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Registration number: 05992448

Boldgate Commercial Services Limited

Amended Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 November 2023

 

Boldgate Commercial Services Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Boldgate Commercial Services Limited

Company Information

Directors

Suzanne Jane Howse

Catherine Louise Soden

Registered office

Unit 12
Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX

 

Boldgate Commercial Services Limited

(Registration number: 05992448)
Abridged Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

24,201

7,636

Current assets

 

Stocks

5

40,574

43,022

Debtors

541,547

372,090

Cash at bank and in hand

 

19

2,480

 

582,140

417,592

Prepayments and accrued income

 

31,404

29,437

Creditors: Amounts falling due within one year

(526,813)

(445,273)

Net current assets

 

86,731

1,756

Total assets less current liabilities

 

110,932

9,392

Creditors: Amounts falling due after more than one year

(82,500)

(112,500)

Accruals and deferred income

 

(117,477)

(83,695)

Net liabilities

 

(89,045)

(186,803)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(89,055)

(186,813)

Shareholders' deficit

 

(89,045)

(186,803)

For the financial year ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

 

Boldgate Commercial Services Limited

(Registration number: 05992448)
Abridged Balance Sheet as at 29 November 2023

.........................................
Suzanne Jane Howse
Director

 

Boldgate Commercial Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 November 2023

1

General information

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

The address of its registered office is:
Unit 12
Brook Business Centre
Cowley Mill Road
Uxbridge
Middlesex
UB8 2FX
United Kingdom

These financial statements were authorised for issue by the Board on 29 August 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Boldgate Commercial Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 November 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

Straight Line 50%

Fixtures & Fittings

Straight Line 50%

Plant & Machinery

Straight Line 50%

Motor Vehicles

Straight Line 33%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

 

Boldgate Commercial Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 November 2023

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.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

Boldgate Commercial Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 30 November 2022

53,394

-

53,394

Additions

4,780

19,790

24,570

At 29 November 2023

58,174

19,790

77,964

Depreciation

At 30 November 2022

45,758

-

45,758

Charge for the year

5,201

2,804

8,005

At 29 November 2023

50,959

2,804

53,763

Carrying amount

At 29 November 2023

7,215

16,986

24,201

At 29 November 2022

7,636

-

7,636

5

Stocks

2023
£

2022
£

Work in progress

40,574

43,022

6

Related party transactions

 

Boldgate Commercial Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 November 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

95,563

74,472

Contributions paid to money purchase schemes

6,000

6,000

101,563

80,472