2023-01-012023-12-312023-12-31false07887947WIREBOX 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WIREBOX LTD

Registered Number
07887947
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

WIREBOX LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Andrew Ajoodha
Rohini Ajoodha

Registered Address

Unit 1 Copsewood Lodge
1a Copsewood Road
Watford
WD24 5DY

Registered Number

07887947 (England and Wales)
WIREBOX LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets490,882137,824
90,882137,824
Current assets
Debtors5340,833328,222
Cash at bank and on hand277,069338,616
617,902666,838
Creditors amounts falling due within one year6(166,472)(179,695)
Net current assets (liabilities)451,430487,143
Total assets less current liabilities542,312624,967
Creditors amounts falling due after one year7(104,286)(133,264)
Net assets438,026491,703
Capital and reserves
Called up share capital100100
Profit and loss account437,926491,603
Shareholders' funds438,026491,703
The financial statements were approved and authorised for issue by the Board of Directors on 23 September 2024, and are signed on its behalf by:
Andrew Ajoodha
Director
Registered Company No. 07887947
WIREBOX LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. From 1 January 2022, the company has changed its depreciation policy for office equipment and computers from reducing balance of 20% to straight line of 3 years due to rapid change in technology and equipment becoming obsolete. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles20-
Office Equipment203
2.Average number of employees

20232022
Average number of employees during the year1517
3.Intangible assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

Total

£
Cost or valuation
At 01 January 2325,000
At 31 December 2325,000
Amortisation and impairment
At 01 January 2325,000
At 31 December 2325,000
Net book value
At 31 December 23-
At 31 December 22-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23219,634
Additions54,564
Disposals(158,046)
At 31 December 23116,153
Depreciation and impairment
At 01 January 2381,810
Charge for year21,836
On disposals(78,376)
At 31 December 2325,271
Net book value
At 31 December 2390,882
At 31 December 22137,824
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables129,825134,685
Amounts owed by group undertakings170,481170,481
Other debtors40,52723,056
Total340,833328,222
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables57,05837,050
Bank borrowings and overdrafts31,70263,954
Taxation and social security72,17777,178
Other creditors4,261263
Accrued liabilities and deferred income1,2741,250
Total166,472179,695
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts104,286133,264
Total104,286133,264