Company Registration No. 13436384 (England and Wales)
Out of the Box Coaching & Counselling Limited
Filleted unaudited financial statements
for the year ended 30 June 2023
Out of the Box Coaching & Counselling Limited
Filleted unaudited financial statements
Contents
Out of the Box Coaching & Counselling Limited
Statement of financial position
as at 30 June 2023
Tangible assets
1,555
2,332
Cash at bank and in hand
5,432
2,444
Creditors: amounts falling due within one year
(22,952)
(16,193)
Net current liabilities
(13,255)
(12,715)
Net liabilities
(11,700)
(10,383)
Called up share capital
1
1
Profit and loss account
(11,701)
(10,384)
Shareholders' funds
(11,700)
(10,383)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 April 2024 and were signed on its behalf by
E Gimenez Fernandez
Director
Company Registration No. 13436384
Out of the Box Coaching & Counselling Limited
Notes to the Accounts
for the year ended 30 June 2023
Out of the Box Coaching & Counselling Limited is a private company, limited by shares, registered in England and Wales, registration number 13436384. The registered office is 58 Fountains Road, Cheadle Hulme, Cheadle, Cheshire, SK8 7PY.
2
Compliance with accounting standards
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The company continues to enjoy the support of the director.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 & machinery
20% straight line
Fixtures & fittings
20% straight line
Out of the Box Coaching & Counselling Limited
Notes to the Accounts
for the year ended 30 June 2023
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.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2022
2,652
458
3,110
At 30 June 2023
2,652
458
3,110
At 1 July 2022
663
115
778
Charge for the year
663
114
777
At 30 June 2023
1,326
229
1,555
At 30 June 2023
1,326
229
1,555
At 30 June 2022
1,989
343
2,332
Out of the Box Coaching & Counselling Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
22,952
16,193
Included in other creditors are loans from the director, Ms E Gimenez Fernandez, of £22,452 (2022 - 15,693). The loans are interest free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).