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Registration number: 12128663

Plymouth Ginbox Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Plymouth Ginbox Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Plymouth Ginbox Ltd

Company Information

Director

Mr MRM Herbert

Registered office

74 Madeira Road
Plymouth
Devon
PL1 2JU

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Plymouth Ginbox Ltd

(Registration number: 12128663)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

14,062

-

Current assets

 

Debtors

6

46,231

51,541

Cash at bank and in hand

 

84,381

3

 

130,612

51,544

Creditors: Amounts falling due within one year

7

(102,192)

(23,048)

Net current assets

 

28,420

28,496

Total assets less current liabilities

 

42,482

28,496

Creditors: Amounts falling due after more than one year

7

(39,469)

(28,607)

Provisions for liabilities

(2,672)

-

Net assets/(liabilities)

 

341

(111)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

340

(112)

Shareholders' funds/(deficit)

 

341

(111)

 

Plymouth Ginbox Ltd

(Registration number: 12128663)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 January 2024
 

.........................................

Mr MRM Herbert

Director

 

Plymouth Ginbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
74 Madeira Road
Plymouth
Devon
PL1 2JU

These financial statements were authorised for issue by the director on 15 January 2024.

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).

The director has prepared the financial statements on a going concern basis, on the understanding that they will continue to provide financial support if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.

The prior year set of accounts were prepared under the accounting standard FRS 105 (Micro-entities). The comparatives have been reviewed under the current framework used and there were no applicable transition adjustments required.

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.

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.

 

Plymouth Ginbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,687

-

 

Plymouth Ginbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

18,750

18,750

At 30 September 2023

18,750

18,750

Depreciation

Charge for the year

4,688

4,688

At 30 September 2023

4,688

4,688

Carrying amount

At 30 September 2023

14,062

14,062

6

Debtors

2023
£

2022
£

Other debtors

46,231

51,541

46,231

51,541

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

14

11,265

Trade creditors

 

39,641

1,276

Taxation and social security

 

56,175

9,365

Accruals and deferred income

 

4,472

1,140

Other creditors

 

1,890

2

 

102,192

23,048

 

Plymouth Ginbox Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

39,469

28,607