4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11021234 2022-11-01 2023-10-31 11021234 2023-10-31 11021234 2022-10-31 11021234 2021-11-01 2022-10-31 11021234 2022-10-31 11021234 2021-10-31 11021234 core:FurnitureFittings 2022-11-01 2023-10-31 11021234 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 11021234 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 11021234 bus:OrdinaryShareClass3 2022-11-01 2023-10-31 11021234 bus:Director1 2022-11-01 2023-10-31 11021234 bus:Director2 2022-11-01 2023-10-31 11021234 core:WithinOneYear 2023-10-31 11021234 core:WithinOneYear 2022-10-31 11021234 core:FurnitureFittings 2022-10-31 11021234 core:FurnitureFittings 2023-10-31 11021234 core:AfterOneYear 2023-10-31 11021234 core:AfterOneYear 2022-10-31 11021234 core:ShareCapital 2023-10-31 11021234 core:ShareCapital 2022-10-31 11021234 core:RetainedEarningsAccumulatedLosses 2023-10-31 11021234 core:RetainedEarningsAccumulatedLosses 2022-10-31 11021234 core:FurnitureFittings 2022-10-31 11021234 bus:SmallEntities 2022-11-01 2023-10-31 11021234 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11021234 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11021234 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11021234 bus:FullAccounts 2022-11-01 2023-10-31 11021234 bus:OrdinaryShareClass1 2023-10-31 11021234 bus:OrdinaryShareClass1 2022-10-31 11021234 bus:OrdinaryShareClass2 2023-10-31 11021234 bus:OrdinaryShareClass2 2022-10-31 11021234 bus:OrdinaryShareClass3 2023-10-31 11021234 bus:OrdinaryShareClass3 2022-10-31 11021234 bus:AllOrdinaryShares 2023-10-31 11021234 bus:AllOrdinaryShares 2022-10-31 11021234 core:ComputerEquipment 2022-11-01 2023-10-31 11021234 core:OfficeEquipment 2022-11-01 2023-10-31 11021234 core:ComputerEquipment 2022-10-31 11021234 core:OfficeEquipment 2022-10-31 11021234 core:ComputerEquipment 2023-10-31 11021234 core:OfficeEquipment 2023-10-31 11021234 core:OtherRelatedParties 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 11021234
Box River Studios Limited
Filleted Unaudited Financial Statements
31 October 2023
Box River Studios Limited
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Box River Studios Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
11,284
17,820
Current assets
Debtors
7
9,160
18,958
Cash at bank and in hand
25,775
12,151
--------
--------
34,935
31,109
Creditors: amounts falling due within one year
8
72,904
43,329
--------
--------
Net current liabilities
37,969
12,220
--------
--------
Total assets less current liabilities
( 26,685)
5,600
Creditors: amounts falling due after more than one year
9
12,136
18,439
Provisions
2,821
3,386
--------
--------
Net liabilities
( 41,642)
( 16,225)
--------
--------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
( 41,742)
( 16,325)
--------
--------
Shareholders deficit
( 41,642)
( 16,225)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Box River Studios Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 25 July 2024 , and are signed on behalf of the board by:
Mr A W N Ferguson
Mr A R Jones
Director
Director
Company registration number: 11021234
Box River Studios Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, United Kingdom.
2. Statement of compliance
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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the directors. The directors have indicated their willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the directors consider the going concern basis is appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
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.
Depreciation
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:
Fixtures and fittings
-
25% straight line
Computer Equipment
-
25% straight line
Office Equipment
-
25% straight line
Financial instruments
Financial instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 5 ).
5. Dividends
During the year the company paid dividends in excess of its distributable profit in contravention of section 830 of the Companies Act 2006. The directors were not aware that this had occurred at the time the dividend was paid. The error occurred owing to a miscalculation of the profits. The shareholders are aware of their responsibilities.
6. Tangible assets
Fixtures and fittings
Computer Equipment
Office Equipment
Total
£
£
£
£
Cost
At 1 November 2022
1,700
30,708
3,061
35,469
Additions
1,356
263
1,619
-------
--------
-------
--------
At 31 October 2023
1,700
32,064
3,324
37,088
-------
--------
-------
--------
Depreciation
At 1 November 2022
628
14,541
2,480
17,649
Charge for the year
425
7,317
413
8,155
-------
--------
-------
--------
At 31 October 2023
1,053
21,858
2,893
25,804
-------
--------
-------
--------
Carrying amount
At 31 October 2023
647
10,206
431
11,284
-------
--------
-------
--------
At 31 October 2022
1,072
16,167
581
17,820
-------
--------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
8,803
13,084
Amounts owed by related undertakings
5,569
Other debtors
357
305
-------
--------
9,160
18,958
-------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,450
6,600
Trade creditors
10,171
5,588
Amounts owed to related undertakings
18,584
Accruals and deferred income
2,830
2,770
Corporation tax
17,967
14,775
Social security and other taxes
13,338
10,269
Director loan accounts
3,564
2,301
Other creditors
1,026
--------
--------
72,904
43,329
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,136
18,439
--------
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
A Ordinary Shares shares of £ 1 each
50
50
50
50
B Ordinary Shares shares of £ 1 each
25
25
25
25
C Ordinary Shares shares of £ 1 each
25
25
25
25
----
----
----
----
100
100
100
100
----
----
----
----
11. Related party transactions
At the year end, there is a balance owed to the directors of £3,564 (2022: £2,301), which is shown within creditors. During the year, the company incurred costs for office rental and utilities of £17,687 (2022: £15,857) from a related party. The company also invoiced the related party for services totalling £13,205 in the year, (2022: £17,508). At the year end, the company owed the related party £18,584 (2022: £5,569 was owed by the related party) which is shown within creditors (2022: shown within debtors).