ACCOUNTS - Final Accounts

MICHAEL BOSCOE LIMITED - Company Information

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Registered number: 09946999

MICHAEL BOSCOE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

MICHAEL BOSCOE LIMITED

COMPANY INFORMATION

Director	M. Boscoe


Registered number	09946999


Registered office	1st Floor Sackville House
	143-149 Fenchurch Street
	London
	EC3M 6BN

MICHAEL BOSCOE LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 5

MICHAEL BOSCOE LIMITED

REGISTERED NUMBER: 09946999

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£


CURRENT ASSETS
Debtors	5	5,773		7,700
Bank and cash balances		1,178,597		907,061
		1,184,370		914,761
Creditors: amounts falling due within one year	6	(62,904)		(26,955)
NET CURRENT ASSETS			1,121,466		887,806

NET ASSETS			1,121,466		887,806

CAPITAL AND RESERVES
Allotted, called up and fully paid share capital	1	1
Profit and loss account	1,121,465	887,805
EQUITY SHAREHOLDER'S FUNDS	1,121,466	887,806

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Director's Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
3 December 2022.

M. Boscoe

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

MICHAEL BOSCOE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	GENERAL INFORMATION

Michael Boscoe Limited (registered number: 09946999), having its registered office and trading address at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company registered in England and Wales.

2.ACCOUNTING POLICIES

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Statement of Cash Flows

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 2

MICHAEL BOSCOE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

2.8

Creditors

Short-term creditors are measured at the transaction price.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.10

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

EMPLOYEES

The average monthly number of employees, including the director, during the year was 2 (2021 - 2).

Page 3

MICHAEL BOSCOE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

4.	TANGIBLE FIXED ASSETS

		Office equipment
		£
	COST
	At 1 April 2020 and 31 March 2021	958
	DEPRECIATION
	At 1 April 2021	958
	At 31 March 2022	958
	NET BOOK VALUE
	At 31 March 2022	-
	At 31 March 2021	-

DEBTORS

					2022	2021
					£	£

Due within one year
Trade debtors	-	3,926
Other debtors	5,463	3,473
Prepayments and accrued income	310	301
	5,773	7,700

6.	CREDITORS: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	55,274	20,625
Other taxation and social security	498	320
Other creditors	2,585	2,415
Accruals and deferred income	4,547	3,595
	62,904	26,955

Page 4

MICHAEL BOSCOE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

7.	RELATED PARTY TRANSACTIONS
	Included within other creditors are amounts due to key management personnel of the Company of £2,585 (2021: £2,415).

Page 5