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Registered number: 03216753
Trading Boundaries Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03216753
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,451,821 3,328,101
3,451,821 3,328,101
CURRENT ASSETS
Stocks 5 170,978 149,560
Debtors 6 257,895 117,514
Cash at bank and in hand 47,459 75,490
476,332 342,564
Creditors: Amounts Falling Due Within One Year 7 (1,357,931 ) (900,423 )
NET CURRENT ASSETS (LIABILITIES) (881,599 ) (557,859 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,570,222 2,770,242
Creditors: Amounts Falling Due After More Than One Year 8 (1,281,515 ) (1,350,280 )
NET ASSETS 1,288,707 1,419,962
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 1,384,639 1,384,639
Profit and Loss Account (96,032 ) 35,223
SHAREHOLDERS' FUNDS 1,288,707 1,419,962
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Clifford
Director
Mrs T M Thomson
Director
26 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Trading Boundaries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03216753 . The registered office is Trading Boundaries, Sheffield Green, Nr Fletching, East Sussex, TN22 3RB.
The company's principal activities continue to be that of the import and sale of foreign goods, furniture and soft furnishings. The company also runs events, weddings and provides over night accommodation.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 25% reducing balance
Motor Vehicles 33% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 16)
21 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 3,291,931 159,951 16,725 161,514 3,630,121
Additions 115,050 12,404 - 11,212 138,666
As at 30 June 2024 3,406,981 172,355 16,725 172,726 3,768,787
Depreciation
As at 1 July 2023 - 141,238 16,725 144,057 302,020
Provided during the period - 7,779 - 7,167 14,946
As at 30 June 2024 - 149,017 16,725 151,224 316,966
Net Book Value
As at 30 June 2024 3,406,981 23,338 - 21,502 3,451,821
As at 1 July 2023 3,291,931 18,713 - 17,457 3,328,101
5. Stocks
2024 2023
£ £
Stock 170,978 149,560
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 257,895 117,514
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 234,981 88,364
Bank loans and overdrafts 422,074 481,156
Other loans 12,150 11,601
Other creditors 598,781 255,695
Taxation and social security 89,945 63,607
1,357,931 900,423
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,256,703 1,325,869
Other loans 24,812 24,411
1,281,515 1,350,280
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 422,074 481,156
Other loans 12,150 11,601
434,224 492,757
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 1,256,703 1,325,869
Other loans 24,812 24,411
1,281,515 1,350,280
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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11. Directors Advances, Credits and Guarantees
Included in other creditors due within one year is a loan from the directors, Mr M A Clifford and Mrs T M Thomson, amounting to £(23,986) (2023 - £(21,177)).
12. Controlling Parties
The company was controlled throughout the current and previous period by the directors, Mr M A Clifford and Mrs T M Thomson, by the virtue of the fact they own all the ordinary issued share capital of the company.
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