Registered Number 08764517

BOREALIS IT LIMITED

Micro-entity Accounts

30 November 2025

BOREALIS IT LIMITED Registered Number 08764517

Micro-entity Balance Sheet as at 30 November 2025

Notes 2025 2024
£ £
Called up share capital not paid
100
100
Current Assets
8
7,267
Creditors: amounts falling due within one year
(1,007,323)
(996,582)
Net current assets (liabilities)
(1,007,315)
(989,315)
Total assets less current liabilities
(1,007,215)
(989,215)
Total net assets (liabilities)
(1,007,215)
(989,215)
Capital and reserves
(1,007,215)
(989,215)
  • For the year ending 30 November 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 November 2025

And signed on their behalf by:
Peter Kristoffer Cummings Nielsen, Director

Footnotes:

BOREALIS IT LIMITED Registered Number 08764517

Notes to the Micro-entity Accounts for the period ended 30 November 2025

1Employees
2025 2024
Average number of employees during the period 0 0

2Accounting Policies

Basis of measurement and preparation of accounts
Basis of preparation These financial statements have been prepared in accordance with the provisions of FRS 105, the Financial Reporting Standard applicable to the Micro-entities Regime, and the micro-entity provisions of the Companies Act 2006.

Prior period adjustment The comparative figures at 30 November 2024 have been restated to recognise a loan of £996,582 due to Cummings Holding Limited, the company's parent undertaking, which had not previously been recorded. The loan was advanced to the company on incorporation and subsequently assigned to the parent. The effect is to reduce shareholders' funds at 30 November 2024 from £7,367 to a deficit of £989,215.

Going concern The company has net liabilities of £1,007,215, of which £899,133 is owed to its parent undertaking. The company continues to trade profitably at the operating level, with turnover of £1,269,810 in the period, and repaid £97,449 to its parent during the year. The parent has confirmed that it will not seek repayment of the balance due to it for at least twelve months from the date of approval of these financial statements. On that basis the financial statements have been prepared on a going concern basis.

3Off balance sheet arrangements
The company has not entered into any guarantees or other financial commitments on behalf of any other party.