2022-05-012023-04-302023-04-30false07215473BOXCUBIC 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BOXCUBIC LIMITED

Registered Number
07215473
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

BOXCUBIC LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Directors

ELLIOTT, Lee
ELLIOTT, Sean

Registered Address

Studio One 1 Dales Lane
Heworth
York
YO31 1DH

Registered Number

07215473 (England and Wales)
BOXCUBIC LIMITED
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets65,1704,262
Investments73,0002,999
8,1707,261
Current assets
Debtors810,7815,509
Cash at bank and on hand202,787148,206
213,568153,715
Creditors amounts falling due within one year9(20,388)(14,312)
Net current assets (liabilities)193,180139,403
Total assets less current liabilities201,350146,664
Provisions for liabilities10(1,016)(810)
Net assets200,334145,854
Capital and reserves
Called up share capital220220
Profit and loss account200,114145,634
Shareholders' funds200,334145,854
The financial statements were approved and authorised for issue by the Board of Directors on 1 November 2023, and are signed on its behalf by:
ELLIOTT, Lee
Director
ELLIOTT, Sean
Director

Registered Company No. 07215473
BOXCUBIC LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company continued to be that of IT services and development
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings20-
Office Equipment-4
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
5.Employee information

20232022
Average number of employees during the year10
6.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 227,04111,15018,191
Additions1962,9903,186
At 30 April 237,23714,14021,377
Depreciation and impairment
At 01 May 226,3347,59513,929
Charge for year2152,0632,278
At 30 April 236,5499,65816,207
Net book value
At 30 April 236884,4825,170
At 30 April 227073,5554,262
7.Fixed asset investments

Loans to groups1

Total

££
Cost or valuation
At 01 May 222,9992,999
Additions11
At 30 April 233,0003,000
Net book value
At 30 April 233,0003,000
At 30 April 222,9992,999

Notes

1Loans to group undertakings and participating interests
8.Debtors

2023

2022

££
Trade debtors / trade receivables10,8594,990
Other debtors(78)-
Prepayments and accrued income-519
Total10,7815,509
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables460740
Taxation and social security19,13612,780
Accrued liabilities and deferred income792792
Total20,38814,312
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.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,016810
Total1,016810