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Registered number: 08768220
Bimbox Associates Limited
Financial Statements
For The Year Ended 30 November 2023
Dymond Ashworth
Chartered Certified Accountants
First Floor 98-100
Gisburn Road
Barrowford
Lancashire
BB9 6EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08768220
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 56,048 35,358
56,048 35,358
CURRENT ASSETS
Debtors 6 354,648 390,121
Cash at bank and in hand 316,690 214,040
671,338 604,161
Creditors: Amounts Falling Due Within One Year 7 (166,267 ) (166,769 )
NET CURRENT ASSETS (LIABILITIES) 505,071 437,392
TOTAL ASSETS LESS CURRENT LIABILITIES 561,119 472,750
PROVISIONS FOR LIABILITIES
Deferred Taxation - (5,711 )
NET ASSETS 561,119 467,039
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 561,117 467,037
SHAREHOLDERS' FUNDS 561,119 467,039
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 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 C Crookes
Director
30/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bimbox Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08768220 . The registered office is 70 Spring Gardens, Manchester, Greater Manchester, M2 2BQ.
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. Significant judgements and estimations
During the year and the prior year, the Company incurred expenditure on Research and Development. Based on expenditure deemed as qualifying, known amounts of expenditure and known rates and allowances available, the directors have formed an estimate of the credit that the company will receive for surrendering relief.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Website and computer software costs have been amortised completely and written off in the accounts.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met, in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. 
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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2.6. 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 33% on cost
Fixtures & Fittings 25% on cost
Office Equipment 25% on cost
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: 16 (2022: 12)
16 12
4. Intangible Assets
Website Computer Software Total
£ £ £
Cost
As at 1 December 2022 33,810 6,300 40,110
Disposals (33,810 ) (6,300) (40,110 )
As at 30 November 2023 - - -
...CONTINUED
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Amortisation
As at 1 December 2022 33,810 6,300 40,110
Disposals (33,810 ) (6,300 ) (40,110 )
As at 30 November 2023 - - -
Net Book Value
As at 30 November 2023 - - -
As at 1 December 2022 - - -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 December 2022 833 37,838 39,603 78,274
Additions - 40,991 7,167 48,158
As at 30 November 2023 833 78,829 46,770 126,432
Depreciation
As at 1 December 2022 532 20,886 21,498 42,916
Provided during the period 278 18,691 8,499 27,468
As at 30 November 2023 810 39,577 29,997 70,384
Net Book Value
As at 30 November 2023 23 39,252 16,773 56,048
As at 1 December 2022 301 16,952 18,105 35,358
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 214,527 254,508
Other debtors 140,121 135,613
354,648 390,121
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,358 65,734
Other creditors 70,227 54,935
Taxation and social security 77,682 46,100
166,267 166,769
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
During the year, a company under common control provided services to the Company. Total management charges of £76,000 (2022-£103,750) were charged.
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