Acorah Software Products - Accounts Production 14.5.601 false true true 30 September 2022 1 October 2021 false 1 October 2022 30 September 2023 30 September 2023 12884963 Mr A Bell Mr R Wilkinson Mr F Cunningham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12884963 2022-09-30 12884963 2023-09-30 12884963 2022-10-01 2023-09-30 12884963 frs-core:CurrentFinancialInstruments 2023-09-30 12884963 frs-core:ComputerEquipment 2023-09-30 12884963 frs-core:ComputerEquipment 2022-10-01 2023-09-30 12884963 frs-core:ComputerEquipment 2022-09-30 12884963 frs-core:PlantMachinery 2023-09-30 12884963 frs-core:PlantMachinery 2022-10-01 2023-09-30 12884963 frs-core:PlantMachinery 2022-09-30 12884963 frs-core:ShareCapital 2023-09-30 12884963 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 12884963 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12884963 frs-bus:FilletedAccounts 2022-10-01 2023-09-30 12884963 frs-bus:SmallEntities 2022-10-01 2023-09-30 12884963 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 12884963 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 12884963 frs-bus:OrdinaryShareClass1 2022-10-01 2023-09-30 12884963 frs-bus:OrdinaryShareClass1 2023-09-30 12884963 frs-core:DeferredTaxation 2022-10-01 2023-09-30 12884963 frs-core:DeferredTaxation 2022-09-30 12884963 frs-core:DeferredTaxation 2023-09-30 12884963 frs-bus:Director1 2022-10-01 2023-09-30 12884963 frs-bus:Director2 2022-10-01 2023-09-30 12884963 frs-bus:Director3 2022-10-01 2023-09-30 12884963 frs-countries:EnglandWales 2022-10-01 2023-09-30 12884963 2021-09-30 12884963 2022-09-30 12884963 2021-10-01 2022-09-30 12884963 frs-core:CurrentFinancialInstruments 2022-09-30 12884963 frs-core:ShareCapital 2022-09-30 12884963 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30 12884963 frs-bus:OrdinaryShareClass1 2021-10-01 2022-09-30
Registered number: 12884963
SBX Studios Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12884963
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,007 10,138
7,007 10,138
CURRENT ASSETS
Debtors 5 110,452 1,059,268
Cash at bank and in hand 301,464 199,918
411,916 1,259,186
Creditors: Amounts Falling Due Within One Year 6 (123,141 ) (1,138,950 )
NET CURRENT ASSETS (LIABILITIES) 288,775 120,236
TOTAL ASSETS LESS CURRENT LIABILITIES 295,782 130,374
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,752 ) (1,926 )
NET ASSETS 294,030 128,448
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 294,027 128,445
SHAREHOLDERS' FUNDS 294,030 128,448
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Wilkinson
Director
8 January 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SBX Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12884963 . The registered office is Office 9, Skinner House, 38-40 Bell Street, Reigate, RH2 7BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Computer Equipment 33% on cost
2.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 October 2022 3,645 12,671 16,316
Additions - 2,282 2,282
As at 30 September 2023 3,645 14,953 18,598
Depreciation
As at 1 October 2022 533 5,645 6,178
Provided during the period 729 4,684 5,413
As at 30 September 2023 1,262 10,329 11,591
Net Book Value
As at 30 September 2023 2,383 4,624 7,007
As at 1 October 2022 3,112 7,026 10,138
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 105,189 576,273
Prepayments and accrued income 5,263 435,734
VAT - 47,261
110,452 1,059,268
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 53,467 402,303
Bank loans and overdrafts 120 -
Corporation tax 51,797 9,398
Other taxes and social security 1,079 1,079
VAT 7,210 -
Other creditors 8,270 8,270
Accruals and deferred income 1,198 717,900
123,141 1,138,950
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 October 2022 1,926 1,926
Utilised (174 ) (174)
Balance at 30 September 2023 1,752 1,752
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
3 Ordinary Shares of £ 1.00 each 3 3
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9. Related Party Transactions
Soap Box London Limited
A company in which Mr Bell and Mr Wilkinson are also directors.
At the balance sheet date there was an outstanding loan balance due to Soap Box London Limited of £8,270. (2022: £8,270) This loan is interest free and repayable upon demand.
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