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Company No: 13675189 (England and Wales)

WILLIAM JAMES BOUGHEY LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

WILLIAM JAMES BOUGHEY LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

WILLIAM JAMES BOUGHEY LTD

BALANCE SHEET

As at 31 October 2024
WILLIAM JAMES BOUGHEY LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 6,324 8,432
Tangible assets 4 162,912 170,322
169,236 178,754
Current assets
Debtors 5 2,083 4,991
Cash at bank and in hand 7,771 9,646
9,854 14,637
Creditors: amounts falling due within one year 6 ( 159,382) ( 192,673)
Net current liabilities (149,528) (178,036)
Total assets less current liabilities 19,708 718
Net assets 19,708 718
Capital and reserves
Called-up share capital 1 1
Profit and loss account 19,707 717
Total shareholder's funds 19,708 718

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

Director's responsibilities:

The financial statements of William James Boughey Ltd (registered number: 13675189) were approved and authorised for issue by the Director on 04 August 2025. They were signed on its behalf by:

W J Boughey
Director
WILLIAM JAMES BOUGHEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
WILLIAM JAMES BOUGHEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

William James Boughey Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of William James Boughey Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover represents rental income receivable relating to the period and is recognised on an accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 November 2023 10,540 10,540
At 31 October 2024 10,540 10,540
Accumulated amortisation
At 01 November 2023 2,108 2,108
Charge for the financial year 2,108 2,108
At 31 October 2024 4,216 4,216
Net book value
At 31 October 2024 6,324 6,324
At 31 October 2023 8,432 8,432

4. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 November 2023 181,867 1,000 182,867
At 31 October 2024 181,867 1,000 182,867
Accumulated depreciation
At 01 November 2023 12,221 324 12,545
Charge for the financial year 7,275 135 7,410
At 31 October 2024 19,496 459 19,955
Net book value
At 31 October 2024 162,371 541 162,912
At 31 October 2023 169,646 676 170,322

5. Debtors

2024 2023
£ £
Trade debtors 1,257 4,529
Deferred tax asset 826 462
2,083 4,991

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 138,048 176,160
Accruals and deferred income 11,042 13,053
Corporation tax 4,819 561
Other taxation and social security 5,473 2,899
159,382 192,673

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts due to W J Boughey 138,048 176,160

The amount owed is interest free and has no set date for repayment.