Boi Holdings Limited Filleted accounts for Companies House (small and micro)

BOI HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10161377

Boi Holdings Limited

Filleted Unaudited Financial Statements

31 July 2018

Boi Holdings Limited

Statement of Financial Position

31 July 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	5		13,928		15,892

Current assets

Stocks		159,250	85,626
Debtors	6	92,632	284,510
Cash at bank and in hand		20,000	2,767
		---------	---------
		271,882	372,903

Creditors: amounts falling due within one year	7	382,418		494,720
		---------		---------
Net current liabilities			110,536		121,817
			---------		---------
Total assets less current liabilities			( 96,608)		( 105,925)

Provisions	2,646	3,020
	--------	---------
Net liabilities	( 99,254)	( 108,945)
	--------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 99,354)	( 109,045)
	--------	---------
Shareholders deficit	( 99,254)	( 108,945)
	--------	---------

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 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 comprehensive income has not been delivered.

For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Boi Holdings Limited

Statement of Financial Position (continued)

31 July 2018

These financial statements were approved by the board of directors and authorised for issue on 26 April 2019 , and are signed on behalf of the board by:

Mr A Singh Grewal
Director

Company registration number: 10161377

Boi Holdings Limited

Notes to the Financial Statements

Year ended 31 July 2018

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 1-6 Euro Centre, 116-118 Bury New Road, Manchester, M8 8EB, England.

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.

Income tax

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.

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:

Fixtures and fittings	-	15% reducing balance
Equipment	-	15% reducing balance

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.

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.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2017: 5 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 August 2017	12,151	6,546	18,697
Additions	–	430	430
	--------	-------	--------
At 31 July 2018	12,151	6,976	19,127
	--------	-------	--------
Depreciation
At 1 August 2017	1,823	982	2,805
Charge for the year	1,549	845	2,394
	--------	-------	--------
At 31 July 2018	3,372	1,827	5,199
	--------	-------	--------
Carrying amount
At 31 July 2018	8,779	5,149	13,928
	--------	-------	--------
At 31 July 2017	10,328	5,564	15,892
	--------	-------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	78,400	82,862
Other debtors	14,232	201,648
	--------	---------
	92,632	284,510
	--------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	380,168	489,344
Social security and other taxes	–	3,006
Other creditors	2,250	2,370
	---------	---------
	382,418	494,720
	---------	---------