REGISTERED NUMBER: 14212667 (England and Wales)

BOULEBAR UK LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

27 SEPTEMBER 2023 TO 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mr A J Feakes

Mr H Kruse

Mr F Rydesjo

REGISTERED OFFICE:

59 Gerda Road

London

SE9 3SW

REGISTERED NUMBER:

14212667 (England and Wales)

AUDITORS:

GMP Audit Limited, Statutory Auditor

20 Eversley Road

Bexhill on Sea

East Sussex

TN40 1HE

FIXED ASSETS

Intangible assets

4

21,145

12,712

Tangible assets

5

760,038

232,025

781,183

244,737

CURRENT ASSETS

Stocks

51,948

6,992

Debtors

6

101,768

13,453

Cash at bank

19,225

-

172,941

20,445

CREDITORS

Amounts falling due within one year

7

457,272

197,504

NET CURRENT LIABILITIES

(284,331

)

(177,059

)

TOTAL ASSETS LESS CURRENT LIABILITIES

496,852

67,678

CREDITORS

Amounts falling due after more than one year

8

131,800

-

NET ASSETS

365,052

67,678

CAPITAL AND RESERVES

Called up share capital

10

7

2

Share premium

494,974

69,993

Retained earnings

(129,929

)

(2,317

)

SHAREHOLDERS' FUNDS

365,052

67,678

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:

Mr A J Feakes - Director

1.	STATUTORY INFORMATION

Boulebar UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

These financial statements have been prepared for the period of 27 September 2023 - 31 December 2024, the accounting period of the company was adjusted following the investment from the group company. The comparative figures are for the period of 4 July 2022 - 26 September 2023 and are therefore not entirely comparable.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

These accounts have been prepared on a going concern basis, based on the continued support from the group.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised at the time that the service is provided to the customer. Any amounts received in advance of the service being provided, are recognised as deferred income.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark Costs are being amortised evenly over their estimated useful life of ten years.

Website Costs is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Fixtures and fittings

-

25% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the period 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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Trademark

Website

Costs

Costs

Totals

£

£

£

COST

At 27 September 2023

1,382

11,629

13,011

Additions

11,031

-

11,031

At 31 December 2024

12,413

11,629

24,042

AMORTISATION

At 27 September 2023

43

256

299

Amortisation for period

1,145

1,453

2,598

At 31 December 2024

1,188

1,709

2,897

NET BOOK VALUE

At 31 December 2024

11,225

9,920

21,145

At 26 September 2023

1,339

11,373

12,712

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 27 September 2023

247,877

28,548

276,425

Additions

546,640

155,605

702,245

At 31 December 2024

794,517

184,153

978,670

DEPRECIATION

At 27 September 2023

42,467

1,933

44,400

Charge for period

151,894

22,338

174,232

At 31 December 2024

194,361

24,271

218,632

NET BOOK VALUE

At 31 December 2024

600,156

159,882

760,038

At 26 September 2023

205,410

26,615

232,025

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

18,688

-

Other debtors

83,080

13,453

101,768

13,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

39,316

Trade creditors

220,787

50,650

Taxation and social security

-

5,274

Other creditors

236,485

102,264

457,272

197,504

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

131,800

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

172,825

111,000

Between one and five years

356,250

49,600

In more than five years

427,500

-

956,575

160,600

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

666,831

Ordinary

0.00001

7

2

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

The accounting policy set out in note 2 of the financial statements states that leasehold improvements are depreciated over the term of the lease. The lease on one of the sites was extended after the year-end, and leasehold improvements have been depreciated over the term of the extended lease. On the basis that the remaining lease term at the balance sheet date was significantly shorter, the depreciation should have taken into account the lease term at the year-end. Had the leasehold improvements been depreciated on this basis, the charge for the period ended 31 December 2024 would have been £112,394 higher than is reported in these accounts, and the net book value at the balance sheet date would have been £112,394 lower.

In addition, a new site was opened during the year, and included as part of the capitalised leasehold improvement costs are staff costs totalling £77,194. In our opinion these costs were not capital, and should have been expensed in the period. Had this been expensed, then after the effect of the depreciation charge, the net effect would have been an additional expense in the year of £74,365, and a reduced net book value at the balance sheet date of £74,365.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Richard Appleyard FCA (Senior Statutory Auditor)

for and on behalf of GMP Audit Limited, Statutory Auditor

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Boulebar Group AB.