BOY LIMITED

BOY LIMITED

BOY LIMITED - Company Information

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BOY LIMITED

Company Registration Number:
05276927 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2019

Period of accounts

Start date: 01 December 2018

End date: 30 November 2019

BOY LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2019

Balance sheet
Notes

BOY LIMITED

Balance sheet

As at 30 November 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 4,398 14,802
Total fixed assets: 4,398 14,802
Current assets
Stocks: 299,290 451,901
Debtors:   348,965 263,826
Cash at bank and in hand: 233,514 86,684
Total current assets: 881,769 802,411
Creditors: amounts falling due within one year:   (588,656) (717,067)
Net current assets (liabilities): 293,113 85,344
Total assets less current liabilities: 297,511 100,146
Provision for liabilities: (413) (952)
Total net assets (liabilities): 297,098 99,194
Capital and reserves
Called up share capital: 55,555 55,555
Share premium account: 4,445 4,445
Profit and loss account: 237,098 39,194
Shareholders funds: 297,098 99,194

The notes form part of these financial statements

BOY LIMITED

Balance sheet statements

For the year ending 30 November 2019 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 August 2020
and signed on behalf of the board by:

Name: R Wilson
Status: Director

The notes form part of these financial statements

BOY LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents amounts charged during the year, exclusive of Value Added Tax, in respect of goods and services provided by the company.

Tangible fixed assets and depreciation policy

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:Leasehold property -20% straight linePlant and machinery -25% straight lineMotor vehicles -25% straight lineComputer equipment -33% straight line

Valuation and information policy

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.

Other accounting policies

Deferred tax assets are recognised to the extent that the directors consider the amount to be recoverable in the foreseeable future.Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.The company pays contributions to certain employees personal pension schemes under a group stakeholder arrangement. Consequently, the annual instalments charged to the profit and loss account are fixed under the terms of the scheme. The company has no potential liability other than for the payment of those instalments.

BOY LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2019

2. Employees

2019 2018
Average number of employees during the period 11 10

BOY LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2019

3. Tangible Assets

Total
Cost £
At 01 December 2018 255,717
Additions 1,545
Disposals (17,825)
At 30 November 2019 239,437
Depreciation
At 01 December 2018 240,915
Charge for year 6,007
On disposals (11,883)
At 30 November 2019 235,039
Net book value
At 30 November 2019 4,398
At 30 November 2018 14,802

BOY LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2019

4. Financial commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:Not later than 1 year £13,365 (2018: £56,577)Later than 1 year and not later then 5 years £- (2018: £13,365)

BOY LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2019

5. Related party transactions

The immediate and ultimate parent company is Hi-Class Machinery Group Limited, a company registered in England and Wales.Dividends paid to shareholders during the year are disclosed in the statement of income and retained earnings on page 4.