2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 31,000 6,200 3,100 9,300 21,700 24,800 4,678 2,340 1,170 3,510 1,168 2,338 xbrli:pure xbrli:shares iso4217:GBP 13471233 2023-07-01 2024-06-30 13471233 2024-06-30 13471233 2023-06-30 13471233 2022-07-01 2023-06-30 13471233 2023-06-30 13471233 2022-06-30 13471233 core:NetGoodwill 2023-07-01 2024-06-30 13471233 bus:Director1 2023-07-01 2024-06-30 13471233 core:NetGoodwill 2023-06-30 13471233 core:NetGoodwill 2024-06-30 13471233 core:AfterOneYear 2024-06-30 13471233 core:AfterOneYear 2023-06-30 13471233 core:WithinOneYear 2024-06-30 13471233 core:WithinOneYear 2023-06-30 13471233 core:ShareCapital 2024-06-30 13471233 core:ShareCapital 2023-06-30 13471233 core:RetainedEarningsAccumulatedLosses 2024-06-30 13471233 core:RetainedEarningsAccumulatedLosses 2023-06-30 13471233 core:NetGoodwill 2023-06-30 13471233 bus:SmallEntities 2023-07-01 2024-06-30 13471233 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13471233 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13471233 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13471233 bus:FullAccounts 2023-07-01 2024-06-30 13471233 core:OfficeEquipment 2023-07-01 2024-06-30 13471233 core:OfficeEquipment 2024-06-30 13471233 core:OfficeEquipment 2023-06-30 13471233 bus:Director1 1 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 13471233
TheMortbox Ltd
Filleted Unaudited Financial Statements
30 June 2024
TheMortbox Ltd
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
TheMortbox Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
21,700
24,800
Tangible assets
6
1,168
2,338
--------
--------
22,868
27,138
Current assets
Debtors
7
19,804
Cash at bank and in hand
12,201
14,424
--------
--------
32,005
14,424
Creditors: amounts falling due within one year
8
40,079
37,192
--------
--------
Net current liabilities
8,074
22,768
--------
--------
Total assets less current liabilities
14,794
4,370
Creditors: amounts falling due after more than one year
9
16,057
41,862
--------
--------
Net liabilities
( 1,263)
( 37,492)
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 1,273)
( 37,502)
-------
--------
Shareholders deficit
( 1,263)
( 37,492)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TheMortbox Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
Mrs I Petcu
Director
Company registration number: 13471233
TheMortbox Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dormers Canterbury Road, Challock, Ashford, TN254DW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
31,000
--------
Amortisation
At 1 July 2023
6,200
Charge for the year
3,100
--------
At 30 June 2024
9,300
--------
Carrying amount
At 30 June 2024
21,700
--------
At 30 June 2023
24,800
--------
6. Tangible assets
Equipment
£
Cost
At 1 July 2023 and 30 June 2024
4,678
-------
Depreciation
At 1 July 2023
2,340
Charge for the year
1,170
-------
At 30 June 2024
3,510
-------
Carrying amount
At 30 June 2024
1,168
-------
At 30 June 2023
2,338
-------
7. Debtors
2024
2023
£
£
Other debtors
19,804
--------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
883
1,589
Corporation tax
19,858
17,738
Social security and other taxes
838
2,661
Other creditors
18,500
15,204
--------
--------
40,079
37,192
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,057
41,862
--------
--------
10. Directors' advances, credits and guarantees
At the year end, a director owed the company £9,179 (2023: the company owed a director £1,602). At the year end, a director owed the company £10,625 (2023: the company owed a director £1,602).