Tekbox Ltd 06193248 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is retail sales of furniture, equipment and accessories Digita Accounts Production Advanced 6.30.9574.0 true true 06193248 2022-04-01 2023-03-31 06193248 2023-03-31 06193248 bus:Director2 1 2023-03-31 06193248 bus:Director2 2 2023-03-31 06193248 bus:Director2 3 2023-03-31 06193248 bus:OrdinaryShareClass1 2023-03-31 06193248 core:CurrentFinancialInstruments 2023-03-31 06193248 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06193248 core:FurnitureFittingsToolsEquipment 2023-03-31 06193248 core:MotorVehicles 2023-03-31 06193248 core:OtherPropertyPlantEquipment 2023-03-31 06193248 bus:SmallEntities 2022-04-01 2023-03-31 06193248 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06193248 bus:FullAccounts 2022-04-01 2023-03-31 06193248 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06193248 bus:RegisteredOffice 2022-04-01 2023-03-31 06193248 bus:Director2 2022-04-01 2023-03-31 06193248 bus:Director2 1 2022-04-01 2023-03-31 06193248 bus:Director2 2 2022-04-01 2023-03-31 06193248 bus:Director2 3 2022-04-01 2023-03-31 06193248 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06193248 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06193248 core:FurnitureFittings 2022-04-01 2023-03-31 06193248 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 06193248 core:MotorVehicles 2022-04-01 2023-03-31 06193248 core:OfficeEquipment 2022-04-01 2023-03-31 06193248 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 06193248 core:PlantMachinery 2022-04-01 2023-03-31 06193248 countries:EnglandWales 2022-04-01 2023-03-31 06193248 2022-03-31 06193248 bus:Director2 1 2022-03-31 06193248 bus:Director2 2 2022-03-31 06193248 bus:Director2 3 2022-03-31 06193248 core:FurnitureFittingsToolsEquipment 2022-03-31 06193248 core:MotorVehicles 2022-03-31 06193248 core:OtherPropertyPlantEquipment 2022-03-31 06193248 2021-04-01 2022-03-31 06193248 2022-03-31 06193248 bus:Director2 2 2022-03-31 06193248 bus:Director2 3 2022-03-31 06193248 bus:OrdinaryShareClass1 2022-03-31 06193248 core:CurrentFinancialInstruments 2022-03-31 06193248 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06193248 core:FurnitureFittingsToolsEquipment 2022-03-31 06193248 core:MotorVehicles 2022-03-31 06193248 core:OtherPropertyPlantEquipment 2022-03-31 06193248 bus:Director2 2 2021-04-01 2022-03-31 06193248 bus:Director2 3 2021-04-01 2022-03-31 06193248 bus:Director2 2 2021-03-31 06193248 bus:Director2 3 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06193248

Tekbox Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Tekbox Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Tekbox Ltd

Company Information

Director

Mr A Mohammed

Registered office

The Granary
Grange Farm Business Park
Woodhurst
Cambridgeshire
PE28 3BQ

Accountants

Rutland Accountancy
Rutland House
Tipps End
Welney
Wisbech
Cambridgeshire
PE14 9SG

 

Tekbox Ltd

(Registration number: 06193248)
Balance Sheet as at 31 March 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

7,653

9,722

Current assets

 

Stocks

5

205,398

332,994

Debtors

6

46,822

13,792

Cash at bank and in hand

 

608,139

224,835

 

860,359

571,621

Creditors: Amounts falling due within one year

7

(290,265)

(186,799)

Net current assets

 

570,094

384,822

Total assets less current liabilities

 

577,747

394,544

Provisions for liabilities

(5,856)

(6,249)

Net assets

 

571,891

388,295

Capital and reserves

 

Called up share capital

8

3

3

Retained earnings

571,888

388,292

Shareholders' funds

 

571,891

388,295

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Tekbox Ltd

(Registration number: 06193248)
Balance Sheet as at 31 March 2023

Approved and authorised by the director on 4 October 2023
 

.........................................
Mr A Mohammed
Director

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Granary
Grange Farm Business Park
Woodhurst
Cambridgeshire
PE28 3BQ
United Kingdom

The principal place of business is:
The Granary
Grange Farm Business Park
Woodhurst
Cambridgeshire
PE28 3BQ
United Kingdom

These financial statements were authorised for issue by the director on 4 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

20% Reducing balance

Furniture and fittings

15% Reducing balance

Office equipment

20% Reducing balance

Motor vehicles

25% Reducing balance

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 5).

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

15,000

3,000

3,392

21,392

Additions

540

-

-

540

Disposals

(640)

-

-

(640)

At 31 March 2023

14,900

3,000

3,392

21,292

Depreciation

At 1 April 2022

8,984

750

1,936

11,670

Charge for the year

1,115

563

291

1,969

At 31 March 2023

10,099

1,313

2,227

13,639

Carrying amount

At 31 March 2023

4,801

1,687

1,165

7,653

At 31 March 2022

6,016

2,250

1,456

9,722

5

Stocks

2023
£

2022
£

Other inventories

205,398

332,994

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

359

Prepayments

24,182

8,433

Other debtors

22,640

5,000

 

46,822

13,792

7

Creditors

Creditors: amounts falling due within one year

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Due within one year

Trade creditors

27,835

13,664

Taxation and social security

99,082

84,426

Accruals and deferred income

810

814

Other related parties

104,733

85,493

Other creditors

57,805

2,402

290,265

186,799

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

         

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £60,000.00 (2022 - £9,000.00) per ordinary share

 

60,000

 

9,000

         
 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

10

Related party transactions

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr A Mohammed

Loans

-

-

-

-

Expense Claims

520

(520)

520

520

Other loan balances

84,973

(40,760)

60,000

104,213

 

85,493

(41,280)

60,520

104,733

       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 March 2022
£

Mr A Mohammed

Expense Claims

2,779

(2,779)

520

-

520

Other loan balances

148,164

(72,191)

9,000

-

84,973

 

150,943

(74,970)

9,520

-

85,493

         

 

 

Tekbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,100

8,760