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Registered number: 11228707
Market Boosters Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Director James Smirthwaite
Company Number 11228707
Registered Office SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Page 1
Page 2
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Market Boosters Ltd For The Year Ended 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Market Boosters Ltd For The Year Ended 28 February 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Market Boosters Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Market Boosters Ltd and state those matters that we have agreed to state to the director of Market Boosters Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Market Boosters Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Market Boosters Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Market Boosters Ltd . You consider that Market Boosters Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Market Boosters Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/10/2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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Statement of Financial Position
Registered number: 11228707
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,444 45,328
31,444 45,328
CURRENT ASSETS
Debtors 5 57,649 35,125
Cash at bank and in hand 34,932 95,638
92,581 130,763
Creditors: Amounts Falling Due Within One Year 6 (126,781 ) (150,149 )
NET CURRENT ASSETS (LIABILITIES) (34,200 ) (19,386 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,756 ) 25,942
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 - (4,856 )
NET (LIABILITIES)/ASSETS (2,756 ) 21,086
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement (2,757 ) 21,085
SHAREHOLDERS' FUNDS (2,756) 21,086
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
James Smirthwaite
Director
10/10/2024
The notes on pages 5 to 9 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Market Boosters Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11228707 . The registered office is SAS House, Chipperfield Road, Kings Langley, Hertfordshire, WD4 9JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The company has full support from its Director and therefore is deemed a going concern.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the director is required to make judgements, estimates, and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
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2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.7. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 30,000 35,825 3,391 69,216
As at 28 February 2024 30,000 35,825 3,391 69,216
Depreciation
As at 1 March 2023 12,000 10,420 1,468 23,888
Provided during the period 6,000 7,165 719 13,884
As at 28 February 2024 18,000 17,585 2,187 37,772
Net Book Value
As at 28 February 2024 12,000 18,240 1,204 31,444
As at 1 March 2023 18,000 25,405 1,923 45,328
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 27,945
Prepayments and accrued income 212 4,506
Other debtors 56,674 2,674
Deferred tax current asset 737 -
VAT 26 -
57,649 35,125
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 65 9,418
Other taxes and social security - 2,173
VAT - 7,683
Other creditors 126,716 122,798
Accruals and deferred income - 8,077
126,781 150,149
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences (737) 4,856
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 4,856 4,856
Deferred taxation (5,593 ) (5,593 )
Balance at 28 February 2024 (737 ) (737)
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10 Ordinary Shares of £ 0.10 each 1 1
10. Related Party Transactions
At the year end £56,674 (2023: £2,674) was owed from Butterfly Property Developments Limited, a company in which James Smirthwaite is a director. The balance is included within other debtors.
During the year Market Boosters Limited had sales of £31,106 (2023: £61,663) and purchases of £125 (2023: £24,103) with MESH4 Limited, a company in which James Smirthwaite is a director. At the year end £126,716 (2023: £122,404) was owed to MESH4 Limited and is included within other creditors.
During the year Market Boosters Limited had sales of £Nil (2023: £476) with Kenneth Turner Limited, a company in which James Smirthwaite is a director.
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11. Ultimate Controlling Party
The company's ultimate controlling party is James Smirthwaite by virtue of his ownership of 100% of the issued share capital in the company.
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