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Registration number: 11297676

Boss Consulting Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Boss Consulting Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Boss Consulting Services Ltd

Company Information

Directors

Mr R Bessell

Mr T R Payne

Mr L Miller

Mr B Noon

Registered office

101 Lincoln House
1-3 Brixton Road
London
SW9 6DE

Registered number

11297676

Accountants

Ripe LLP
Chartered Accountants
9a Burroughs Gardens
London
NW4 4AU

 

Boss Consulting Services Ltd

(Registration number: 11297676)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

7,918

1,704

Current assets

 

Debtors

4

4,050,832

2,855,920

Cash at bank and in hand

 

248,525

11,084

 

4,299,357

2,867,004

Creditors: Amounts falling due within one year

5

(3,076,333)

(1,547,419)

Net current assets

 

1,223,024

1,319,585

Net assets

 

1,230,942

1,321,289

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

1,230,842

1,321,189

Shareholders' funds

 

1,230,942

1,321,289

 

Boss Consulting Services Ltd

(Registration number: 11297676)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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.

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

.........................................
Mr R Bessell
Director

.........................................
Mr T R Payne
Director

.........................................
Mr L Miller
Director

.........................................
Mr B Noon
Director

 

Boss Consulting Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
101 Lincoln House
1-3 Brixton Road
London
SW9 6DE

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.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

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.

 

Boss Consulting Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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.

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:

Asset class

Depreciation method and rate

Office equipment

25% on cost

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Boss Consulting Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 5).

 

Boss Consulting Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

2,476,930

1,304,795

Amounts owed by related parties

8

605,387

739,175

Other debtors

 

968,515

811,950

   

4,050,832

2,855,920

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Trade creditors

 

283,642

155,434

Amounts owed to group undertakings

8

605,387

2,229

Taxation and social security

 

497,155

164,113

Other creditors

 

1,690,149

1,225,643

 

3,076,333

1,547,419

Included in other creditors is a factoring liability of £1,121,739, (2022: £954,407), secured against trade debtors.

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

29

29

29

29

Ordinary B shares of £1 each

30

30

30

30

Ordinary C shares of £1 each

20

20

20

20

Ordinary D shares of £1 each

20

20

20

20

Ordinary E shares of £1 each

1

1

1

1

100

100

100

100

 

Boss Consulting Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Dividends

2023

2022

£

£

Interim dividend of £12,689.24 (2022 - £8,299.60) per ordinary share

1,268,924

829,960

 

 

8

Related party transactions

Boss Professional Services Limited
Connected company

At the balance sheet date, the company owed £601,371, (2022: £2,230), to Boss Professional Services Limited.

Boss ERP Consulting Limited
Connected company

At the balance sheet date, Boss ERP Consulting Limited owed £299,887, (2022: £327,293), to the company.

Boss Energy Consulting Limited
Connected company

At the balance sheet date, the company owed £4,016 to Boss Energy Consulting Limited whereas Boss Energy Consulting Limited owed £93,083, to the company.

Smarttek Limited
Connected company

At the balance sheet date, Smarttek Limited owed £305,500, (2022: £310,500), to the company.

Boss Medical Science Limited
Connected company

At the balance sheet date, Boss Medical Science Limited owed £-, (2022: £8,300), to the company.