Company registration number 04395827 (England and Wales)
BOOSTFOCAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
BOOSTFOCAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BOOSTFOCAL LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
521,589
921,589
Cash at bank and in hand
1,401
5,485
Net current assets
522,990
927,074
Creditors: amounts falling due after more than one year
4
(897,000)
(901,000)
Net (liabilities)/assets
(374,010)
26,074
Capital and reserves
Called up share capital
18
18
Profit and loss reserves
(374,028)
26,056
Total equity
(374,010)
26,074

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 year ended 31 July 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 year 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 14 April 2025 and are signed on its behalf by:
Mr M C Herbert
Director
Company Registration No. 04395827
BOOSTFOCAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Boostfocal Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Clive Court, Bartholomew's Walk, Ely, Cambridgeshire, CB7 4EH.

1.1
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:
1.2
Going concern

The financial statements have been prepared on the basis that the company will continue to receive financial support from other associated or group companiestrue.    

1.3
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.4
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to unlisted companies and investments in non-puttable ordinary shares.

1.5
Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

1.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effect interest method, less any impairment.

1.8

Loans to and from companies

Loans between group companies are interest free but repayable on notice of a year and a day so adjustment for effective interest would be negligible. These loans are recognised at the face value of the outstanding balance, less any impairment in the lending company’s accounts.

 

Other loans to or from the company are recognised at the face value of the outstanding balance if the loan is repayable on a notice of less than 13 months, less any impairment in the lending company’s accounts.

 

BOOSTFOCAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Loan to Exomedica Ltd
521,589
921,589
4
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
897,000
901,000
5
Reserves

Fair value reserve

 

This reserve records non-distributable gains/losses arising on adjusting investments to the deemed fair/market value.

Profit & loss account

 

This reserve represents all current and prior period retained profits and losses. A transfer has been made to the fair value reserve which represents the non-distributable adjustments to include investments in the accounts at fair/market value.

6
Parent company

The company is a subsidiary of Covelstone Holdings Limited which has the same Registered Office as Boostfocal Ltd.

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