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Registered Number: 08883089
England and Wales

 

 

 

CARL BOSWELL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Carl Boswell
Registered Number 08883089
Registered Office 7 Bicester Road
Kidlington
Oxon
OX5 2LA
Accountants Cypher
Monkswell
Little Baldon
Oxford
OX44 9PU
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 223,630    251,168 
223,630    251,168 
Current assets      
Stocks 5 8,750    8,750 
Debtors 6 325,797    143,150 
Cash at bank and in hand 264,299    236,486 
598,846    388,386 
Creditors: amount falling due within one year 7 (182,669)   (107,645)
Net current assets 416,177    280,741 
 
Total assets less current liabilities 639,807    531,909 
Creditors: amount falling due after more than one year 8 (13,176)   (23,278)
Accruals and deferred income   (240)
Provisions for liabilities 9 (666)   (912)
Net assets 625,965    507,479 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 625,964    507,478 
Shareholders' funds 625,965    507,479 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 October 2024 and were signed by:


-------------------------------
Carl Boswell
Director
2
General Information
Carl Boswell Ltd is a private company, limited by shares, registered in England and Wales, registration number 08883089, registration address 7 Bicester Road, Kidlington, Oxon, OX5 2LA.


The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
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.
 
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the
financial statements. 

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Improvements 10 Years Straight Line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 3 Years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Off Balance Sheet Arrangements

The off balance-sheet commitment related to operating lease agreements at year-end was £71,624 (2023: £109,992).

3.

Average number of employees


Average number of employees during the year was 14 (2023 : 12).
4.

Tangible fixed assets

Cost or valuation Leasehold Improvements   Plant & Machinery   Motor Vehicles   Fixtures & Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 March 2023 90,851    33,394    328,470    31,474    9,822    494,011 
Additions 32,514        290    1,551    34,355 
Disposals          
At 29 February 2024 123,365    33,394    328,470    31,764    11,373    528,366 
Depreciation
At 01 March 2023 36,852    23,853    155,564    17,849    8,725    242,843 
Charge for year 12,321    2,386    43,226    2,783    1,177    61,893 
On disposals          
At 29 February 2024 49,173    26,239    198,790    20,632    9,902    304,736 
Net book values
Closing balance as at 29 February 2024 74,192    7,155    129,680    11,132    1,471    223,630 
Opening balance as at 01 March 2023 53,999    9,541    172,906    13,625    1,097    251,168 


5.

Stocks

2024
£
  2023
£
Stocks 8,750    8,750 
8,750    8,750 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 48,076    12,466 
Prepayments & Accrued Income 8,645    6,772 
Other Debtors 269,076    123,912 
325,797    143,150 
Related Party
Other Debtors include loans of £239,969 and £25,440 with related parties C S Boswell Holdings Ltd and Snips Hair Salon Ltd respectively. The loans are interest free and payable on demand. 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 62,117    24,839 
Bank Loans & Overdrafts 10,186    9,932 
Corporation Tax 74,515    36,597 
PAYE & Social Security 5,832    6,399 
Accrued Expenses 3,778    5,450 
Other Creditors 26,241    24,428 
182,669    107,645 
Related Party
Other Creditors include a loan of £12,815 to related party CS Boswell Memorials Ltd. The loan is interest free and repayable on demand. 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,949    23,274 
Directors' Loan Accounts 227   
13,176    23,278 

9.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions 666    912 
666    912 

3