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Registration number: 05306636

Boosters Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Boosters Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Boosters Limited

Company Information

Directors

Mrs D E Lee

Mr C J Harrison

Registered office

Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW

Accountants

GW&Co. Ltd
Chartered Certified AccountantsWaterside Court
Falmouth Road
Penryn
United Kingdom
TR10 8AW

 

Boosters Limited

(Registration number: 05306636)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

2,750

Tangible assets

5

5,521

6,862

Other financial assets

6

23,500

23,500

 

29,021

33,112

Current assets

 

Stocks

7

1,934

2,000

Debtors

8

100,952

86,775

Cash at bank and in hand

 

88,804

107,023

 

191,690

195,798

Creditors: Amounts falling due within one year

9

(121,971)

(95,571)

Net current assets

 

69,719

100,227

Total assets less current liabilities

 

98,740

133,339

Creditors: Amounts falling due after more than one year

9

(4,106)

(14,167)

Provisions for liabilities

(930)

(930)

Net assets

 

93,704

118,242

Capital and reserves

 

Called up share capital

70

70

Capital redemption reserve

30

30

Retained earnings

93,604

118,142

Shareholders' funds

 

93,704

118,242

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 and 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 28 May 2025 and signed on its behalf by:
 

 

Boosters Limited

(Registration number: 05306636)
Balance Sheet as at 31 December 2024

.........................................
Mrs D E Lee
Director

.........................................
Mr C J Harrison
Director

 
     
 

Boosters Limited

Notes to the Unaudited 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:
Waterside Court Falmouth Road
Penryn
Cornwall
TR10 8AW
United Kingdom

These financial statements were authorised for issue by the Board on 28 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.

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 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.

 

Boosters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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

Motor expenses

not provided

Fixtures and fittings

20% straight line

Office equipment

33% straight line

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

Written off over 20 years

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.

 

Boosters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Boosters Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Boosters Limited

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

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2024

55,000

17,510

72,510

At 31 December 2024

55,000

17,510

72,510

Amortisation

At 1 January 2024

52,250

17,510

69,760

Amortisation charge

2,750

-

2,750

At 31 December 2024

55,000

17,510

72,510

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

2,750

-

2,750

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

2,275

10,022

1,969

14,266

Additions

1,647

-

-

1,647

At 31 December 2024

3,922

10,022

1,969

15,913

Depreciation

At 1 January 2024

589

6,815

-

7,404

Charge for the year

814

2,174

-

2,988

At 31 December 2024

1,403

8,989

-

10,392

Carrying amount

At 31 December 2024

2,519

1,033

1,969

5,521

At 31 December 2023

1,686

3,207

1,969

6,862

 

Boosters Limited

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

6

Other financial assets (current and non-current)

Art Work
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

23,500

23,500

At 31 December 2024

23,500

23,500

Impairment

Carrying amount

At 31 December 2024

23,500

23,500

7

Stocks

2024
£

2023
£

Other inventories

1,934

2,000

8

Debtors

Current

2024
£

2023
£

Trade debtors

84,448

79,872

Prepayments

14,029

-

Other debtors

2,475

6,903

 

100,952

86,775

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,030

10,000

Trade creditors

 

84,680

61,023

Taxation and social security

 

23,678

16,836

Other creditors

 

3,583

7,712

 

121,971

95,571

 

Boosters Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

4,106

14,167

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,106

14,167

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,030

10,000

11

Dividends

2024

2023

£

£

Interim dividend of £51,675.00 (2023 - £19,960.00) per ordinary share

51,675

19,960

 

 

12

Related party transactions

Included in Other Debtors is an amount of £1,225 due from the Directors, this amount will be repaid within 9 months of the year end.