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REGISTERED NUMBER: 01641906







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BORSHCH LIMITED

BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BORSHCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: S P Cox
P A Cox
A B Cox
M Ali





REGISTERED OFFICE: Nepture House
Upper Trinity Street
Birmingham
B9 4EG





REGISTERED NUMBER: 01641906





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,539 1,030,863

CURRENT ASSETS
Stocks 1,246,582 1,322,123
Debtors 5 964,705 1,522,688
Cash at bank and in hand 216,333 343,763
2,427,620 3,188,574
CREDITORS
Amounts falling due within one year 6 722,975 2,469,739
NET CURRENT ASSETS 1,704,645 718,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,908,184

1,749,698

CREDITORS
Amounts falling due after more than one
year

7

-

(5,343

)

PROVISIONS FOR LIABILITIES (45,017 ) (37,568 )
NET ASSETS 1,863,167 1,706,787

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,863,067 1,706,687
1,863,167 1,706,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





S P Cox - Director


BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Borshch Limited is a private company, limited by shares , registered in Not specified/Other. 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. 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 to include certain items at fair value.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 and work in progress are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out basis. Work in progress and finished goods include labour and attributable overheeads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For non-financial assets, the asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of the asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2023 - 46 ) .

BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 964,115 172,260 196,859 17,206 1,350,440
Additions - - 124,055 - 124,055
Disposals (964,115 ) - (83,425 ) - (1,047,540 )
At 31 January 2024 - 172,260 237,489 17,206 426,955
DEPRECIATION
At 1 February 2023 94,347 120,760 87,264 17,206 319,577
Charge for year 11,158 9,130 26,175 - 46,463
Eliminated on disposal (105,505 ) - (37,119 ) - (142,624 )
At 31 January 2024 - 129,890 76,320 17,206 223,416
NET BOOK VALUE
At 31 January 2024 - 42,370 161,169 - 203,539
At 31 January 2023 869,768 51,500 109,595 - 1,030,863

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,039 46,233
Amounts owed by group undertakings 889,676 1,475,055
Other debtors 38,990 1,400
964,705 1,522,688

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 461,208
Hire purchase contracts (see note 8) - 14,005
Trade creditors 213,230 303,694
Amounts owed to group undertakings - 4,858
Taxation and social security 200,673 1,086,915
Other creditors 309,072 599,059
722,975 2,469,739

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 5,343

BORSHCH LIMITED (REGISTERED NUMBER: 01641906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 14,005
Between one and five years - 5,343
- 19,348

Non-cancellable operating leases
2024 2023
£    £   
Within one year 67,000 67,000
Between one and five years 147,500 214,500
In more than five years - 9,250
214,500 290,750

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 461,208
Hire purchase - 19,348
- 480,556

The bank overdraft and loan are secured over the company's freehold property.

Liabilities in respect of hire purchase contracts are secured by the assets to which they relate.

10. ULTIMATE CONTROLLING PARTY

The company is 100% owned by Borshch Holdings Ltd. S Cox, a director, controls Borshch Holdings Ltd by virtue of his holding of the majority of the voting shares in the company.