Bossman's Retail LTD - Accounts

Bossman's Retail LTD - Accounts

BOSSMAN'S RETAIL LTD - Company Information

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Registered Number: 11258267


 

 

 

BOSSMAN'S RETAIL LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

Bossman's Retail LTD
Contents Page
For the year ended 31 March 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Bossman's Retail LTD for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bossman's Retail LTD for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Bossman's Retail LTD , as a body, in accordance with the terms of our engagement letter dated 14 December 2023. Our work has been undertaken solely to prepare for your approval the accounts of Bossman's Retail LTD and state those matters that we have agreed to state to the Board of Directors of Bossman's Retail LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bossman's Retail LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bossman's Retail LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Bossman's Retail LTD. You consider that Bossman's Retail LTD is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Bossman's Retail LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


T & K Accountancy LLP
69 Banstead Road
Carshalton
SM5 3NP
14 December 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Intangible fixed assets 4 9,760    14,640 
Tangible fixed assets 5 10,864    14,486 
20,624    29,126 
Current assets      
Stocks 45,335    35,506 
Debtors: amounts falling due after one year 726    726 
Cash at bank and in hand 19,748    17,893 
65,809    54,125 
Creditors: amount falling due within one year (39,945)   (22,621)
Net current assets 25,864    31,504 
 
Total assets less current liabilities 46,488    60,630 
Creditors: amount falling due after more than one year (43,768)   (59,407)
Net assets 2,720    1,223 
 

Capital and reserves 		     
Called up share capital 6 250    250 
Profit and loss account 2,470    973 
Shareholder's funds 2,720    1,223 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 14 December 2023 and were signed by:


-------------------------------
Jeyanithan SATHANANTHAN
Director
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General Information
Bossman's Retail LTD is a private company, limited by shares, registered in , registration number 11258267, registration address 54 FOLLY LANE, HEREFORD ENGLAND, HR1 1LX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2023
£		   2022
£
Administrative Expenses
Directors Salaries 18,667    25,000 
18,667    25,000 

3.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 24,400    24,400 
Additions -    - 
Disposals -    - 
At 31 March 2023 24,400    24,400 
Amortisation
At 01 April 2022 9,760    9,760 
Charge for year 4,880    4,880 
On disposals -    - 
At 31 March 2023 14,640    14,640 
Net book values
At 31 March 2023 9,760    9,760 
At 31 March 2022 14,640    14,640 


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Motor Vehicles   Total
  £   £   £   £
At 01 April 2022 25,151    18,191    4,842    48,184 
Additions -    -    -    - 
Disposals -    -    (4,842)   (4,842)
At 31 March 2023 25,151    18,191    -    43,342 
Depreciation
At 01 April 2022 16,511    12,345    2,799    31,655 
Charge for year 2,160    1,462    171    3,793 
On disposals -    -    (2,970)   (2,970)
At 31 March 2023 18,671    13,807    -    32,478 
Net book values
Closing balance as at 31 March 2023 6,480    4,384    -    10,864 
Opening balance as at 01 April 2022 8,640    5,846    -    14,486 


6.

Share Capital

Authorised
250 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£		   2022
£
250 Class A shares of £1.00 each 250    250 
250    250 

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