Registered number
04721468
Boyns Information Systems Ltd
Unaudited Filleted Accounts
31 March 2020
Boyns Information Systems Ltd
Registered number: 04721468
Balance Sheet
as at 31 March 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 4 212,187 233,948
Investments 5 2,200 2,200
214,387 236,148
Current assets
Stocks 4,364 3,252
Debtors 6 20,973 23,108
Cash at bank and in hand 129,951 73,194
155,288 99,554
Creditors: amounts falling due within one year 7 (93,191) (61,071)
Net current assets 62,097 38,483
Total assets less current liabilities 276,484 274,631
Creditors: amounts falling due after more than one year 8 (59,825) (63,720)
Provisions for liabilities (7,734) (11,095)
Net assets 208,925 199,816
Capital and reserves
Called up share capital 100 100
Profit and loss account 208,825 199,716
Shareholders' funds 208,925 199,816
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R E Boyns
Director
Approved by the board on 29 March 2021
Boyns Information Systems Ltd
Notes to the Accounts
for the year ended 31 March 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property 4% straight line
Plant and machinery 25% reducing balance
Fixtures and fittings 10% straight line
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Government grant
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful life of the assets concerned. Other grants are credited to the profit and loss account as the releated expenditure is incurred.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2019 22,328
At 31 March 2020 22,328
Amortisation
At 1 April 2019 22,328
At 31 March 2020 22,328
Net book value
At 31 March 2020 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2019 202,687 144,232 41,739 388,658
Additions - 459 - 459
At 31 March 2020 202,687 144,691 41,739 389,117
Depreciation
At 1 April 2019 32,493 94,364 27,853 154,710
Charge for the year 8,104 10,644 3,472 22,220
At 31 March 2020 40,597 105,008 31,325 176,930
Net book value
At 31 March 2020 162,090 39,683 10,414 212,187
At 31 March 2019 170,194 49,868 13,886 233,948
5 Investments
Other
investments
£
Cost
At 1 April 2019 2,200
At 31 March 2020 2,200
6 Debtors 2020 2019
£ £
Trade debtors 13,779 19,529
Other debtors 7,194 3,579
20,973 23,108
7 Creditors: amounts falling due within one year 2020 2019
£ £
Trade creditors 20,213 22,245
Taxation and social security costs 36,460 25,903
Other creditors 36,518 12,923
93,191 61,071
8 Creditors: amounts falling due after one year 2020 2019
£ £
Other creditors 59,825 63,720
Included in other creditors is a government grant which is being released to the profit and loss account over the lifetime of the asset to which it relates, at a rate equivalent to the depreciation policy of the asset. This rate being between 4% and 25% per year.
9 Other information
Boyns Information Systems Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 5 Ffordd Celyn
Lon Parcwr Business Parc
Ruthin
Denbighshire
LL15 1NJ
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