Company registration number 10483032 (England and Wales)
Boiler Central Ltd
Unaudited
financial statements
for the year ended 31 May 2023
PAGES FOR FILING WITH REGISTRAR
Boiler Central Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Boiler Central Ltd
Statement Of Financial Position
as at 31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
816,218
604,980
Investments
4
2
2
816,220
604,982
Current assets
Debtors
656,026
661,593
Cash at bank and in hand
23,868
291,629
679,894
953,222
Creditors: amounts falling due within one year
(1,442,373)
(1,533,920)
Net current liabilities
(762,479)
(580,698)
Net assets
53,741
24,284
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
43,741
14,284
Total equity
53,741
24,284
Boiler Central Ltd
Statement Of Financial Position (continued)
as at 31 May 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 February 2024 and are signed on its behalf by:
J Elston
Director
Company Registration No. 10483032
Boiler Central Ltd
Notes to the Financial Statements
for the year ended 31 May 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised upon the provision of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Assets in construction
Nil
Computers
20% reducing balance
Motor vehicles
20% reducing balance
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Boiler Central Ltd
Notes to the Financial Statements (continued)
for the year ended 31 May 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
33
40
3
Tangible fixed assets
Total
£
Cost
At 1 June 2022
637,183
Additions
245,743
At 31 May 2023
882,926
Depreciation and impairment
At 1 June 2022
32,203
Depreciation charged in the year
34,505
At 31 May 2023
66,708
Carrying amount
At 31 May 2023
816,218
At 31 May 2022
604,980
4
Fixed asset investments
2023
2022
£
£
Investment in subsidiary
2
2
5
Company information
Boiler Central Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Admiral House, 100 Thornes Lane, Wakefield, West Yorkshire, WF2 7QX.