Registered number
09944315
Phonebox Smart Gadgets Ltd
Filleted Accounts
31 January 2024
Phonebox Smart Gadgets Ltd
Registered number: 09944315
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 138,551 123,601
Cash at bank and in hand 1,212 4,688
139,763 128,289
Creditors: amounts falling due within one year 5 (91,791) (75,781)
Net current assets 47,972 52,508
Total assets less current liabilities 47,972 52,508
Creditors: amounts falling due after more than one year 6 (6,883) (12,889)
Net assets 41,089 39,619
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,989 39,519
Shareholders' funds 41,089 39,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Javed Iqbal
Director
Approved by the board on 9 August 2024
Phonebox Smart Gadgets Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts . Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 3,146
At 31 January 2024 3,146
Depreciation
At 1 February 2023 3,146
At 31 January 2024 3,146
Net book value
At 31 January 2024 -
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 130,710 115,760
Other debtors 7,841 7,841
138,551 123,601
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,600 6,600
Director's account 35,436 35,436
Trade creditors 44,102 23,144
Taxation and social security costs 4,253 9,401
Other creditors 1,400 1,200
91,791 75,781
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,883 12,889
7 Other information
Phonebox Smart Gadgets Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Kiosk 17 Britannia Shopping Centre
Hinckley
England
LE10 1RU
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