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REGISTERED NUMBER: 05474467 (England and Wales)














BYCROFTS OF BOSTON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BYCROFTS OF BOSTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: J Greenfield
N Lote





SECRETARY: N Lote





REGISTERED OFFICE: 7 Dolphin Lane
Boston
Lincolnshire
PE21 6EU





REGISTERED NUMBER: 05474467 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

ABRIDGED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 3,972 4,632
Tangible assets 4 31,587 27,474
35,559 32,106

CURRENT ASSETS
Stocks 7,350 8,950
Debtors 48,735 51,629
Cash at bank and in hand 44,029 52,248
100,114 112,827
CREDITORS
Amounts falling due within one year 52,008 58,288
NET CURRENT ASSETS 48,106 54,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,665

86,645

CREDITORS
Amounts falling due after more than one
year

(785

)

-

PROVISIONS FOR LIABILITIES (6,941 ) (5,174 )
NET ASSETS 75,939 81,471

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 75,937 81,469
SHAREHOLDERS' FUNDS 75,939 81,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





N Lote - Director


BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents takings and is recognised at the point of sale with the exception of trade accounts which are recognised when invoiced. Turnover is stated net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 16,512
AMORTISATION
At 1 July 2023 11,880
Amortisation for year 660
At 30 June 2024 12,540
NET BOOK VALUE

At 30 June 2024 3,972
At 30 June 2023 4,632

BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 124,612
Additions 10,359
At 30 June 2024 134,971
DEPRECIATION
At 1 July 2023 97,138
Charge for year 6,246
At 30 June 2024 103,384
NET BOOK VALUE
At 30 June 2024 31,587
At 30 June 2023 27,474

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 9,420
At 30 June 2024 9,420
DEPRECIATION
Charge for year 1,413
At 30 June 2024 1,413
NET BOOK VALUE
At 30 June 2024 8,007

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
N Lote
Balance outstanding at start of year 21,531 21,491
Amounts advanced 42,433 42,540
Amounts repaid (43,000 ) (42,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,964 21,531

BYCROFTS OF BOSTON LIMITED (REGISTERED NUMBER: 05474467)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J Greenfield
Balance outstanding at start of year 20,285 20,201
Amounts advanced 42,334 42,584
Amounts repaid (43,000 ) (42,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,619 20,285

6. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.