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REGISTERED NUMBER: 05666808 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2024

FOR

BEARBOX INTERNATIONAL LIMITED

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 15,958 10,906
Investments 6 2,580 -
18,538 10,906

CURRENT ASSETS
Stocks 89,000 89,649
Debtors 7 525,594 326,040
Cash at bank 66,334 129,398
680,928 545,087
CREDITORS
Amounts falling due within one year 8 135,909 103,054
NET CURRENT ASSETS 545,019 442,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,557

452,939

PROVISIONS FOR LIABILITIES 10 1,556 -
NET ASSETS 562,001 452,939

CAPITAL AND RESERVES
Called up share capital 11 120 1
Capital redemption reserve 1 1
Retained earnings 561,880 452,937
SHAREHOLDERS' FUNDS 562,001 452,939

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

BALANCE SHEET - continued
31 MAY 2024


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

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

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2024 and were signed on its behalf by:





Mr H J Murray - Director


BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


1. STATUTORY INFORMATION

BearBox International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05666808

Registered office: F3 Kingsway Business Park
Oldfield Road
Hampton
Middlesex
TW12 2HD

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods sold to customers during the year and also the subsequent installation service recognised when the work is carried out. Turnover is net of VAT and is measured at the fair value of consideration received or receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 50% on cost and 25% on reducing balance
Equipment - 25% on cost

All fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1 June 2023 586 13,840 3,878 18,304
Additions - 10,800 1,307 12,107
Disposals - (4,500 ) - (4,500 )
At 31 May 2024 586 20,140 5,185 25,911
DEPRECIATION
At 1 June 2023 239 5,487 1,672 7,398
Charge for year 118 3,150 834 4,102
Eliminated on disposal - (1,547 ) - (1,547 )
At 31 May 2024 357 7,090 2,506 9,953
NET BOOK VALUE
At 31 May 2024 229 13,050 2,679 15,958
At 31 May 2023 347 8,353 2,206 10,906

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 2,580
At 31 May 2024 2,580
NET BOOK VALUE
At 31 May 2024 2,580

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 322,463 218,665
Amounts owed by group undertakings 192,066 -
Other debtors 6,920 85,850
VAT - 3,479
Deferred tax asset - 7,920
Prepayments and accrued income 4,145 10,126
525,594 326,040

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 67,856 74,678
PAYE and social security 16,204 13,988
VAT 13,910 -
Other creditors 5,935 12,831
Directors' current accounts 25,000 -
Accrued expenses 7,004 1,557
135,909 103,054

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 47,023 40,949
Between one and five years 63,249 92,375
110,272 133,324

10. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax 1,556

BEARBOX INTERNATIONAL LIMITED (REGISTERED NUMBER: 05666808)

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


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 (7,920 )
Provided during year 9,476
Balance at 31 May 2024 1,556

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
200 A Ordinary 10p 20 1
200 B Ordinary 10p 20 -
240 C Ordinary 10p 24 -
360 D Ordinary 10p 36 -
200 E Ordinary 10p 20 -
120 1

A 99:1 bonus issue of shares took place on 26 March 2024, increasing the company's share capital to 1200 Ordinary 10p shares. On the same day the shares were reclassified into A to E Ordinary 10p shares as detailed above. All equity and voting rights remained unchanged.