the company's bank and future financial projections. The business is making a loss and the director anticipates this not to continue into the future. The director remains fully committed to the company and forecasts that it will be able to meet its day to day working capital requirements to continue trading into the foreseeable future with his continued support. For this reason the director considers that the going concern basis is appropriate.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AP Boston Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

AP Boston Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2022 - 17).

 

AP Boston Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

37,536

26,995

64,531

Additions

38,321

-

38,321

Disposals

-

(19,095)

(19,095)

At 31 October 2023

75,857

7,900

83,757

Depreciation

At 1 November 2022

10,741

9,841

20,582

Charge for the year

13,965

2,923

16,888

Eliminated on disposal

-

(7,497)

(7,497)

At 31 October 2023

24,706

5,267

29,973

Carrying amount

At 31 October 2023

51,151

2,633

53,784

At 31 October 2022

26,795

17,155

43,950

5

Creditors: amounts falling due within one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £1,700 (2022 - £4,240).

6

Creditors: amounts falling due after more than one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £708 (2022 - £6,398).

 

AP Boston Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

8

Related party transactions

Summary of transactions with other related parties

Relationship: Shareholder of the company

 During the period the company received an unsecured, interest free, repayable on demand loan from it's related party companies. At the balance sheet date the amount due to the related party companies was £29,000 (2022 - £25,000).