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Company No: 12268467 (England and Wales)

BORIUS RESEARCH LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

BORIUS RESEARCH LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

BORIUS RESEARCH LTD

COMPANY INFORMATION

For the financial year ended 31 October 2024
BORIUS RESEARCH LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTOR Dr Mark Robert James
REGISTERED OFFICE Beech Tree House
Aldwark
York
YO61 1UB
United Kingdom
COMPANY NUMBER 12268467 (England and Wales)
ACCOUNTANT YorSolution Ltd
Wellington House
Aviator Court
York
YO30 4UZ
United Kingdom
BORIUS RESEARCH LTD

BALANCE SHEET

As at 31 October 2024
BORIUS RESEARCH LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,868 3,652
2,868 3,652
Current assets
Debtors 4 808 2,460
Cash at bank and in hand 5 2,768 1,500
3,576 3,960
Creditors: amounts falling due within one year 6 ( 1,036) ( 1,503)
Net current assets 2,540 2,457
Total assets less current liabilities 5,408 6,109
Net assets 5,408 6,109
Capital and reserves
Called-up share capital 7 10 10
Profit and loss account 5,398 6,099
Total shareholders' funds 5,408 6,109

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

Director's responsibilities:

The financial statements of Borius Research Ltd (registered number: 12268467) were approved and authorised for issue by the Director on 27 November 2024. They were signed on its behalf by:

Dr Mark Robert James
Director
BORIUS RESEARCH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
BORIUS RESEARCH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Borius Research Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Beech Tree House, Aldwark, York, YO61 1UB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 November 2023 4,904 4,904
Additions 988 988
At 31 October 2024 5,892 5,892
Accumulated depreciation
At 01 November 2023 1,252 1,252
Charge for the financial year 1,772 1,772
At 31 October 2024 3,024 3,024
Net book value
At 31 October 2024 2,868 2,868
At 31 October 2023 3,652 3,652

4. Debtors

2024 2023
£ £
Trade debtors 808 2,460

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 2,768 1,500

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 841 1,503
Other creditors 195 0
1,036 1,503

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
8 Ordinary shares of £ 1.00 each 8 8
2 Ordinary A shares of £ 1.00 each 2 2
10 10