Registration number: 03228484

Borsuk Software Engineering Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Borsuk Software Engineering Limited

Company Information

Director

Mr Paul James Cunningham

Company secretary

Mrs Ellen Kingsley

Registered office

37 Market Square Witney Oxon OX28 6RE

Accountants

ReesRussell LLP Chartered Accountants 37 Market Square Witney Oxfordshire OX28 6RE

Borsuk Software Engineering Limited

(Registration number: 03228484)
Balance Sheet as at 31 July 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,387	1,321
Current assets
Stocks		648	-
Debtors	6	5,786	6,970
Other financial assets	5	5,045	5,000
Cash at bank and in hand		16,609	23,754
		28,088	35,724
Creditors: Amounts falling due within one year	7	(14,517)	(14,868)
Net current assets		13,571	20,856
Total assets less current liabilities		16,958	22,177
Provisions for liabilities		(644)	(264)
Net assets		16,314	21,913
Capital and reserves
Called up share capital		1	1
Retained earnings		16,313	21,912
Shareholders' funds		16,314	21,913

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 March 2025
 

Mr Paul James Cunningham
Director

Borsuk Software Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Market Square
Witney
Oxon
OX28 6RE

The principal place of business is:
5 Cook Row
Ascott-under-Wychwood
Chipping Norton
Oxon
OX7 6FY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% reducing balance
Fixtures and fittings	25% reducing balance
Office equipment	25% reducing balance

Borsuk Software Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Borsuk Software Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4	Tangible assets

	Computer equipment £	Fixtures, fittings and office equipment £	Total £
Cost or valuation
At 1 August 2023	6,589	5,381	11,970
Additions	-	3,597	3,597
Disposals	(6,048)	(2,246)	(8,294)
At 31 July 2024	541	6,732	7,273
Depreciation
At 1 August 2023	6,374	4,275	10,649
Charge for the year	40	1,089	1,129
Eliminated on disposal	(5,993)	(1,899)	(7,892)
At 31 July 2024	421	3,465	3,886
Carrying amount
At 31 July 2024	120	3,267	3,387
At 31 July 2023	215	1,106	1,321

5	Other financial assets (current and non-current)

	2024 £	2023 £
Current financial assets
Financial assets at fair value through profit and loss	5,045	5,000

	Financial assets at fair value through profit and loss £	Total £
Current financial assets
Cost or valuation
CA investment - listed other shares bfwd	5,000	5,000
Additions	45	45
At 31 July 2024	5,045	5,045
Impairment
Carrying amount
At 31 July 2024	5,045	5,045

Borsuk Software Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current	2024 £	2023 £
Trade debtors	3,100	2,970
Other debtors	2,686	4,000
	5,786	6,970

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	11,714	12,479
Accruals and deferred income	1,943	1,765
Other creditors	860	624
	14,517	14,868