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Registration number: 11085020

Inbox Projects Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Inbox Projects Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Inbox Projects Limited

(Registration number: 11085020)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

17,719

24,344

Current assets

 

Stocks

-

40,220

Debtors

5

212,866

71,960

Cash at bank and in hand

 

417,081

375,301

 

629,947

487,481

Creditors: Amounts falling due within one year

6

(370,541)

(251,101)

Net current assets

 

259,406

236,380

Total assets less current liabilities

 

277,125

260,724

Creditors: Amounts falling due after more than one year

6

(14,167)

(24,167)

Provisions for liabilities

(4,429)

(4,625)

Net assets

 

258,529

231,932

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

258,429

231,832

Shareholders' funds

 

258,529

231,932

 

Inbox Projects Limited

(Registration number: 11085020)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and Directors' Report has been taken.

Approved and authorised by the Board on 5 August 2024 and signed on its behalf by:
 

.........................................
Mr G Carlon
Director

 

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax.

The current 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

Furniture and fittings

25% straight line

Computer Equipment

25% straight line

Motor Vehicles

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

6,698

26,378

33,076

At 31 December 2023

6,698

26,378

33,076

Depreciation

At 1 January 2023

2,139

6,593

8,732

Charge for the year

1,680

4,945

6,625

At 31 December 2023

3,819

11,538

15,357

Carrying amount

At 31 December 2023

2,879

14,840

17,719

At 31 December 2022

4,559

19,785

24,344

 

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

2023
£

2022
£

Trade debtors

137,324

56,590

Other debtors

75,542

15,370

212,866

71,960

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Other borrowings

12,044

10,000

Trade creditors

 

239,956

48,050

Taxation and social security

 

2,613

3,028

Other creditors

 

113,638

187,147

Amounts due to related parties

 

2,290

2,876

 

370,541

251,101

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

 

Other borrowings

14,167

24,167