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Registration number: 02537884

Boast International Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Boast International Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Boast International Limited

Registration number: 02537884

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

444,542

346,424

Current assets

 

Debtors

5

1,272,564

1,294,175

Cash at bank and in hand

 

2,471,197

2,265,266

 

3,743,761

3,559,441

Creditors: Amounts falling due within one year

6

(2,570,614)

(2,227,731)

Net current assets

 

1,173,147

1,331,710

Total assets less current liabilities

 

1,617,689

1,678,134

Provisions for liabilities

(25,308)

(18,447)

Net assets

 

1,592,381

1,659,687

Capital and reserves

 

Called up share capital

7

50

50

Capital redemption reserve

50

50

Retained earnings

1,592,281

1,659,587

Shareholders' funds

 

1,592,381

1,659,687



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Boast International Limited

Registration number: 02537884

Balance Sheet as at 31 December 2024 (continued)

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 

G S Boast
Director

D J Crane
Director

 
     

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
Unit 6 Summit Business Park
Langer Road
Felixstowe
Suffolk
IP11 2JB
England

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Government grants

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, government grants in relation to expenditure are credited are credited when the expenditure is charged to profit and loss.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 21).

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

272,636

182,011

454,647

Additions

94,685

17,090

111,775

At 31 December 2024

367,321

199,101

566,422

Depreciation

At 1 January 2024

-

108,223

108,223

Charge for the year

-

13,657

13,657

At 31 December 2024

-

121,880

121,880

Carrying amount

At 31 December 2024

367,321

77,221

444,542

At 31 December 2023

272,636

73,788

346,424

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,204,895

1,214,129

Prepayments

13,438

13,252

Other debtors

54,231

66,794

 

1,272,564

1,294,175

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

554,221

637,234

Director's loan account

674,295

549,173

Taxation and social security

 

403,611

311,005

Other creditors

 

938,487

730,319

 

2,570,614

2,227,731

 

Boast International Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary class A of £1 each

48

48

48

48

Ordinary class B of £1 each

2

2

2

2

50

50

50

50