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Registered number: 00838757
Borco Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Meacher-Jones
Chartered Accountants
6 St John's Court
Vicars Lane
Chester
Cheshire
CH1 1QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00838757
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,541 9,786
Investment Properties 5 4,345,000 4,270,000
Investments 6 1,390,992 1,390,992
5,744,533 5,670,778
CURRENT ASSETS
Debtors 7 4,755 76,771
Cash at bank and in hand 1,168,579 915,709
1,173,334 992,480
Creditors: Amounts Falling Due Within One Year 8 (1,032,648 ) (978,022 )
NET CURRENT ASSETS (LIABILITIES) 140,686 14,458
TOTAL ASSETS LESS CURRENT LIABILITIES 5,885,219 5,685,236
PROVISIONS FOR LIABILITIES
Deferred Taxation (166,116 ) (116,502 )
NET ASSETS 5,719,103 5,568,734
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 5,709,103 5,558,734
SHAREHOLDERS' FUNDS 5,719,103 5,568,734
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Katy Probert
Director
29 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Borco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00838757 . The registered office is 6 St John's Court, Vicars Lane, Chester, Cheshire, CH1 1QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 663 21,500 61,487 2,765 86,415
As at 31 March 2024 663 21,500 61,487 2,765 86,415
Depreciation
As at 1 April 2023 627 20,555 53,477 1,970 76,629
Provided during the period 9 236 801 199 1,245
As at 31 March 2024 636 20,791 54,278 2,169 77,874
Net Book Value
As at 31 March 2024 27 709 7,209 596 8,541
As at 1 April 2023 36 945 8,010 795 9,786
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 4,270,000
Revaluations 75,000
As at 31 March 2024 4,345,000
6. Investments
Unlisted Other Total
£ £ £
Cost
As at 1 April 2023 50 1,390,942 1,390,992
As at 31 March 2024 50 1,390,942 1,390,992
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
...CONTINUED
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Net Book Value
As at 31 March 2024 50 1,390,942 1,390,992
As at 1 April 2023 50 1,390,942 1,390,992
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,527 17,029
Other debtors 960 59,427
Other taxes and social security 268 315
4,755 76,771
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 68,560 77,935
VAT 15,021 23,201
Other creditors 35,491 39,795
Accruals and deferred income 91,864 70,076
Directors' loan accounts 821,712 767,015
1,032,648 978,022
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
10. Related Party Transactions
Capital and Inccome Estates Ltd

Capital and Inccome Estates Ltd

Capital and Income Estates Ltd is a 50% owned associated company of Borco Limited. During the year, £ Nil
(2023 - £ Nil) was paid to Capital and Income Estates Ltd to fund working capital. The balance of £1,390,942 was
outstanding at the year end.
Borco Limited was under the joint control of Mr K C Probert and Mrs P H Probert throughout the current and
previous year. Mr K C Probert and Mrs P H Probert are directors and majority shareholders.
At the year end, the company owed £303,402 (2023 - £285,420) to Mrs P H Probert and £518,310 (2023 - £481,595)
to Mr K C Probert. Interest on the outstanding amount was charged at 2.5% above the bank base rate
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