ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

BOOMALERT LIMITED - Company Information

Print Friendly Version

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-312020-04-011true1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activitytrue 08978053 2020-04-01 2021-03-31 08978053 2019-04-01 2020-03-31 08978053 2021-03-31 08978053 2020-03-31 08978053 c:Director1 2020-04-01 2021-03-31 08978053 d:CurrentFinancialInstruments 2021-03-31 08978053 d:CurrentFinancialInstruments 2020-03-31 08978053 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 08978053 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 08978053 d:ShareCapital 2021-03-31 08978053 d:ShareCapital 2020-03-31 08978053 d:RetainedEarningsAccumulatedLosses 2021-03-31 08978053 d:RetainedEarningsAccumulatedLosses 2020-03-31 08978053 c:FRS102 2020-04-01 2021-03-31 08978053 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 08978053 c:FullAccounts 2020-04-01 2021-03-31 08978053 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Registered number: 08978053









BOOMALERT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021
 
BOOMALERT LIMITED
REGISTERED NUMBER: 08978053

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2021

2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
649,826
441,109

Cash at bank and in hand
  
293,263
109,985

  
943,089
551,094

Creditors: amounts falling due within one year
 5 
(427,228)
(269,895)

Net current assets
  
 
 
515,861
 
 
281,199

Total assets less current liabilities
  
515,861
281,199

  

Net assets
  
515,861
281,199


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
515,859
281,197

  
515,861
281,199


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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2021.




P L Tanner
Director
Page 1
 
BOOMALERT LIMITED
REGISTERED NUMBER: 08978053
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2021


The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
BOOMALERT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

Boomalert Limited is a private company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS. The address of its principal place of business is Centa House, 61 Birkenhead Street, London, WC1H 8BB.

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

Going concern

Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue with some level of activity from a minimal to full levels. Although the potential effect of the coronavirus can be modelled, it is very difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of doubt existing that cannot be quantified.
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the proviso that a material uncertainty exists over the company’s future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises revenue recognised by the company in respect of IT and telecommunication services supplied during the year.
Revenue is recognised at the point at which the company supplies the service. 
Revenue from contracts for the provision of messaging services are recognised based on when the messages have been used. Income is deferred if the messages supplied from the contract has not been used. 

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. 

Page 3
 
BOOMALERT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like loans to related parties.
Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.
 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).


4.


Debtors

2021
2020
£
£

Amounts owed by group undertakings
649,826
441,109


Page 4
 
BOOMALERT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
-
18

Other taxation and social security
86,228
59,877

Deferred income
341,000
210,000

427,228
269,895


 
Page 5