BOSTA SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Company registration number SC716402 (Scotland)
PAGES FOR FILING WITH REGISTRAR
BOSTA SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BOSTA SERVICES LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
30 November 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,147
Current assets
Debtors
4
17,251
Cash at bank and in hand
2
10,285
2
27,536
Creditors: amounts falling due within one year
5
(32,656)
Net current assets/(liabilities)
2
(5,120)
Net assets/(liabilities)
2
(973)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(975)
Total equity
2
(973)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 November 2024
Mr Alasdair Mackenzie
Director
Company registration number SC716402 (Scotland)
BOSTA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Bosta Services Ltd is a private company limited by shares incorporated in Scotland. The registered office is 44 Bank Street, Kilmarnock, Ayrshire, KA1 1HA.
1.1
Reporting period
These financial statements cover the ten months from 1 December 2023 to 30 September 2024 while the comparative amounts cover the year to 30 November 2023. As a result the amounts are not entirely comparative.
The director opted to to shorten the reporting period as the company ceased trading on 31 May 2024.
1.2
Accounting convention
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
The company ceased trading on 31 May 2024 and it is the director's intention to dissolve the company as soon as all liabilities have been settled. These financial statements have been prepared on this basis.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover relates to the provision of furniture manufacturing.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Straight line
Computers
33.33% Straight line
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
BOSTA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
2
2
BOSTA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
7,537
Disposals
(7,537)
At 30 September 2024
Depreciation and impairment
At 1 December 2023
3,390
Eliminated in respect of disposals
(3,390)
At 30 September 2024
Carrying amount
At 30 September 2024
At 30 November 2023
4,147
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,397
Other debtors
8,854
17,251
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
44
Taxation and social security
6,390
Other creditors
26,222
32,656
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
BOSTA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 5 -
7
Directors' transactions
At the beginning of the year the company owed the director £24,622 (2023 £75,622). During the year the director introduced funds of £1,835 (2023 £7,500) and was repaid £26,456 (2023 £58,500) leaving a nil balance at the balance sheet date (2023 £24,622).