Registered number
12762443
The Red Box of Harrogate Limited
Filleted Accounts
31 March 2023
The Red Box of Harrogate Limited
Registered number: 12762443
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 30,037 34,037
Tangible assets 4 3,073 2,587
33,110 36,624
Current assets
Stocks 15,304 10,304
Cash at bank and in hand 4,600 5,129
19,904 15,433
Creditors: amounts falling due within one year 5 (5,046) (10,150)
Net current assets 14,858 5,283
Total assets less current liabilities 47,968 41,907
Creditors: amounts falling due after more than one year 6 (69,608) (59,927)
Net liabilities (21,640) (18,020)
Capital and reserves
Called up share capital 100 100
Profit and loss account (21,740) (18,120)
Shareholders' funds (21,640) (18,020)
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.
Andrew Hart
Director
Approved by the board on 18 January 2024
The Red Box of Harrogate Limited
Notes to the Accounts
for the year ended 31 March 2023
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:
Fixtures and Equipment 25% reducing balance
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 40,007
At 31 March 2023 40,007
Amortisation
At 1 April 2022 5,970
Provided during the year 4,000
At 31 March 2023 9,970
Net book value
At 31 March 2023 30,037
At 31 March 2022 34,037
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures and Equipment
£
Cost
At 1 April 2022 3,370
Additions 1,511
At 31 March 2023 4,881
Depreciation
At 1 April 2022 783
Charge for the year 1,025
At 31 March 2023 1,808
Net book value
At 31 March 2023 3,073
At 31 March 2022 2,587
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 134 5,900
Taxation and social security costs 3,912 4,249
Other creditors 1,000 1
5,046 10,150
6 Creditors: amounts falling due after one year 2023 2022
£ £
Director's Loan Account 69,608 59,927
The company enjoys the full support of the Directors, accordingly there are no going concern issues.
7 Other information
The Red Box of Harrogate Limited is a private company limited by shares and incorporated in England. Its registered office is:
58 King Edwards Drive
Harrogate
HG1 4HL
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