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Registration number: 11246792

Boiler And Burner Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

image-name
 

Boiler And Burner Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Boiler And Burner Services Limited

Company Information

Directors

Mr Matthew Lee Poole

Mr Adam John Michael James

Company secretary

Mr Matthew Lee Poole

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Boiler And Burner Services Limited

(Registration number: 11246792)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

8,578

9,325

Other financial assets

1,650

1,650

 

10,228

10,975

Current assets

 

Debtors

5

15,721

648

Cash at bank and in hand

 

14,689

1,409

 

30,410

2,057

Creditors: Amounts falling due within one year

6

(18,918)

(18,956)

Net current assets/(liabilities)

 

11,492

(16,899)

Total assets less current liabilities

 

21,720

(5,924)

Creditors: Amounts falling due after more than one year

6

(1,020)

(2,019)

Provisions for liabilities

(1,630)

-

Net assets/(liabilities)

 

19,070

(7,943)

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

18,970

(8,043)

Shareholders' funds/(deficit)

 

19,070

(7,943)

For the financial year ending 31 March 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.

Approved and authorised by the Board on 4 July 2024 and signed on its behalf by:
 

 

Boiler And Burner Services Limited

(Registration number: 11246792)
Balance Sheet as at 31 March 2024

.........................................
Mr Matthew Lee Poole
Company secretary and director

.........................................
Mr Adam John Michael James
Director

 
     
 

Boiler And Burner Services Limited

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

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:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the Board on 4 July 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.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on a going concern basis notwithstanding the company's net liability position at the balance sheet date. The directors are confident that with their continued support, the company can remain in operational existence for the foreseeable future.

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.

 

Boiler And Burner Services Limited

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

Tax

The tax expense for the period comprises current and deferred 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 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:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

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.

 

Boiler And Burner Services Limited

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

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Boiler And Burner Services Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

2

2

2

2

 

Boiler And Burner Services Limited

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

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

918

17,500

4,894

23,312

Additions

743

-

1,050

1,793

At 31 March 2024

1,661

17,500

5,944

25,105

Depreciation

At 1 April 2023

638

10,255

3,094

13,987

Charge for the year

130

1,811

599

2,540

At 31 March 2024

768

12,066

3,693

16,527

Carrying amount

At 31 March 2024

893

5,434

2,251

8,578

At 31 March 2023

280

7,245

1,800

9,325

5

Debtors

Current

2024
£

2023
£

Trade Debtors

14,198

330

Prepayments

1,523

-

Other debtors

-

318

 

15,721

648

 

Boiler And Burner Services Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

10,382

18,125

Trade Creditors

 

235

-

Social security and other taxes

 

5,563

-

Other payables

 

351

51

Accrued expenses

 

830

780

Corporation tax liability

1,557

-

 

18,918

18,956

Due after one year

 

Loans and borrowings

7

1,020

2,019

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,020

2,019

 

Boiler And Burner Services Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

1,020

2,019

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,382

18,125

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £25,999 (2023 - £Nil). These are annual commitements under non-cancellable operating leases. Financial commitments relate to operating lease payments committed to be paid over periods following the balance sheet date. The total commitment payable within one year is £6,240 (2023 - Nil), with the balance of comittments falling due for payment more than one year after the balance sheet date.