Boss Beverage Gases Limited 05526121 false 2023-08-27 2024-08-26 2024-08-26 The principal activity of the company is the supply of bottled gas and LPG. Digita Accounts Production Advanced 6.30.9574.0 true 05526121 2023-08-27 2024-08-26 05526121 2024-08-26 05526121 bus:OrdinaryShareClass1 2024-08-26 05526121 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-26 05526121 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-26 05526121 core:CurrentFinancialInstruments 2024-08-26 05526121 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-26 05526121 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-26 05526121 core:Goodwill 2024-08-26 05526121 core:FurnitureFittingsToolsEquipment 2024-08-26 05526121 core:MotorVehicles 2024-08-26 05526121 core:OtherPropertyPlantEquipment 2024-08-26 05526121 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-08-26 05526121 core:ParentEntities 2024-08-26 05526121 bus:SmallEntities 2023-08-27 2024-08-26 05526121 bus:AuditExemptWithAccountantsReport 2023-08-27 2024-08-26 05526121 bus:FullAccounts 2023-08-27 2024-08-26 05526121 bus:SmallCompaniesRegimeForAccounts 2023-08-27 2024-08-26 05526121 bus:RegisteredOffice 2023-08-27 2024-08-26 05526121 bus:Director1 2023-08-27 2024-08-26 05526121 bus:OrdinaryShareClass1 2023-08-27 2024-08-26 05526121 bus:PrivateLimitedCompanyLtd 2023-08-27 2024-08-26 05526121 core:Goodwill 2023-08-27 2024-08-26 05526121 core:FurnitureFittingsToolsEquipment 2023-08-27 2024-08-26 05526121 core:MotorVehicles 2023-08-27 2024-08-26 05526121 core:OfficeEquipment 2023-08-27 2024-08-26 05526121 core:OtherPropertyPlantEquipment 2023-08-27 2024-08-26 05526121 core:ToolsEquipment 2023-08-27 2024-08-26 05526121 core:KeyManagementPersonnel 2023-08-27 2024-08-26 05526121 core:ParentEntities 2023-08-27 2024-08-26 05526121 core:ParentEntities core:SaleOrPurchaseGoods 2023-08-27 2024-08-26 05526121 countries:EnglandWales 2023-08-27 2024-08-26 05526121 2023-08-26 05526121 core:Goodwill 2023-08-26 05526121 core:FurnitureFittingsToolsEquipment 2023-08-26 05526121 core:MotorVehicles 2023-08-26 05526121 core:OtherPropertyPlantEquipment 2023-08-26 05526121 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-26 05526121 core:ParentEntities 2023-08-26 05526121 2022-08-27 2023-08-26 05526121 2023-08-26 05526121 bus:OrdinaryShareClass1 2023-08-26 05526121 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-26 05526121 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-26 05526121 core:CurrentFinancialInstruments 2023-08-26 05526121 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-26 05526121 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-26 05526121 core:Goodwill 2023-08-26 05526121 core:FurnitureFittingsToolsEquipment 2023-08-26 05526121 core:MotorVehicles 2023-08-26 05526121 core:OtherPropertyPlantEquipment 2023-08-26 05526121 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-26 05526121 core:ParentEntities 2023-08-26 05526121 core:ParentEntities core:SaleOrPurchaseGoods 2022-08-27 2023-08-26 05526121 2022-08-26 05526121 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-26 05526121 core:ParentEntities 2022-08-26 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05526121

Boss Beverage Gases Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 26 August 2024

 

Boss Beverage Gases Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Boss Beverage Gases Limited

(Registration number: 05526121)
Balance Sheet as at 26 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

29,902

35,845

Tangible assets

5

131,245

146,248

 

161,147

182,093

Current assets

 

Stocks

6

36,000

32,000

Debtors

7

43,846

30,479

Cash at bank and in hand

 

50,551

63,646

 

130,397

126,125

Creditors: Amounts falling due within one year

8

(110,568)

(106,691)

Net current assets

 

19,829

19,434

Total assets less current liabilities

 

180,976

201,527

Creditors: Amounts falling due after more than one year

8

(105,027)

(110,859)

Provisions for liabilities

(24,936)

(27,787)

Net assets

 

51,013

62,881

Capital and reserves

 

Called up share capital

9

14,000

14,000

Retained earnings

37,013

48,881

Shareholders' funds

 

51,013

62,881

 

Boss Beverage Gases Limited

(Registration number: 05526121)
Balance Sheet as at 26 August 2024

For the financial year ending 26 August 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’. The profit and loss account and directors' report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................
Mr DC Velloza
Director

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 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:
73 Billinge Road
Wigan
Lancashire
WN5 9JN
England

These financial statements were authorised for issue by the Board on 23 May 2025.

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 are rounded to the nearest pound.

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.

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.

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

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:

Asset class

Depreciation method and rate

Office equipment

15% on reducing balance

Motor vehicles

25% on reducing balance

Equipment

10% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 20 years straight line

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.

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 27 August 2023

118,885

118,885

At 26 August 2024

118,885

118,885

Amortisation

At 27 August 2023

83,040

83,040

Amortisation charge

5,943

5,943

At 26 August 2024

88,983

88,983

Carrying amount

At 26 August 2024

29,902

29,902

At 26 August 2023

35,845

35,845

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Equipment
£

Total
£

Cost or valuation

At 27 August 2023

34,948

87,625

142,193

264,766

Additions

-

-

9,272

9,272

At 26 August 2024

34,948

87,625

151,465

274,038

Depreciation

At 27 August 2023

30,570

30,927

57,021

118,518

Charge for the year

657

14,174

9,444

24,275

At 26 August 2024

31,227

45,101

66,465

142,793

Carrying amount

At 26 August 2024

3,721

42,524

85,000

131,245

At 26 August 2023

4,378

56,698

85,172

146,248

Hire Purchase Contracts

Included within net book value of tangible fixed assets is £26,428 (2023 - £39,244) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £8,809 (2023 - £13,081).

6

Stocks

2024
£

2023
£

Other inventories

36,000

32,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

43,204

28,282

Prepayments

279

168

Other debtors

363

2,029

 

43,846

30,479

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,784

5,736

Trade creditors

 

79,858

57,387

Taxation and social security

 

3,815

5,309

Accruals and deferred income

 

4,241

21,494

Other creditors

 

16,870

16,765

 

110,568

106,691

Creditors include net obligations under hire purchase contracts which are secured of £5,783 (2023 - £5,735).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

9,941

15,773

Other non-current financial liabilities

 

95,086

95,086

 

105,027

110,859

Creditors include net obligations under hire purchase contracts which are secured of £9,941 (2022 - £15,773).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

14,000

14,000

14,000

14,000

       
 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

9,941

15,773

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,784

5,736

11

Related party transactions

Summary of transactions with parent

J & R Gases Limited (which owns 50% of the issued share capital) of Boss Beverage Gases Limited) J & R Gases Limited supplies goods to and purchases goods from the company on normal commercial terms.

Expenditure with and payables to related parties

2024

Parent
£

Purchase of goods

147,597

Amounts payable to related party

16,984

2023

Parent
£

Purchase of goods

149,032

Amounts payable to related party

15,827

Loans to related parties

2024

Key management
£

Total
£

At start of period

225

225

At end of period

225

225

2023

Key management
£

Total
£

At start of period

225

225

At end of period

225

225

Terms of loans to related parties

The loan to a director is interest free and repayable upon demand.
 

 

Boss Beverage Gases Limited

Notes to the Unaudited Financial Statements for the Year Ended 26 August 2024

Loans from related parties

2024

Parent
£

Key management
£

Total
£

At start of period

95,086

16,625

111,711

At end of period

95,086

16,625

111,711

2023

Parent
£

Key management
£

Total
£

At start of period

95,086

16,625

111,711

At end of period

95,086

16,625

111,711

Terms of loans from related parties

J & R Gases will not request repayment of any part of the loan within the next year and no interest has been charged.
 

 

11 Control

The company is jointly controlled by the directors Mr D C Velloza and Mr J J Velloza who each own 25% of the issued share capital of the company along with J & R Gases Limited which owns the remaining 50% of the issued share capital of the company.