Boreflex Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03201075

Boreflex Limited

Filleted Unaudited Financial Statements

31 March 2026

Boreflex Limited

Financial Statements

Year ended 31 March 2026

Contents	Pages

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 8

Boreflex Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Boreflex Limited

Year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Boreflex Limited for the year ended 31 March 2026, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Boreflex Limited, as a body, in accordance with the terms of our engagement letter dated 31 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Boreflex Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boreflex Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Boreflex Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Boreflex Limited. You consider that Boreflex Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Boreflex Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

15 May 2026

Boreflex Limited

Statement of Financial Position

31 March 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	6	213,751	265,351

Current assets

Stocks		36,762	49,295
Debtors	7	217,273	215,728
Cash at bank and in hand		81,702	83,415
		---------	---------
		335,737	348,438

Creditors: amounts falling due within one year	8	127,038	148,775
		---------	---------
Net current assets		208,699	199,663
		---------	---------
Total assets less current liabilities		422,450	465,014

Creditors: amounts falling due after more than one year	9	2,651	21,526

Provisions	19,040	27,455
	---------	---------
Net assets	400,759	416,033
	---------	---------

Capital and reserves

Called up share capital	700	700
Capital redemption reserve	300	300
Profit and loss account	399,759	415,033
	---------	---------
Shareholders funds	400,759	416,033
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Boreflex Limited

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 15 May 2026 , and are signed on behalf of the board by:

Mrs D Fox	Mr R C Fox
Director	Director

Company registration number: 03201075

Boreflex Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 8 & 9 Gateway Court, Gateway Industrial Estate, Parkgate, Rotherham, South Yorkshire, S62 6LH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business in 1997, amortised evenly over its estimated useful life of fifteen years, this has now been fully amortised.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	over 15 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2025: 5 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2025 and 31 March 2026	3,998
	-------
Amortisation
At 1 April 2025 and 31 March 2026	3,998
	-------
Carrying amount
At 31 March 2026	–
	-------
At 31 March 2025	–
	-------

6. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2025	132,721	58,989	203,447	10,169	405,326
Additions	–	–	19,484	999	20,483
Disposals	–	–	( 21,500)	–	( 21,500)
	---------	--------	---------	--------	---------
At 31 March 2026	132,721	58,989	201,431	11,168	404,309
	---------	--------	---------	--------	---------
Depreciation
At 1 April 2025	–	47,736	86,290	5,949	139,975
Charge for the year	–	2,272	50,347	2,444	55,063
Disposals	–	–	( 4,480)	–	( 4,480)
	---------	--------	---------	--------	---------
At 31 March 2026	–	50,008	132,157	8,393	190,558
	---------	--------	---------	--------	---------
Carrying amount
At 31 March 2026	132,721	8,981	69,274	2,775	213,751
	---------	--------	---------	--------	---------
At 31 March 2025	132,721	11,253	117,157	4,220	265,351
	---------	--------	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2026	36,830
	--------
At 31 March 2025	97,458
	--------

7. Debtors

	2026	2025
	£	£
Trade debtors	133,862	122,463
Other debtors	83,411	93,265
	---------	---------
	217,273	215,728
	---------	---------

8. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	2,641	15,703
Trade creditors	53,595	57,911
Corporation tax	29,921	26,388
Social security and other taxes	18,068	18,743
Other creditors	22,813	30,030
	---------	---------
	127,038	148,775
	---------	---------

In relation to the above bank loans and overdrafts, £974 (2025: £5,703) of the total is secured by company assets. Included within other creditors above are hire purchase liabilities amounting to £15,513 (2025: £23,188) which are secured on the subject assets.

9. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	–	2,568
Other creditors	2,651	18,958
	-------	--------
	2,651	21,526
	-------	--------

The above other creditors relate to hire purchase balances which are secured on the subject assets.

10. Directors' advances, credits and guarantees

One of the directors received advances and credits from the company of £38,300 (2025: £40,450) during the year. The loan outstanding at the year end and owing to the company was £37,450 (2025: £42,087). No interest has been charged by the company on the loan account. The account has been repaid in full after the year end. A second director received advances and credits from the company of £38,300 (2025: £40,450) during the year. The loan outstanding at the year end and owing to the company was £37,450 (2025: £42,087). No interest has been charged by the company on the loan account. The account has been repaid in full after the year end.