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Registration number: NI635750

Booya Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Booya Limited

(Registration number: NI635750)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

78,067

97,586

Tangible assets

5

481,830

100,085

 

559,897

197,671

Current assets

 

Stocks

6

12,195

12,195

Debtors

7

33,607

34,601

Cash at bank and in hand

 

315,332

533,287

 

361,134

580,083

Creditors: due within one year

8

(147,192)

(191,081)

Net current assets

 

213,942

389,002

Net assets

 

773,839

586,673

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

773,739

586,573

Shareholders' funds

 

773,839

586,673

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Booya Limited

(Registration number: NI635750)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr John McClean
Director

 

Booya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 33 Ballynoe Road, Antrim, Co Antrim, BT41 2QX.

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Booya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Booya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

4

Intangible assets

Software development costs
 £

Total
£

Cost or valuation

At 1 February 2023

121,982

121,982

At 31 January 2024

121,982

121,982

Amortisation

At 1 February 2023

24,396

24,396

Amortisation charge

19,519

19,519

At 31 January 2024

43,915

43,915

Carrying amount

At 31 January 2024

78,067

78,067

At 31 January 2023

97,586

97,586

 

Booya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 February 2023

-

203,058

71,850

82,782

357,690

Additions

377,853

42,648

20,250

26,033

466,784

Disposals

-

(9,517)

(11,000)

-

(20,517)

At 31 January 2024

377,853

236,189

81,100

108,815

803,957

Depreciation

At 1 February 2023

-

175,607

36,359

45,639

257,605

Charge for the year

-

42,497

13,420

19,932

75,849

Eliminated on disposal

-

(6,927)

(4,400)

-

(11,327)

At 31 January 2024

-

211,177

45,379

65,571

322,127

Carrying amount

At 31 January 2024

377,853

25,012

35,721

43,244

481,830

At 31 January 2023

-

27,451

35,491

37,143

100,085

Included within the net book value of land and buildings above is £377,853 (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Booya Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

12,195

12,195

7

Debtors

2024
£

2023
£

Trade debtors

29,321

31,250

Prepayments

4,286

3,351

 

33,607

34,601

8

Creditors: due within one year

2024
£

2023
£

Trade creditors

11,628

2,566

Taxation and social security

104,632

143,533

Accruals and deferred income

3,000

1,605

Other creditors

27,932

43,377

147,192

191,081

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100