Boston Tractors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00447639 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

BOSTON TRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B L Dobbs

Mrs P Dobbs

J A Dobbs

Mrs J M L Dobbs

SECRETARY:

Mrs J M L Dobbs

REGISTERED OFFICE:

Ball Hall

Wargate Way

Gosberton

Spalding

Lincolnshire

PE11 4HE

REGISTERED NUMBER:

00447639 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Tangible assets

4

1,169

654

Investment property

5

1,258,331

1,250,042

1,259,500

1,250,696

CURRENT ASSETS

Debtors

6

21,499

18,839

Cash at bank

263,184

272,321

284,683

291,160

CREDITORS

Amounts falling due within one year

7

76,378

76,421

NET CURRENT ASSETS

208,305

214,739

TOTAL ASSETS LESS CURRENT LIABILITIES

1,467,805

1,465,435

CREDITORS

Amounts falling due after more than one year

8

(5,000

)

(5,000

)

PROVISIONS FOR LIABILITIES

(3,300

)

(2,900

)

NET ASSETS

1,459,505

1,457,535

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Revaluation reserve

172,137

163,848

Retained earnings

1,262,368

1,268,687

SHAREHOLDERS' FUNDS

1,459,505

1,457,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2022 and were signed on its behalf by:

B L Dobbs - Director

1.	STATUTORY INFORMATION

Boston Tractors 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 as modified by the revaluation of certain assets.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover represents rents receivable and expenditure recharged.

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2020

15,260

1,483

13,154

29,897

Additions

-

1,229

-

1,229

Disposals

(13,360

)

(778

)

(13,154

)

(27,292

)

At 30 November 2021

1,900

1,934

-

3,834

DEPRECIATION

At 1 December 2020

15,183

1,159

12,901

29,243

Charge for year

20

337

-

357

Eliminated on disposal

(13,329

)

(705

)

(12,901

)

(26,935

)

At 30 November 2021

1,874

791

-

2,665

NET BOOK VALUE

At 30 November 2021

26

1,143

-

1,169

At 30 November 2020

77

324

253

654

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2020

1,250,042

Revaluations

8,289

At 30 November 2021

1,258,331

NET BOOK VALUE

At 30 November 2021

1,258,331

At 30 November 2020

1,250,042

Cost or valuation at 30 November 2021 is represented by:

£

Valuation in 2021

1,258,331

If investment property had not been revalued it would have been included at the following depreciated historical cost:

30.11.21

30.11.20

£

£

Cost

1,086,194

1,086,194

Investment property was valued on an open market basis on 30 November 2021 by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

15,808

14,276

Other debtors

5,691

4,563

21,499

18,839

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade creditors

482

189

Taxation and social security

3,238

2,236

Other creditors

72,658

73,996

76,378

76,421

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Other creditors

5,000

5,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

5,000

5,000