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COMPANY REGISTRATION NUMBER: 14780888
Boss Property Rentals Ltd
Filleted Unaudited Financial Statements
30 April 2024
Boss Property Rentals Ltd
Financial Statements
Period from 4 April 2023 to 30 April 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 5
Boss Property Rentals Ltd
Statement of Financial Position
30 April 2024
30 Apr 24
Note
£
Fixed assets
Tangible assets
4
122,560
Current assets
Cash at bank and in hand
4,105
Creditors: amounts falling due within one year
5
( 62,391)
--------
Net current liabilities
( 58,286)
---------
Total assets less current liabilities
64,274
Creditors: amounts falling due after more than one year
6
( 75,112)
--------
Net liabilities
( 10,838)
--------
Capital and reserves
Called up share capital
7
100
Profit and loss account
( 10,938)
--------
Shareholders deficit
( 10,838)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 3 January 2025 , and are signed on behalf of the board by:
M. D. Henton
Director
Company registration number: 14780888
Boss Property Rentals Ltd
Notes to the Financial Statements
Period from 4 April 2023 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 The Nook, Brambly Croft, Aberdaugleddau, Sir Benfro, SA73 3UP, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25 % reducing balance
No depreciation is provided for on Long leasehold property
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Long leasehold property
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 4 April 2023
Additions
117,955
5,191
949
124,095
---------
-------
----
---------
At 30 April 2024
117,955
5,191
949
124,095
---------
-------
----
---------
Depreciation
At 4 April 2023
Charge for the period
1,298
237
1,535
---------
-------
----
---------
At 30 April 2024
1,298
237
1,535
---------
-------
----
---------
Carrying amount
At 30 April 2024
117,955
3,893
712
122,560
---------
-------
----
---------
5. Creditors: amounts falling due within one year
30 Apr 24
£
Accruals and deferred income
750
Other creditors
61,641
--------
62,391
--------
6. Creditors: amounts falling due after more than one year
30 Apr 24
£
Bank loan (secured)
75,112
--------
Included within creditors: amounts falling due after more than one year is an amount of £75,112 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7. Called up share capital
Issued, called up and fully paid
30 Apr 24
No.
£
Ordinary shares of £ 1 each
2
2
Ordinary A shares of £ 1 each
29
29
Ordinary B shares of £ 1 each
29
29
Ordinary C shares of £ 1 each
20
20
Ordinary D shares of £ 1 each
20
20
----
----
100
100
----
----
Share movements
No.
£
Ordinary
At 4 April 2023
Issue of shares
2
2
----
----
At 30 April 2024
2
2
----
----
No.
£
Ordinary A
At 4 April 2023
Issue of shares
29
29
----
----
At 30 April 2024
29
29
----
----
No.
£
Ordinary B
At 4 April 2023
Issue of shares
29
29
----
----
At 30 April 2024
29
29
----
----
No.
£
Ordinary C
At 4 April 2023
Issue of shares
20
20
----
----
At 30 April 2024
20
20
----
----
No.
£
Ordinary D
At 4 April 2023
Issue of shares
20
20
----
----
At 30 April 2024
20
20
----
----
8. Related party transactions
The company was under the control M. D. Henton and M. Lee, the directors, throughout the current period by virtue of their majority shareholdings. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.