General Information
Boswell & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 03271328, registration address 67 High Street, Sawston, Cambridge, CB22 3BG.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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 comprises shop takings and amounts invoiced during the year, net of Value Added Tax.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and buildings |
2% SL |
| Plant and machinery etc |
25% RB |
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 48 (2024 : 50).
|
| 3. |
Indebtedness
Included in Creditors are HP liabilities totalling £67,380 secured on the fixed assets to which the liability relates.
|
| 4. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 November 2024 |
106,250 |
|
106,250 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 October 2025 |
106,250 |
|
106,250 |
| Amortisation |
| At 01 November 2024 |
106,250 |
|
106,250 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 October 2025 |
106,250 |
|
106,250 |
| Net book values |
| At 31 October 2025 |
- |
|
- |
| At 31 October 2024 |
- |
|
- |
|
| 5. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 November 2024 |
373,245 |
|
339,673 |
|
712,918 |
| Additions |
- |
|
135,151 |
|
135,151 |
| Disposals |
- |
|
(89,898) |
|
(89,898) |
| At 31 October 2025 |
373,245 |
|
384,926 |
|
758,171 |
| Depreciation |
| At 01 November 2024 |
136,314 |
|
246,284 |
|
382,598 |
| Charge for year |
7,465 |
|
43,378 |
|
50,843 |
| On disposals |
- |
|
(51,086) |
|
(51,086) |
| At 31 October 2025 |
143,779 |
|
238,576 |
|
382,355 |
| Net book values |
| Closing balance as at 31 October 2025 |
229,466 |
|
146,350 |
|
375,816 |
| Opening balance as at 01 November 2024 |
236,931 |
|
93,389 |
|
330,320 |
|
| 6. |
Share Capital
Authorised
500 Ordinary shares of £1.00 each
100 Ordinary B shares of £1.00 each
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
500
Ordinary shares of £1.00 each |
500 |
|
500 |
|
100
Ordinary B shares of £1.00 each |
100 |
|
100 |
|
600 |
|
600 |
|
| 7. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Philip Boswell Limited | (20,000) | | (20,000) | | (228,447) | | (207,780) |
The company is controlled by the same party as Philip Boswell Limited (PBL). During the year the
company occupied premises owned by PBL for which the company was charged £20,000 for rent and
property maintenance (2024: £20,000).
|
2
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