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Company No: 10373936 (England and Wales)

BOYLE TRICKS LEONARD LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BOYLE TRICKS LEONARD LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BOYLE TRICKS LEONARD LIMITED

BALANCE SHEET

As at 31 March 2024
BOYLE TRICKS LEONARD LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 5 476,280 486,719
476,280 486,719
Current assets
Debtors 6 130,425 53,389
Cash at bank and in hand 49,618 103,997
180,043 157,386
Creditors: amounts falling due within one year 7 ( 162,065) ( 132,222)
Net current assets 17,978 25,164
Total assets less current liabilities 494,258 511,883
Creditors: amounts falling due after more than one year 8 ( 208,182) ( 289,707)
Provision for liabilities ( 13,685) ( 15,897)
Net assets 272,391 206,279
Capital and reserves
Called-up share capital 9 140 140
Profit and loss account 272,251 206,139
Total shareholders' funds 272,391 206,279

For the financial 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.

Directors' responsibilities:

The financial statements of Boyle Tricks Leonard Limited (registered number: 10373936) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

Mrs J Leonard
Director
BOYLE TRICKS LEONARD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BOYLE TRICKS LEONARD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Boyle Tricks Leonard Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 13 Queens Terrace, Exeter, EX4 4HR, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

There has been a prior year adjustment in respect of dividend voted to the directors which had erroneously been omitted from the accounts.

As previously reported Adjustment As restated
Year ended 31 March 2023 £ £ £
Retained earnings at the beginning of the financial year 149,686 (25,000) 124,686
Retained earnings at the end of the financial year 231,139 (25,000) 206,139
Other creditors 21,404 25,000 46,404

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 11

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 5,229 5,229
At 31 March 2024 5,229 5,229
Accumulated amortisation
At 01 April 2023 5,229 5,229
At 31 March 2024 5,229 5,229
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

5. Tangible assets

Land and buildings Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 421,542 48,680 7,609 31,059 508,890
Additions 0 0 1,324 5,578 6,902
Disposals 0 0 0 ( 1,065) ( 1,065)
At 31 March 2024 421,542 48,680 8,933 35,572 514,727
Accumulated depreciation
At 01 April 2023 0 0 5,012 17,159 22,171
Charge for the financial year 0 12,170 728 3,894 16,792
Disposals 0 0 0 ( 516) ( 516)
At 31 March 2024 0 12,170 5,740 20,537 38,447
Net book value
At 31 March 2024 421,542 36,510 3,193 15,035 476,280
At 31 March 2023 421,542 48,680 2,597 13,900 486,719

6. Debtors

2024 2023
£ £
Trade debtors 114,396 44,023
Prepayments 8,174 7,019
VAT recoverable 0 1,298
Other debtors 7,855 1,049
130,425 53,389

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 7,439 9,696
Trade creditors 13,400 9,000
Taxation and social security 87,685 64,669
Obligations under finance leases and hire purchase contracts 4,037 2,453
Other creditors 49,504 46,404
162,065 132,222

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 175,992 253,480
Obligations under finance leases and hire purchase contracts 32,190 36,227
208,182 289,707

The bank loans are secured against the freehold property and all of the undertaking of the company.

The finance lease and hire purchase contracts are secured against the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 143,623 221,111

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
140 Ordinary shares of £ 1.00 each 140 140