| Boundary House Business Centre Limited |
| Registered number: |
04700443 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
11,342 |
|
|
19,651 |
| Tangible assets |
4 |
|
|
6,072,219 |
|
|
6,078,497 |
| Investments |
5 |
|
|
9,701 |
|
|
9,701 |
|
|
|
|
6,093,262 |
|
|
6,107,849 |
|
| Current assets |
| Debtors |
6 |
|
2,958,246 |
|
|
2,609,401 |
| Cash at bank and in hand |
|
|
161,617 |
|
|
116,123 |
|
|
|
3,119,863 |
|
|
2,725,524 |
|
| Creditors: amounts falling due within one year |
7 |
|
(2,876,796) |
|
|
(1,788,223) |
|
| Net current assets |
|
|
|
243,067 |
|
|
937,301 |
|
| Total assets less current liabilities |
|
|
|
6,336,329 |
|
|
7,045,150 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
- |
|
|
(940,661) |
|
| Provisions for liabilities |
|
|
|
(928,047) |
|
|
(705,316) |
|
|
| Net assets |
|
|
|
5,408,282 |
|
|
5,399,173 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Non Distributable Reserve |
10 |
|
|
2,784,142 |
|
|
3,006,873 |
| Profit and loss account |
|
|
|
2,624,040 |
|
|
2,392,200 |
|
| Shareholders' funds |
|
|
|
5,408,282 |
|
|
5,399,173 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Naveen Bhandari |
Suresh Kumar Aggarwal |
| Director |
Director |
| Approved by the board on 19 December 2025 |
Approved by the board on 19 December 2025 |
|
| Boundary House Business Centre Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. 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 evenly over its expected useful life, as follows: |
|
|
Land and building |
at fair value |
|
Plant and machinery |
25% straight line |
|
Furniture and fittings |
25% straight line |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Interest Cap costs, Loan arrangement fees and Lease Premium: |
|
|
Cost |
|
At 1 April 2024 |
98,916 |
|
At 31 March 2025 |
98,916 |
|
|
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2024 |
79,265 |
|
Provided during the year |
8,309 |
|
At 31 March 2025 |
87,574 |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
11,342 |
|
At 31 March 2024 |
19,651 |
|
|
|
|
|
|
|
|
|
|
|
|
Lease Premium of £25,000 is amortised over the lease term of 10 years.
Interest Cap cost of £22,826 arose on 18 February 2020 is being written off over 7 years.
Loan Arrangement fees of £12,740 arose on 19 January 2021 is being written off over 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Furniture & Fittings |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
6,005,725 |
|
300,196 |
|
511,653 |
|
6,817,574 |
|
Additions |
12,608 |
|
216 |
|
11,142 |
|
23,966 |
|
At 31 March 2025 |
6,018,333 |
|
300,412 |
|
522,795 |
|
6,841,540 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
- |
|
299,014 |
|
440,063 |
|
739,077 |
|
Charge for the year |
- |
|
572 |
|
29,672 |
|
30,244 |
|
At 31 March 2025 |
- |
|
299,586 |
|
469,735 |
|
769,321 |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
6,018,333 |
|
826 |
|
53,060 |
|
6,072,219 |
|
At 31 March 2024 |
6,005,725 |
|
1,182 |
|
71,590 |
|
6,078,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
1,954,145 |
|
1,954,145 |
|
|
|
|
|
|
|
|
|
1,954,145 |
|
1,954,145 |
|
|
The directors have revalued the freehold property at the Balance Sheet date based on the purchase price, acquisition costs and the enhancement costs to date. There was no change in the market value of the property since the prior year and the movement is due to further costs incurred in the year. |
| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 April 2024 |
9,701 |
|
|
At 31 March 2025 |
9,701 |
|
|
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 April 2024 |
9,701 |
|
At 31 March 2025 |
9,701 |
|
|
|
|
|
|
|
|
|
|
|
|
Company |
Country of registration |
Shares held |
|
|
|
or incorporation |
Class |
% |
|
|
Boundary House Business Centre |
|
England & Wales |
Ordinary |
100 |
|
Nominee (No.1) Limited |
|
|
Boundary House Business Centre |
|
England & Wales |
Ordinary |
100 |
|
Nominee (No.2) Limited |
|
|
Boundary House Business Centre |
|
England & Wales |
Ordinary |
100 |
|
Nominee (No.3) Limited |
|
|
360 Business Centres Limited |
|
England & Wales |
Ordinary |
100 |
|
|
Number Six Coffee Limited |
England & Wales |
Ordinary |
100 |
|
|
|
| 6 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
189,026 |
|
93,128 |
|
Other debtors |
2,769,220 |
|
2,516,273 |
|
|
|
|
|
|
|
|
2,958,246 |
|
2,609,401 |
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
940,661 |
|
83,333 |
|
Trade creditors |
29,249 |
|
22,733 |
|
Corporation tax |
36,259 |
|
68,527 |
|
Other taxes and social security costs |
26,187 |
|
27,121 |
|
Other creditors |
1,844,440 |
|
1,586,509 |
|
|
|
|
|
|
|
|
2,876,796 |
|
1,788,223 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
- |
|
940,661 |
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
940,661 |
|
1,023,994 |
|
|
|
|
|
|
|
|
|
|
|
|
The bank has a legal charge over the company. The charge contains fixed charge and negative pledge. |
|
|
| 10 |
Non Distributable Reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
3,006,873 |
|
3,006,873 |
|
Deferred taxation adjustment for prior years |
(222,731) |
|
- |
|
|
At 31 March 2025 |
2,784,142 |
|
3,006,873 |
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Contingent liabilities |
|
The company and Chiswick Business Centres Ltd (CBCL) jointly act as guarantors for the lease between Richmond Business Centres Ltd (RBC) and Essex County Council. On 23 June 2023 RBC entered into a revisionary 10 years lease from 18 November 2024 to 17 November 2034. At the year end there were no liabilities outstanding in relation to the lease. |
|
| 12 |
Transaction with the directors |
|
|
At the year end the directors owed the company £250,000 [2024 - £250,000].The directors withdrew salary amounting to £12,000 [2024 - £12,000]. |
| 13 |
Controlling party |
|
The company is controlled jointly by Mr and Mrs Bhandari by virtue of their joint 100% shareholding in the issued share capital of the company. |
|
| 14 |
Other information |
|
|
Boundary House Business Centre Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Boundary House |
|
Boston Road |
|
Hanwell |
|
London |
|
W7 2QE |