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Company registration number: 03219260
Screenbox Solutions Limited
Unaudited filleted financial statements
05 April 2023
Screenbox Solutions Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Screenbox Solutions Limited
Directors and other information
Director Mr K R Barnes
Company number 03219260
Registered office Croft House
Station Road
Barnoldswick
Lancashire
BB18 5NA
Accountants Windle & Bowker Limited
Croft House
Station Road
Barnoldswick
Lancashire
Screenbox Solutions Limited
Statement of financial position
5 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 360 480
_______ _______
360 480
Current assets
Cash at bank and in hand 164 275
_______ _______
164 275
Creditors: amounts falling due
within one year 6 ( 20,550) ( 19,272)
_______ _______
Net current liabilities ( 20,386) ( 18,997)
_______ _______
Total assets less current liabilities ( 20,026) ( 18,517)
_______ _______
Net liabilities ( 20,026) ( 18,517)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 20,126) ( 18,617)
_______ _______
Shareholder deficit ( 20,026) ( 18,517)
_______ _______
For the year ending 05 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 October 2023 , and are signed on behalf of the board by:
Mr K R Barnes
Director
Company registration number: 03219260
Screenbox Solutions Limited
Notes to the financial statements
Year ended 5 April 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Croft House, Station Road, Barnoldswick, Lancashire, BB18 5NA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 6 April 2022 and 5 April 2023 8,273 8,273
_______ _______
Depreciation
At 6 April 2022 7,793 7,793
Charge for the year 120 120
_______ _______
At 5 April 2023 7,913 7,913
_______ _______
Carrying amount
At 5 April 2023 360 360
_______ _______
At 5 April 2022 480 480
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 20,550 19,272
_______ _______
7. Related party transactions
The Director has provided an interest free loan to the company. The balance due to him at the year-end was £19,850 (05 April 2022 - £18,572).This balance is included in creditors falling due within one year.
8. Controlling party
The company is under the control of the director and his family who own all of the company's issued share capital.