Registered number
05378334
Boxclever Press Ltd
Filleted Accounts
31 January 2024
Boxclever Press Ltd
Registered number: 05378334
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,806 3,847
Tangible assets 4 36,642 43,343
40,448 47,190
Current assets
Stocks 232,913 923,358
Debtors 5 33,211 63,977
Cash at bank and in hand 814,877 1,116,540
1,081,001 2,103,875
Creditors: amounts falling due within one year 6 (533,109) (809,710)
Net current assets 547,892 1,294,165
Total assets less current liabilities 588,340 1,341,355
Creditors: amounts falling due after more than one year 7 (255,036) (308,714)
Provisions for liabilities (3,192) (3,889)
Net assets 330,112 1,028,752
Capital and reserves
Called up share capital 1,200 1,200
Profit and loss account 328,912 1,027,552
Shareholders' funds 330,112 1,028,752
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.
Catherine Sadler
Director
Approved by the board on 28.10.2024
Boxclever Press 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 applies 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 and value added taxes. 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. Tornover 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings in line with property values
Leasehold land and buildings 20% straight line & 33.3% straight line
Plant and machinery 20% straight line & 33.3% straight line
Fixtures and fittings 20% straight line & 33.3% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at tranaction 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 the 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised where there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 13
3 Intangible fixed assets
Goodwill: Website Costs Trademarks Total
£ £ £
Cost
At 1 February 2023 20,000 5,468 25,468
Additions - 550 550
At 31 January 2024 20,000 6,018 26,018
Amortisation -
At 1 February 2023 20,000 1,621 21,621
Provided during the year - 591 591
At 31 January 2024 20,000 2,212 22,212
Net book value
At 31 January 2024 - 3,806 3,806
At 31 January 2023 - 3,847 3,847
4 Tangible fixed assets
Leasehold Property Plant and machinery etc Fixtures & fittings Total
£ £ £ £
Cost
At 1 February 2023 30,339 33,967 33,876 98,182
Additions - 211 - 211
At 31 January 2024 30,339 34,178 33,876 98,393
Depreciation
At 1 February 2023 7,462 32,976 14,401 54,839
Charge for the year 3,034 830 3,048 6,912
At 31 January 2024 10,496 33,806 17,449 61,751
Net book value
At 31 January 2024 19,843 372 16,427 36,642
At 31 January 2023 22,877 991 19,475 43,343
5 Debtors 2024 2023
£ £
Trade debtors 19,351 28,314
Accrued income and prepayments 13,860 35,663
33,211 63,977
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 155,000 215,000
Trade creditors 80,131 144,000
Taxation and social security costs 260,235 439,283
Accruals 37,175 10,850
Other creditors 568 577
533,109 809,710
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 255,036 308,714
8 Other information
Boxclever Press Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Bennetts Field Trading Estate
Wincanton
Somerset
BA9 9DT
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