| Director |
| Registered office | |
| Registered number | 00916700 |
| Accountant | HMFUK Ltd. |
| Notes |
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The financial statements were approved and authorised for issue by the director on
Demoulas, Arthur Stephen
Director |
Company registration number 00916700
Boss & Co.Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are presented in sterling and this is the functional currency of the company.
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities".
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable.
For any new contracts entered into on or after 1 January 2026, the company considers whether a contract is, or contains a lease. A lease is defined as 'a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration'. To apply this definition the company assesses whether the contract meets three key evaluations which are whether:
The company has elected to account for short-term leases and leases of low-value assets using the practical expedients. Instead of recognising a right-of-use asset and lease liability, the payments in relation to these are recognised as an expense in profit or loss on a straight-line basis over the lease term.
Current tax is recognised in profit or loss, except for taxes related to items which are recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
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Investments in subsidiaries are measured at cost.
The company holds 100% of the ordinary share capital of Phillipson & Co. Ltd, a machining company.
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
When inventories are sold, the carrying amount is recognised as an expense in the period in which the related revenue is recognised.
For long-term contracts where the company provides services or bespoke goods, work in progress is recognised as a contract asset. These are measured by reference to the stage of completion of the contract activity at the reporting date, based on the progress made towards the complete satisfaction of the performance obligations.
The financial statements contain information about Boss & Co.Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
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Other debtors includes amounts owed by group undertakings i.e. Philipson & Co. Limited £473,970 (no change since YE 2024) and other debtors relating to: Accounts Receivables, Prepayments and Accrued income.
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