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REGISTERED NUMBER: 02873223 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2024

for

Boston Interiors Limited

Boston Interiors Limited (Registered number: 02873223)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Boston Interiors Limited (Registered number: 02873223)

Balance Sheet
28 February 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250,350 250,152
Investments 5 48,431 48,431
Investment property 6 3,872,007 3,872,007
4,170,788 4,170,590

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 7 6,517,973 6,746,437
Cash at bank 4,840,628 3,174,884
11,363,601 9,926,321
CREDITORS
Amounts falling due within one year 8 1,360,042 1,221,809
NET CURRENT ASSETS 10,003,559 8,704,512
TOTAL ASSETS LESS CURRENT LIABILITIES 14,174,347 12,875,102

PROVISIONS FOR LIABILITIES 123,668 120,865
NET ASSETS 14,050,679 12,754,237

CAPITAL AND RESERVES
Called up share capital 136,350 136,350
Retained earnings 13,914,329 12,617,887
SHAREHOLDERS' FUNDS 14,050,679 12,754,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Boston Interiors Limited (Registered number: 02873223)

Balance Sheet - continued
28 February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr A P Burke - Director


Boston Interiors Limited (Registered number: 02873223)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Boston Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02873223

Registered office: Stonewall Place
Silverdale
Newcastle Under Lyme
Staffordshire
ST5 6NR

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Boston Interiors Limited (Registered number: 02873223)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investments
The fixed asset investment is shown at most recent open market valuation. Any aggregate surplus or deficit arising from changes in fair values is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 190,109 553,628 75,832 486,375 1,305,944
Additions - 70,685 1,856 - 72,541
At 28 February 2024 190,109 624,313 77,688 486,375 1,378,485
DEPRECIATION
At 1 March 2023 183,380 452,431 61,135 358,846 1,055,792
Charge for year 2,772 34,377 3,311 31,883 72,343
At 28 February 2024 186,152 486,808 64,446 390,729 1,128,135
NET BOOK VALUE
At 28 February 2024 3,957 137,505 13,242 95,646 250,350
At 28 February 2023 6,729 101,197 14,697 127,529 250,152

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023
and 28 February 2024 48,431
NET BOOK VALUE
At 28 February 2024 48,431
At 28 February 2023 48,431

Boston Interiors Limited (Registered number: 02873223)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 28 February 2024 is represented by:

Other
investments
£   
Valuation in 2023 2,500
Valuation in 2022 20,931
Cost 25,000
48,431

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 3,872,007
NET BOOK VALUE
At 28 February 2024 3,872,007
At 28 February 2023 3,872,007

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2023 375,813
Cost 3,496,194
3,872,007

The directors have revalued the property in August 2023 based on the open market value and, in their opinion, this reflects the fair value at 28 February 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 967,440 1,225,768
Amounts owed by group undertakings 5,533,279 5,509,374
Other debtors 17,254 11,295
6,517,973 6,746,437

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 533,439 436,801
Taxation and social security 761,934 683,043
Other creditors 64,669 101,965
1,360,042 1,221,809

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases expiring in 2031 amount to £700,000 (2023: £900,000).

Boston Interiors Limited (Registered number: 02873223)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Boston Interiors Holdings Limited.