Company No: 02390228 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	192,421		219,054
		192,421		219,054
Current assets
Stocks		254,341		314,221
Debtors	4	709,765		291,202
Cash at bank and in hand		467,970		592,222
		1,432,076		1,197,645
Creditors: amounts falling due within one year	5	( 395,139)		( 377,421)
Net current assets		1,036,937		820,224
Total assets less current liabilities		1,229,358		1,039,278
Provision for liabilities		( 9,597)		( 13,680)
Net assets		1,219,761		1,025,598
Capital and reserves
Called-up share capital	6	930		930
Capital redemption reserve		70		70
Profit and loss account		1,218,761		1,024,598
Total shareholder's funds		1,219,761		1,025,598

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Boiswood Ltd (registered number: 02390228) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

J D Kent Director

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

Boiswood 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 Unit A1 Spinnaker House, Hempsted Lane, Gloucester, GL2 5FD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group. The subsidiary company was disposed of in the prior year.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position 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 current 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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 years straight line
Computer equipment	4 years straight line

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		9

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	121,800		104,705		3,510		20,197		250,212
Additions	0		0		0		6,886		6,886
At 31 March 2025	121,800		104,705		3,510		27,083		257,098
Accumulated depreciation
At 01 April 2024	7,308		9,053		898		13,899		31,158
Charge for the financial year	2,436		26,152		874		4,057		33,519
At 31 March 2025	9,744		35,205		1,772		17,956		64,677
Net book value
At 31 March 2025	112,056		69,500		1,738		9,127		192,421
At 31 March 2024	114,492		95,652		2,612		6,298		219,054

4. Debtors

	2025		2024
	£		£
Trade debtors	341,028		264,223
Amounts owed by Parent undertakings	352,036		0
Amounts owed by related parties	0		11,050
Amounts owed by directors	7,859		4,791
Prepayments	8,842		11,138
	709,765		291,202

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	201,072		243,146
Accruals	25,521		12,320
Taxation and social security	168,546		121,955
	395,139		377,421

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,674 C Ordinary shares of £ 0.50 each (2024: nil shares)	837		0
186 D Ordinary shares of £ 0.50 each (2024: nil shares)	93		0
Nil Ordinary shares (2024: 930 shares of £ 1.00 each)	0		930
	930		930

7. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating lease	24,305		11,451

8. Related party transactions

Transactions with the entity's directors

At the balance sheet date, the directors have an amount due to the company of £7,859 (2024: £4,791). No interest has been charged on this loan, and there is no fixed date of repayment. During the year, no dividends were declared to the directors (2024: £121,610)

Other related party transactions

During the year, this company became a wholly owned subsidiary. At the balance sheet date, there is an amount due from the parent company of £379,999 (2024: £Nil). No interest has been charged on this loan, and there is no fixed date of repayment.