Boston Van Hire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03667448 (England and Wales)

BOSTON VAN HIRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

V R Dent

Mrs R M Dent

SECRETARY:

A T A Halliwell

REGISTERED OFFICE:

115 High Street

Boston

Lincolnshire

PE21 8TG

REGISTERED NUMBER:

03667448 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Tangible assets

4

8,493

9,992

CURRENT ASSETS

Stocks

5

380,004

387,667

Debtors

6

56,772

84,365

Cash at bank

40,713

28,988

477,489

501,020

CREDITORS

Amounts falling due within one year

7

138,317

213,533

NET CURRENT ASSETS

339,172

287,487

TOTAL ASSETS LESS CURRENT LIABILITIES

347,665

297,479

CREDITORS

Amounts falling due after more than one year

8

(9,977

)

(8,280

)

PROVISIONS FOR LIABILITIES

(1,390

)

(1,625

)

NET ASSETS

336,298

287,574

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

336,198

287,474

SHAREHOLDERS' FUNDS

336,298

287,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

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 28 January 2021 and were signed on its behalf by:

V R Dent - Director

1.	STATUTORY INFORMATION

Boston Van Hire Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales and services, excluding value added tax, and is recognised at the time the invoiced is issued.

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 equipment

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the statement of financial position and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future repayments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

equipment

equipment

Totals

£

£

£

COST

At 1 May 2019

and 30 April 2020

31,935

3,022

34,957

DEPRECIATION

At 1 May 2019

22,780

2,185

24,965

Charge for year

1,373

126

1,499

At 30 April 2020

24,153

2,311

26,464

NET BOOK VALUE

At 30 April 2020

7,782

711

8,493

At 30 April 2019

9,155

837

9,992

5.

STOCKS

2020

2019

£

£

Stocks

380,004

387,667

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

52,572

79,623

Other debtors

4,200

4,742

56,772

84,365

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

11,793

10,016

Taxation and social security

58,875

40,216

Other creditors

67,649

163,301

138,317

213,533

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

9,977

8,280

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

21,770

18,296

The bank overdraft is secured by a charge in favour of HSBC Bank plc on the company's tangible fixed assets and book debts.

The hire purchase liability is secured upon those assets to which the liability relates.