Hotbox International Limited 05872551 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is the manufacture of horticultural equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 05872551 2022-01-01 2022-12-31 05872551 2022-12-31 05872551 bus:OrdinaryShareClass1 2022-12-31 05872551 core:RetainedEarningsAccumulatedLosses 2022-12-31 05872551 core:ShareCapital 2022-12-31 05872551 core:CurrentFinancialInstruments 2022-12-31 05872551 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05872551 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 05872551 core:FurnitureFittingsToolsEquipment 2022-12-31 05872551 bus:SmallEntities 2022-01-01 2022-12-31 05872551 bus:Audited 2022-01-01 2022-12-31 05872551 bus:FullAccounts 2022-01-01 2022-12-31 05872551 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 05872551 bus:RegisteredOffice 2022-01-01 2022-12-31 05872551 bus:Director3 2022-01-01 2022-12-31 05872551 bus:Director4 2022-01-01 2022-12-31 05872551 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 05872551 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05872551 core:PlantMachinery 2022-01-01 2022-12-31 05872551 1 2022-01-01 2022-12-31 05872551 countries:UnitedKingdom 2022-01-01 2022-12-31 05872551 2021-12-31 05872551 core:FurnitureFittingsToolsEquipment 2021-12-31 05872551 2021-01-01 2021-12-31 05872551 2021-12-31 05872551 bus:OrdinaryShareClass1 2021-12-31 05872551 core:RetainedEarningsAccumulatedLosses 2021-12-31 05872551 core:ShareCapital 2021-12-31 05872551 core:CurrentFinancialInstruments 2021-12-31 05872551 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 05872551 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05872551

Hotbox International Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2022

 

Hotbox International Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Hotbox International Limited

(Registration number: 05872551)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Current assets

 

Stocks

5

159,000

203,275

Debtors

6

294,057

72,670

Cash at bank and in hand

 

66,902

294,456

 

519,959

570,401

Creditors: Amounts falling due within one year

7

(45,091)

(104,638)

Total assets less current liabilities

 

474,868

465,763

Creditors: Amounts falling due after more than one year

7

(25,000)

(35,374)

Net assets

 

449,868

430,389

Capital and reserves

 

Called up share capital

8

225

225

Retained earnings

449,643

430,164

Shareholders' funds

 

449,868

430,389

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 March 2023 and signed on its behalf by:
 

.........................................
P J Harte
Director

.........................................
L A Bradley
Director

 

Hotbox International Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital incorporated in United Kingdom and the company registration number is 05872551.

The address of its registered office is:
Unit 1 Wallingfen Business Park
236 Main Road
Newport
Brough
East Yorkshire
HU15 2RH

These financial statements were authorised for issue by the Board on 31 March 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements cover an individual entity and not that of a Group.

The financial statements are presented in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 31 March 2023 was Kevin Hopper BFP FCA, who signed for and on behalf of Forrester Boyd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Hotbox International Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in Profit or Loss Account and Statement of Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2021 - 5).

 

Hotbox International Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

15,000

15,000

At 31 December 2022

15,000

15,000

Depreciation

At 1 January 2022

15,000

15,000

At 31 December 2022

15,000

15,000

Carrying amount

At 31 December 2022

-

-

5

Stocks

2022
£

2021
£

Other inventories

159,000

203,275

6

Debtors

Note

2022
£

2021
£

Trade debtors

 

41,694

64,844

Amounts owed by related parties

10

250,326

-

Prepayments

 

1,927

4,987

Other debtors

 

110

2,839

   

294,057

72,670

 

Hotbox International Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

7

Creditors

2022
£

2021
£

Due within one year

Bank loans and overdrafts

10,000

9,626

Trade creditors

29,993

40,975

Taxation and social security

1,115

-

Other creditors

33

49,875

Accruals and deferred income

3,950

4,162

45,091

104,638

Due after one year

Loans and borrowings

25,000

35,374

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300

         

9

Financial commitments, guarantees and contingencies

The company is part of an unlimited cross guarantee arrangement in respect to amounts owed to the bank by Atrium Agri B.V. and fellow group companies.

10

Related party transactions

The directors are remunerated for their management of the Group as a whole through a fellow group company, Cambridge Glasshouse Company Limited.

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

11

Parent and ultimate parent undertaking

The ultimate holding company is Atrium Agri B.V., incorporated in the Netherlands. The company's immediate parent is Cambridge Group Holding Limited, incorporated in the United Kingdom.

The most senior parent entity producing publicly available financial statements is Cambridge Group Holding Limited. These financial statements are available upon request from the registered office of the Company, which is the same as the Parent Company and is listed on page 1.