Registered number
13057226
BORA & SONS LTD
Filleted Accounts
31 December 2023
BORA & SONS LTD
Registered number: 13057226
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 34,800 37,400
Tangible assets 4 93,988 114,619
128,788 152,019
Current assets
Stocks 8,595 11,449
Debtors 5 19,685 3,938
Cash at bank and in hand 170,575 50,126
198,855 65,513
Creditors: amounts falling due within one year 6 (71,783) (66,664)
Net current assets/(liabilities) 127,072 (1,151)
Net assets 255,860 150,868
Capital and reserves
Called up share capital 100 100
Profit and loss account 255,760 150,768
Shareholders' funds 255,860 150,868
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Muharrem BORA
Director
Approved by the board on 23 August 2024
BORA & SONS LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, excluding in the year of acquisiton , at rates calculated to write off the cost, less estimated residual value @ 18% pa (reducing balance method).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 40,000
At 31 December 2023 40,000
Amortisation
At 1 January 2023 2,600
Provided during the year 2,600
At 31 December 2023 5,200
Net book value
At 31 December 2023 34,800
At 31 December 2022 37,400
4 Tangible fixed assets
Fix-fittings & equipment Motor van Total
£ £ £
Cost
At 1 January 2023 114,284 25,495 139,779
At 31 December 2023 114,284 25,495 139,779
Depreciation
At 1 January 2023 20,571 4,589 25,160
Charge for the year 3,763 16,868 20,631
At 31 December 2023 24,334 21,457 45,791
Net book value
At 31 December 2023 89,950 4,038 93,988
At 31 December 2022 93,713 20,906 114,619
5 Debtors 2023 2022
£ £
Prepayments & other debtors 19,685 3,938
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,430 7,638
Taxation and social security costs 59,353 59,026
71,783 66,664
7 Other information
BORA & SONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 , Kinetica
13 Ramsgate Streeet
London
E8 2FD
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