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REGISTERED NUMBER: 13248971 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FUNBOX ENTERTAINMENT (UK) LIMITED

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUNBOX ENTERTAINMENT (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A J F Corrigan
M Deith
S O Elkhawad
P T Williams





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 13248971 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 106,517 -
Tangible assets 5 3,220,873 2,523,489
3,327,390 2,523,489

CURRENT ASSETS
Stocks 118,595 57,886
Debtors 6 661,234 719,976
Cash at bank and in hand 384,602 421,117
1,164,431 1,198,979
CREDITORS
Amounts falling due within one year 7 5,282,026 4,655,500
NET CURRENT LIABILITIES (4,117,595 ) (3,456,521 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(790,205

)

(933,032

)

CREDITORS
Amounts falling due after more than one
year

8

6,698

-
NET LIABILITIES (796,903 ) (933,032 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (797,003 ) (933,132 )
SHAREHOLDERS' FUNDS (796,903 ) (933,032 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:




A J F Corrigan - Director



M Deith - Director


FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Funbox Entertainment (UK) Limited 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.

2. ACCOUNTING POLICIES

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

The accounts are prepared on the going concern basis due to the continued support of the directors.

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

Turnover is derived from the supply of amusement arcade machines.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - Straight Line (Over 6 Years)
Motor vehicles - Straight line (over 3 years)

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates an auto-enrolment pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 112,123
At 31 December 2023 112,123
AMORTISATION
Charge for year 5,606
At 31 December 2023 5,606
NET BOOK VALUE
At 31 December 2023 106,517

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 2,994,387
Additions 1,436,741
Disposals (249,310 )
At 31 December 2023 4,181,818
DEPRECIATION
At 1 January 2023 470,898
Charge for year 517,646
Eliminated on disposal (27,599 )
At 31 December 2023 960,945
NET BOOK VALUE
At 31 December 2023 3,220,873
At 31 December 2022 2,523,489

The net book value of tangible fixed assets includes £ 13,062 in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 231,624 221,283
Amounts owed by group undertakings 425,595 468,839
Other debtors 4,015 29,854
661,234 719,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 4,683 -
Trade creditors 1,500,031 516,521
Amounts owed to group undertakings 3,362,137 3,745,566
Taxation and social security 245,083 192,963
Other creditors 170,092 200,450
5,282,026 4,655,500

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 6,698 -

FUNBOX ENTERTAINMENT (UK) LIMITED (REGISTERED NUMBER: 13248971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 11,381 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1.00 100 100