Boxatricks Limited
Unaudited Financial Statements
For the year ended 31 July 2023
Pages for Filing with Registrar
Company Registration No. 07320722 (England and Wales)
Boxatricks Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Boxatricks Limited
Balance Sheet
As at 31 July 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
559
501
Cash at bank and in hand
583
742
1,142
1,243
Creditors: amounts falling due within one year
4
(447,734)
(445,849)
Net current liabilities
(446,592)
(444,606)
Capital and reserves
Called up share capital
5
150
150
Share premium account
59,967
59,967
Profit and loss reserves
(506,709)
(504,723)
Total equity
(446,592)
(444,606)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 July 2024 and are signed on its behalf by:
S Springford
Director
Company Registration No. 07320722
Boxatricks Limited
Notes to the Financial Statements
For the year ended 31 July 2023
Page 2
1
Accounting policies
Company information
Boxatricks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on the going concern basis notwithstanding net liabilities at the year end of £true446,592 (2022: £444,606). The directors believe the going concern basis to remain appropriate as the company continues to meet its day to day liabilities as they fall due. The directors will continue to provide financial support to the company for the foreseeable future, and will not seek repayment of their loans of £412,524 (2022: £408,812) until the company is in a position to repay them. The financial statements do not include any adjustments that would result from the consequences of the company not being able to continue to trade.
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
Fee income represents revenue earned under a wide variety of contracts to provide professional service. Revenue is recognised as earned when, and to the extent that, the firm obtains right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside of the control of the firm is recognised when the contingent events occurs.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.
Boxatricks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
Page 3
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Directors
4
4
Total
4
4
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
559
501
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,139
19,076
Trade creditors
3,256
2,910
Other creditors
422,524
418,812
Accruals and deferred income
3,815
5,051
447,734
445,849
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
1,500
1,500
150
150
Boxatricks Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
5
Called up share capital
(Continued)
Page 4
All shares have full voting rights and full entitlement to profit and distribution.
6
Related party transactions
Included within other creditors is a balance of £116,500 (2022: £114,000) owed to M Whitehill, a director and shareholder of the company.
Included within other creditors is a balance of £294,500 (2022: £294,500) owed to D Briggs, a director and shareholder of the company.
Included within other creditors is a balance of £1,524 (2022: £312) owed to S Springford, a director and shareholder of the company.
During the year the company paid production & development fees of £4,900 (2022: £17,000) to a director of the company. The company was also invoiced for travel and other expenses of £144 (2022: £300.)
7
Control
There is no ultimate controlling party.