Company Registration No. 01641906 (England and Wales)
Borshch Ltd
Unaudited accounts
for the year ended 31 January 2025
Borshch Ltd
Unaudited accounts
Contents
Borshch Ltd
Company Information
for the year ended 31 January 2025
Directors
Alicia Barbara Cox
Simon Peter Cox
Philip Andrew Cox
Mohammed Ali
Company Number
01641906 (England and Wales)
Registered Office
Neptune House
Upper Trinity Street
Birmingham
B9 4EG
United Kingdom
Accountants
Penns Business Consultants Ltd
288 Penns Lane
Sutton Coldfield
West Midlands
B76 1LG
Borshch Ltd
Statement of financial position
as at 31 January 2025
Tangible assets
223,678
203,539
Inventories
1,080,972
1,246,582
Cash at bank and in hand
463,523
216,333
Creditors: amounts falling due within one year
(727,418)
(722,975)
Net current assets
1,790,043
1,704,645
Total assets less current liabilities
2,013,721
1,908,184
Provisions for liabilities
Deferred tax
(50,878)
(45,017)
Net assets
1,962,843
1,863,167
Called up share capital
100
100
Profit and loss account
1,962,743
1,863,067
Shareholders' funds
1,962,843
1,863,167
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by
Simon Peter Cox
Director
Company Registration No. 01641906
Borshch Ltd
Notes to the Accounts
for the year ended 31 January 2025
Borshch Ltd is a private company, limited by shares, registered in England and Wales, registration number 01641906. The registered office is Neptune House, Upper Trinity Street, Birmingham, B9 4EG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 50 years
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
Stocks and work in progress have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out basis. Work in progress and finished goods include labour and attributable overheads where relevant.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Borshch Ltd
Notes to the Accounts
for the year ended 31 January 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.
For non-financial assets, the asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of the asset is the higher of its fair value less costs to sell and its value in use.
For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Borshch Ltd
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2024
237,489
172,260
17,206
426,955
Additions
63,450
-
-
63,450
Disposals
(6,000)
-
-
(6,000)
At 31 January 2025
294,939
172,260
17,206
484,405
At 1 February 2024
76,320
129,890
17,206
223,416
Charge for the year
37,288
5,936
-
43,224
On disposals
(5,913)
-
-
(5,913)
At 31 January 2025
107,695
135,826
17,206
260,727
At 31 January 2025
187,244
36,434
-
223,678
At 31 January 2024
161,169
42,370
-
203,539
Amounts falling due within one year
Trade debtors
48,352
36,039
Amounts due from group undertakings etc.
873,684
889,676
Other debtors
50,930
38,990
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
411,895
213,230
Taxes and social security
152,006
200,673
Other creditors
155,008
281,373
7
Operating lease commitments
2025
2024
At 31 January 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
134,000
67,000
Later than one year and not later than five years
283,250
147,500
Borshch Ltd
Notes to the Accounts
for the year ended 31 January 2025
The company is 100% owned by Borshch Holdings Ltd, a company incorporated in England and Wales. S Cox, a director, controls Borshch Holdings Ltd by virtue of his holding of the majority of the voting shares in the company.
9
Average number of employees
During the year the average number of employees was 35 (2024: 45).