Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investments | 4 |
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176,051 | 352,001 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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98,654 | 10 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (245,565) | (352,025) | ||
Total assets less current liabilities | (69,514) | (24) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Boss Praa Limited (registered number:
Mr L Burnard
Director |
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.
Boss Praa Limited (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 The Workshop Shute Lane, Porthleven, Helston, TR13 9HY, 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 £.
The 2023 financial statements have been restated to show the investment in subsidiaries which took place in August 2021 and October 2020. This has restated investments held in subsidiaries from £nil to £352,001, before the investment disposal which took place during the 2024 financial year.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in ordinary shares of Subsidiary company are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
The 2023 financial statements have been restated to show the investment in subsidiaries which took place in August 2021 and October 2020.
As previously reported | Adjustment | As restated | ||||
Year ended 31 March 2023 | £ | £ | £ | |||
Investment in Subsidiaries | 0 | 352,001 | 352,001 | |||
Intercompany creditors | (159) | (351,691) | (351,850) | |||
Director loan | 125 | (151) | (26) | |||
Other creditors | 0 | (159) | (159) |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 April 2023 |
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Disposals | (
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Transfer to Associate | (175,950) |
At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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Investments in associates | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 April 2023 |
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Transfer from Subsidiary |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.03.2024 |
Ownership 31.03.2023 |
Held |
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The Workshop Shute Lane, Porthleven, Helston, Cornwall, United Kingdom, TR13 9HY | Holiday and other collective accommodation |
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Direct |
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The Workshop Shute Lane, Porthleven, Helston, Cornwall, United Kingdom, TR13 9HY | Dormant Company |
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Direct |
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The Workshop Shute Lane, Porthleven, Helston, Cornwall, United Kingdom, TR13 9HY | Environmental consulting activities |
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Direct |
2024 | 2023 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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125 | 125 |
Other related party transactions
2024 | 2023 | ||
£ | £ | ||
PRAA Holdings Limited | (336,850) | (351,750) | |
REDS Group Ltd | 98,571 | (159) | |
Basore Ltd | (100) | (100) |
During the year amounts owed to PRAA Holdings Limited by the company was £336,850 (31/03/2023 - £351,750).
During the year amounts owed by REDS Group Limited to the company was £98,571 (31/03/2023 - £-159).
During the year amounts owed to Basore Limited by the company was £100 (31/03/2023 - £100).