Company registration number 09046761 (England and Wales)
BOYPAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
BOYPAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BOYPAL LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Investments
3
636,328
636,328
Current assets
Cash at bank and in hand
13,381
13,831
Creditors: amounts falling due within one year
5
(30,659)
(51,855)
Net current liabilities
(17,278)
(38,024)
Net assets
619,050
598,304
Capital and reserves
Called up share capital
6
112
106
Share premium account
49,988
24,994
Profit and loss reserves
568,950
573,204
Total equity
619,050
598,304

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
A J Boyle
W J Palmer
Director
Director
Company registration number 09046761 (England and Wales)
BOYPAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Boypal Limited is a private company limited by shares incorporated in England and Wales. The registered office is Proaktive House, Sidings Court, White Rose Way, Doncaster, DN4 5NU.

1.1
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.

1.2
Going concern

The trading assets of the subsidiary Ethos Financial Solutions Ltd were sold on 1 February 2023 as part of an asset purchase agreement. In the proceeding period end the directors are intending to wind up the holding company and subsidiary. As such the financial statements have not been prepared on a going concern basis. No adjustments have been made in relation to the adoption of the non going concern preparation basis. true

1.3
Reporting period

The financial statements have been produced for the 18 month period covering 1 January 2023 to 30 June 2024. As the prior period covered the 12 month period to 31 December 2022, it it not entirely comparable.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
2
2
BOYPAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -
3
Fixed asset investments
2024
2022
£
£
Shares in group undertakings
636,328
636,328
4
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Ethos Finanial Services Limited
United Kingdom
Independent financial advisors
Ordinary
100.00
5
Creditors: amounts falling due within one year
2024
2022
£
£
Amounts owed to group undertakings
30,659
51,855
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
-
100
-
100
Ordinary "A" Shares of £1 each
25
-
25
-
Ordinary "B" Shares of £1 each
9
6
9
6
Ordinary "C" Shares of £1 each
25
-
25
-
Ordinary "D" Shares of £1 each
25
-
25
-
Ordinary "E" Shares of £1 each
25
-
25
-
Ordinary "F" Shares of £1 each
3
-
3
-
112
106
112
106

On 1 February 2023, 6 £1 B Ordinary shares were issued as a result of an EMI scheme being exercised. The shares were fully paid up on this date.

 

On 5 September 2023, the 100 £1 Ordinary shares were re-designated to the following:
- 25 A Ordinary shares of £1 each
- 25 C Ordinary shares of £1 each
- 25 D Ordinary shares of £1 each
- 25 E Ordinary shares of £1 each

 

On the same day, the 3 B Ordinary shares were re-designated into 3 F Ordinary shares with a nominal value of £1 per share.

BOYPAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
7
EMI scheme

On 16 March 2020 an option agreement was entered into which granted the holder the right to subscribe under certain circumstances for 6 B Ordinary shares of £1 each at an exercise price of £4,166.67 per share. The option was exercised on 1 February 2023 and no further share options are outstanding.

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