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Registered number: 08765819
Bluebox Energy Ltd
Financial Statements
For The Year Ended 30 November 2023
MWR Accountants
Chartered Certified Accountants
First Floor Blackdown House
Blackbrook Business Park
Taunton
TA1 2PX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08765819
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,155 12,193
7,155 12,193
CURRENT ASSETS
Stocks 34,953 6,660
Debtors 5 6,666 29,927
Cash at bank and in hand 91,697 123,402
133,316 159,989
Creditors: Amounts Falling Due Within One Year 6 (204,761 ) (92,496 )
NET CURRENT ASSETS (LIABILITIES) (71,445 ) 67,493
TOTAL ASSETS LESS CURRENT LIABILITIES (64,290 ) 79,686
Creditors: Amounts Falling Due After More Than One Year 7 (15,651 ) (25,480 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,359 ) (2,317 )
NET (LIABILITIES)/ASSETS (81,300 ) 51,889
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (81,400 ) 51,789
SHAREHOLDERS' FUNDS (81,300) 51,889
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 J C McGuire
Director
27 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bluebox Energy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08765819 . The registered office is 49 Anglesey Arms Road, Alverstoke, Gosport, Hampshire, PO12 2DG.
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
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 sale of goods and from the rendering of services.
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:
Leasehold 25% on reducing balance
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 4)
3 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 9,154 10,723 7,989 21,602 49,468
Additions - - - 500 500
As at 30 November 2023 9,154 10,723 7,989 22,102 49,968
Depreciation
As at 1 December 2022 7,932 8,500 6,678 14,165 37,275
Provided during the period 306 557 328 4,347 5,538
As at 30 November 2023 8,238 9,057 7,006 18,512 42,813
Net Book Value
As at 30 November 2023 916 1,666 983 3,590 7,155
As at 1 December 2022 1,222 2,223 1,311 7,437 12,193
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,663 25,525
Other debtors 3 4,402
6,666 29,927
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 72,591 68,567
Bank loans and overdrafts 10,000 10,000
Other creditors 142,653 17,565
Taxation and social security (20,483 ) (3,636 )
204,761 92,496
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,651 25,480
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Page 5
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 15,000 15,000
15,000 15,000
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