REGISTERED NUMBER: |
Bostonair Technical Training Limited |
Financial Statements for the Year Ended 31st December 2023 |
REGISTERED NUMBER: |
Bostonair Technical Training Limited |
Financial Statements for the Year Ended 31st December 2023 |
Bostonair Technical Training Limited (Registered number: 06438632) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bostonair Technical Training Limited |
Company Information |
for the year ended 31st December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Bostonair Technical Training Limited (Registered number: 06438632) |
Balance Sheet |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Bostonair Technical Training Limited (Registered number: 06438632) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
Bostonair Technical Training Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements. |
Going concern |
The directors, having assessed the situation and developed expectations for the foreseeable future, have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. Therefore these accounts have been prepared on the going concern basis. |
Turnover |
Turnover comprises revenue in respect of training services supplied during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the training courses are held. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. |
The company assesses at each reporting date whether tangible fixed assets are impaired. |
Depreciation is charged to the profit and loss account on a straight line basis over the estimated useful lives of each part of an item of tangible fixed assets. The estimated useful lives are as follows: |
- Computer equipment | - 5 years |
- Fixtures and fittings | - 4 years |
Depreciation methods, useful lives and residual values are reviewed, if there is an indication, of a significant change since last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits. |
Basic financial instruments |
Trade and other debtors/creditors |
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. |
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. |
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. |
Bostonair Technical Training Limited (Registered number: 06438632) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
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. |
Foreign currencies |
Transactions in foreign currencies are translated into the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are retranslated to the functional currency at foreign exchange rates ruling at the dates the fair value was determined. Foreign exchange differences arising on translation are recognised in the profit and loss account. |
Expenses |
Operating lease |
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expense. |
Interest receivable and interest payable |
Interest income and interest payable are recognised in profit and loss as they accrue, using the effective interest method. Dividend income is recognised in the profit and loss account on the date the company's right to receive payments is established. Foreign currency gains and losses are reported on a net basis. |
Provisions |
A provision is recognised in the balance sheet when the Company has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
Where the Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within its group, the company treats the guarantee contract as a contingent liability until such time as it becomes probable that the company will be required to make a payment under the guarantee. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Bostonair Technical Training Limited (Registered number: 06438632) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests | 820 | 43,211 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to participating interests | 857 | - |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 1,000 | 1,000 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
The company is party to a unlimited multilateral guarantee and debenture in favour of HSBC Bank in respect of group borrowings. |
Bostonair Technical Training Limited (Registered number: 06438632) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
10. | 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. |
Income from | Expenditure |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bostonair Limited | 62,698 | 33,274 | - | - |
Boston Energy Limited | 2,500 | 2,500 | 28,478 | - |
65,198 | 35,774 | 28,478 | - |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate and ultimate parent company is Bostonair Group Limited, whose group accounts the results of the company are consolidated within. |
Mr M N Parkes is the ultimate controlling party through his majority shareholding in Bostonair Group Limited. |
The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. |