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REGISTERED NUMBER: 04705800 (England and Wales)









Unaudited Financial Statements

for the Year Ended 29 February 2024

for

BORWOOD LIMITED

BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BORWOOD LIMITED

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: P M Borrageiro
S K Woodhams





REGISTERED OFFICE: Davenport House
16 Pepper Street
London
E14 9RP





REGISTERED NUMBER: 04705800 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 80,814 103,300

CURRENT ASSETS
Debtors 6 139,808 144,747
Cash at bank 297,162 86,535
436,970 231,282
CREDITORS
Amounts falling due within one year 7 (317,366 ) (152,331 )
NET CURRENT ASSETS 119,604 78,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,418

182,251

PROVISIONS FOR LIABILITIES (19,400 ) (18,919 )
NET ASSETS 181,018 163,332

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 180,018 162,332
181,018 163,332

BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Balance Sheet - continued
29 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





S K Woodhams - Director


BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. COMPANY INFORMATION

Borwood Limited 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is recognised when the goods are delivered or the service is performed to the extent that it is probable that economic benefits will flow into the Company and excludes value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment 33% reducing balance

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.

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.

BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees and one director. Contributions are expenses as they become payable.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023 560,158
Additions 19,373
Disposals (359,947 )
At 29 February 2024 219,584
DEPRECIATION
At 1 March 2023 456,858
Charge for year 36,736
Eliminated on disposal (354,824 )
At 29 February 2024 138,770
NET BOOK VALUE
At 29 February 2024 80,814
At 28 February 2023 103,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 122,461 111,136
Other debtors 17,347 33,611
139,808 144,747

BORWOOD LIMITED (REGISTERED NUMBER: 04705800)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within trade debtors are amounts owed by other group entities totalling £63,610 (2023 £66,365).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 285,891 125,432
Amounts owed to group undertakings - 2,599
Taxation and social security 23,271 16,572
Other creditors 8,204 7,728
317,366 152,331

Included within trade creditors are amounts owing to other group entities totalling £270,495 (2023 £91,115).

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 1,240

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The parent company is Borwood Holdings PTE. LTD, a private company limited by shares, which is incorporated in the Republic of Singapore. The registered office and principal place of business is 3 Phillip Street #14-05, Royal Group Building, Singapore 048693.