Boinclo Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10528065

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		24,763		32,302
Investments	5		86,583		86,583

			111,346		118,885
CURRENT ASSETS
Stocks	6	815,352		627,407
Debtors	7	103,330		154,943
Cash at bank and in hand		72,941		71,735

		991,623		854,085
Creditors: Amounts Falling Due Within One Year	8	(208,813 )		(145,509 )

NET CURRENT ASSETS (LIABILITIES)			782,810		708,576

TOTAL ASSETS LESS CURRENT LIABILITIES			894,156		827,461

NET ASSETS			894,156		827,461

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			894,155		827,460

SHAREHOLDERS' FUNDS			894,156		827,461

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Boinclo Ltd.

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Michael Byrne

Director

12/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Boinclo Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10528065 . The registered office is Tyttenhanger House Coursers Road, Colney Heath, St. Albans, AL4 0PG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	33% Straight Line

2.4. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slowmoving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 7)

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Boinclo Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	2,687	19,124	36,077	9,554	67,442
Additions	-	-	2,133	252	2,385

As at 31 December 2024	2,687	19,124	38,210	9,806	69,827

Depreciation
As at 1 January 2024	1,296	8,367	19,005	6,472	35,140
Provided during the period	348	2,689	4,801	2,086	9,924

As at 31 December 2024	1,644	11,056	23,806	8,558	45,064

Net Book Value
As at 31 December 2024	1,043	8,068	14,404	1,248	24,763

As at 1 January 2024	1,391	10,757	17,072	3,082	32,302

5. Investments

	Other
	£
Cost
As at 1 January 2024	86,583

As at 31 December 2024	86,583

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	86,583

As at 1 January 2024	86,583

All investments are carried at fair value determined annually and derived from the current market value of comparable assets. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

6. Stocks

	2024	2023
	£	£
Stock	815,352	627,407

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Boinclo Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	53,232	49,478
Amounts owed by group undertakings	17,061	67,070
Other debtors	23,363	28,721

	93,656	145,269
Due after more than one year
Other debtors	9,674	9,674

	103,330	154,943

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	19,017	35,412
Bank loans and overdrafts	3,776	4,404
Corporation tax	53,952	29,127
Other taxes and social security	-	406
VAT	14,370	22,662
Amex gold	54,283	1
Amex BA	35,260	34,300
Capital on Tap	18,204	11,811
Gift cards balance	9,823	7,386
Pension contribution liability	128	-

	208,813	145,509

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Michael Byrne	28,664	73,896	74,239	-	28,321

The above loan is unsecured, subject to interest at the beneficial interest rate and repayable on demand.

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