Boxer Facilities Management Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07166348 (England and Wales)

Financial Statements for the Year Ended 31st July 2022

for

Boxer Facilities Management Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T L Broadway

J G Broadway

REGISTERED OFFICE:

Boxer House Saxon Business Park, Hanbury

Stoke Prior

Bromsgrove

Worcestershire

B60 4AD

REGISTERED NUMBER:

07166348 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Intangible assets

4

632

943

Tangible assets

5

99,832

122,680

100,464

123,623

CURRENT ASSETS

Stocks

16,000

16,000

Debtors

1,684,085

1,258,899

Cash at bank and in hand

89,959

267,537

1,790,044

1,542,436

CREDITORS

Amounts falling due within one year

1,239,127

1,136,434

NET CURRENT ASSETS

550,917

406,002

TOTAL ASSETS LESS CURRENT LIABILITIES

651,381

529,625

CREDITORS

Amounts falling due after more than one year

(573,764

)

(278,765

)

PROVISIONS FOR LIABILITIES

(17,769

)

(22,097

)

NET ASSETS

59,848

228,763

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

59,648

228,563

59,848

228,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th April 2023 and were signed on its behalf by:

J G Broadway - Director

1.	STATUTORY INFORMATION

Boxer Facilities Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

GOVERNMENT GRANTS

Government grants are recognised on the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable.

A grant that imposes specified future performance-related conditions is recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 620 (2021 - 714 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2021

and 31st July 2022

2,100

AMORTISATION

At 1st August 2021

1,157

Amortisation for year

311

At 31st July 2022

1,468

NET BOOK VALUE

At 31st July 2022

632

At 31st July 2021

943

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2021

216,075

Additions

18,708

Disposals

(13,249

)

At 31st July 2022

221,534

DEPRECIATION

At 1st August 2021

93,395

Charge for year

29,411

Eliminated on disposal

(1,104

)

At 31st July 2022

121,702

NET BOOK VALUE

At 31st July 2022

99,832

At 31st July 2021

122,680

6.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

54,871

93,998

Secured term loan

472,067

-

526,938

93,998

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2022 and 31st July 2021:

2022

2021

£

£

J G Broadway

Balance outstanding at start of year

43

683

Amounts advanced

271,170

331,619

Amounts repaid

(438,529

)

(332,259

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(167,316

)

43

T L Broadway

Balance outstanding at start of year

12,500

12,500

Amounts repaid

(12,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

12,500