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REGISTERED NUMBER: 10300511 (England and Wales)


Named Boxes Ltd

Unaudited Financial Statements

for the Year Ended 31st January 2024






Named Boxes Ltd (Registered number: 10300511)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Named Boxes Ltd

Company Information
for the Year Ended 31st January 2024







DIRECTOR: Mr M A Essex





REGISTERED OFFICE: 69 Lambeth Walk
London
SE11 6DX





REGISTERED NUMBER: 10300511 (England and Wales)





ACCOUNTANTS: Naail & Co
Chartered Certified Accountants
69 Lambeth Walk
London
SE11 6DX

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Named Boxes Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Named Boxes Ltd for the year ended 31st January 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Named Boxes Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Named Boxes Ltd and state those matters that we have agreed to state to the director of Named Boxes Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Named Boxes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Named Boxes Ltd. You consider that Named Boxes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Named Boxes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Naail & Co
Chartered Certified Accountants
69 Lambeth Walk
London
SE11 6DX


Date: .............................................

Named Boxes Ltd (Registered number: 10300511)

Abridged Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 13,362 17,816

CURRENT ASSETS
Inventories 318,000 148,000
Debtors 205,436 163,087
Cash at bank and in hand 12,128 52,759
535,564 363,846
CREDITORS
Amounts falling due within one year 469,196 304,596
NET CURRENT ASSETS 66,368 59,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,730

77,066

CREDITORS
Amounts falling due after more than one
year

(31,048

)

(46,337

)

PROVISIONS FOR LIABILITIES 7 (2,926 ) (3,534 )
NET ASSETS 45,756 27,195

Named Boxes Ltd (Registered number: 10300511)

Abridged Balance Sheet - continued
31st January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 45,755 27,194
SHAREHOLDERS' FUNDS 45,756 27,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2nd August 2024 and were signed by:





Mr M A Essex - Director


Named Boxes Ltd (Registered number: 10300511)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. STATUTORY INFORMATION

Named Boxes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognized when the goods are delivered to customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less any additional costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Named Boxes Ltd (Registered number: 10300511)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
In the director's assessment of the company's ability to continue as a going concern, there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1st February 2023
and 31st January 2024 38,270
DEPRECIATION
At 1st February 2023 20,454
Charge for year 4,454
At 31st January 2024 24,908
NET BOOK VALUE
At 31st January 2024 13,362
At 31st January 2023 17,816

Named Boxes Ltd (Registered number: 10300511)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,448 9,448
Other loans 52,107 -
61,555 9,448

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,448 9,448

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,930 16,930

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,926 3,534

Deferred
tax
£   
Balance at 1st February 2023 3,534
Credit to Income Statement during year (608 )
Balance at 31st January 2024 2,926

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2023 - £100,000) were paid to the director .

Named Boxes Ltd (Registered number: 10300511)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

9. RELATED PARTY DISCLOSURES - continued

Mr M Essex
Director & 100% shareholder

At reporting date, Mr Essex owed £135,885 (2023: £92,876) to the company.
This is an interest free loan, which the director intends to repay on or before 31/10/2024.

Nordic Style London Ltd
Company under common control

At reporting date, the company owed £233,275 (2023: £160,119) to Nordic Style London Ltd. This is an interest free loan with no set repayment date.

10. POST BALANCE SHEET EVENTS

Nordic Style Sweden Ltd, a company under common control, dissolved on 6 May 2024, while owing £65,905. This amount will be written off in the next year's account.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Essex.