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Registrar

Registration number: 02607549

Boxwise Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Boxwise Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Boxwise Limited

Company Information

Directors

D J George

R G Cairns

R J Lyon

A M Boulter

J Jolley

Company secretary

R J Lyon

Registered office

Hornigals
Little Tey Road
Feering
Colchester
Essex
C05 9RS

Solicitors

Thomson Webb & Corfield
16 Union Road
Cambridge
CB2 1HE

Bankers

Barclays Bank Plc
Huntingdon
Market Hill
Huntingdon
Cambridgeshire
PE29 3AE

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Boxwise Limited

(Registration number: 02607549)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,142

4,366

Current assets

 

Stocks

5

270,339

264,849

Debtors

6

1,508,472

1,380,940

Cash at bank and in hand

 

52,660

149,442

 

1,831,471

1,795,231

Creditors: Amounts falling due within one year

7

(553,962)

(587,260)

Net current assets

 

1,277,509

1,207,971

Total assets less current liabilities

 

1,283,651

1,212,337

Provisions for liabilities

(1,167)

(829)

Net assets

 

1,282,484

1,211,508

Capital and reserves

 

Called up share capital

8

12,000

12,000

Capital redemption reserve

8,000

8,000

Retained earnings

1,262,484

1,191,508

Shareholders' funds

 

1,282,484

1,211,508

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Boxwise Limited

(Registration number: 02607549)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

A M Boulter
Director

J Jolley
Director

 

Boxwise Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: Hornigals, Little Tey Road, Feering, Colchester, Essex, C05 9RS.

These financial statements were authorised for issue by the Board on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover represents the fair value of the consideration received or receivable relating to merchanting and agency business for supplying and manufacturing packaging materials in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue on an accruals basis.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

50% Straight line method and 25% straight line method

 

Boxwise Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is stated at the lower of cost and net realisable value. Cost is represented by the purchase price of the product.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 6 (2023 - 6).

 

Boxwise Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 1 May 2023

58,718

58,718

Additions

6,272

6,272

Disposals

(5,212)

(5,212)

At 30 April 2024

59,778

59,778

Depreciation

At 1 May 2023

54,352

54,352

Charge for the year

4,495

4,495

Eliminated on disposal

(5,211)

(5,211)

At 30 April 2024

53,636

53,636

Carrying amount

At 30 April 2024

6,142

6,142

At 30 April 2023

4,366

4,366

5

Stocks

2024
£

2023
£

Other inventories

270,339

264,849

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

594,206

612,111

Amounts owed by group undertakings

10

272,381

150,928

Other debtors

 

622,079

595,031

Prepayments

 

19,806

22,870

 

1,508,472

1,380,940

Whilst amounts owed by group undertakings are due on demand they are unlikely to be received within one year.
 

 

Boxwise Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

483,670

432,122

Social security and other taxes

 

21,611

92,156

Other payables

 

1,560

-

Accrued expenses

 

8,694

8,136

Corporation tax

 

38,427

54,846

 

553,962

587,260

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

12,000

12,000

12,000

12,000

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £88,798 (2023 - £50,334). The financial commitments are in respect of non-cancellable operating leases.

 

Boxwise Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Summary of transactions with other related parties


Group companies


 

Loans to related parties

2024

Parent
£

Other related parties
£

Total
£

At start of period

120,928

30,000

150,928

Advanced

218,246

-

218,246

Repaid

(88,543)

(1,000)

(89,543)

Impairment

-

(7,250)

(7,250)

At end of period

250,631

21,750

272,381

2023

Parent
£

Other related parties
£

Total
£

At start of period

147,522

39,000

186,522

Advanced

68,778

-

68,778

Repaid

(95,372)

(1,000)

(96,372)

Impairment

-

(8,000)

(8,000)

At end of period

120,928

30,000

150,928

11

Parent and ultimate parent undertaking

The company's immediate parent is CLF Packaging Limited, incorporated in England and Wales.

 The ultimate parent is CLF Limited, incorporated in England and Wales.