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BOX AND SEAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BOX AND SEAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S Hunt





REGISTERED OFFICE: Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE





REGISTERED NUMBER: 04455760 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,729,041 1,807,211
1,729,041 1,807,211

CURRENT ASSETS
Stocks 6 205,905 271,439
Debtors 7 849,813 1,019,398
Cash at bank 7,747 24,487
1,063,465 1,315,324
CREDITORS
Amounts falling due within one year 8 1,285,191 1,495,186
NET CURRENT LIABILITIES (221,726 ) (179,862 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,507,315

1,627,349

CREDITORS
Amounts falling due after more than one
year

9

(414,097

)

(517,173

)

PROVISIONS FOR LIABILITIES 11 (239,426 ) (254,824 )
NET ASSETS 853,792 855,352

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 12 426,708 426,708
Capital redemption reserve 12 25 25
Retained earnings 12 426,959 428,519
SHAREHOLDERS' FUNDS 853,792 855,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





S Hunt - Director


BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Box And Seal 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Computer Equipment - 25% on reducing balance
Plant & Machinery - 10% on reducing balance and 25% on reducing balance
Office Equipment - 10% on reducing balance
Motor Vehicles - 25% on reducing balance
Leasehold improvements - 4% on cost
Land & Buildings - 0%

Land & Buildings will be valued on a regular basis, with any gain or impairment being accounted for appropriately.

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 Income Statement, 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.


BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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 a defined contribution 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 37 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 151,000
AMORTISATION
At 1 April 2023
and 31 March 2024 151,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property improvements machinery
£    £    £   
COST
At 1 April 2023 1,223,276 79,287 946,502
Additions - - 24,726
Disposals - - (78,250 )
At 31 March 2024 1,223,276 79,287 892,978
DEPRECIATION
At 1 April 2023 81,936 33,641 386,359
Charge for year - 3,171 54,149
Eliminated on disposal - - (27,338 )
At 31 March 2024 81,936 36,812 413,170
NET BOOK VALUE
At 31 March 2024 1,141,340 42,475 479,808
At 31 March 2023 1,141,340 45,646 560,143

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 17,633 157,694 38,622 2,463,014
Additions - 22,000 129 46,855
Disposals - - - (78,250 )
At 31 March 2024 17,633 179,694 38,751 2,431,619
DEPRECIATION
At 1 April 2023 9,325 115,567 28,975 655,803
Charge for year 831 13,534 2,428 74,113
Eliminated on disposal - - - (27,338 )
At 31 March 2024 10,156 129,101 31,403 702,578
NET BOOK VALUE
At 31 March 2024 7,477 50,593 7,348 1,729,041
At 31 March 2023 8,308 42,127 9,647 1,807,211

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 255,000 109,850 364,850
DEPRECIATION
At 1 April 2023 70,655 78,019 148,674
Charge for year 18,435 7,958 26,393
At 31 March 2024 89,090 85,977 175,067
NET BOOK VALUE
At 31 March 2024 165,910 23,873 189,783
At 31 March 2023 184,345 31,831 216,176

6. STOCKS
2024 2023
£    £   
Finished goods 205,905 271,439

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 542,606 704,785
Other debtors 509 4,364
Directors' current accounts 221,349 224,882
Tax 79,876 79,876
Prepayments 5,473 5,491
849,813 1,019,398

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,849 38,022
Hire purchase contracts 31,230 42,580
Trade creditors 800,934 874,735
Tax 48,993 26,986
Social security and other taxes 20,871 25,047
VAT 47,134 51,551
Other creditors 4,290 7,148
Factoring current account 276,864 410,429
Accruals 16,026 18,688
1,285,191 1,495,186

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 39,154 38,386
Bank loans - 2-5 years 124,537 123,033
Bank loans more 5 yr by instal 222,113 263,136
Hire purchase contracts 28,293 92,618
414,097 517,173

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 222,113 263,136

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 1 95,081 105,712
Mortgage 2 294,850 317,050
389,931 422,762

The mortgages are secured against the freehold properties.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 239,426 254,824

Deferred
tax
£   
Balance at 1 April 2023 254,824
Credit to Income Statement during year (15,398 )
Revaluation of property
Balance at 31 March 2024 239,426

BOX AND SEAL LIMITED (REGISTERED NUMBER: 04455760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 428,519 426,708 25 855,252
Profit for the year 87,075 - - 87,075
Dividends (88,635 ) - - (88,635 )
At 31 March 2024 426,959 426,708 25 853,692

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S Hunt
Balance outstanding at start of year 224,882 245,773
Amounts advanced 8,060 5,859
Amounts repaid (11,593 ) (26,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 221,349 224,882

Interest is being charged on the loan to the Director at the official rate of interest.

14. RELATED PARTY DISCLOSURES

The company operates from property owned by Mr S Hunt, a director of the company. Rent was charged at a commercial rate and totalled £98,700 for the year.

15. ULTIMATE CONTROLLING PARTY

The controlling party is S Hunt.