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Registered number: 14146982
Box Clever Energy Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14146982
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,694 -
10,694 -
CURRENT ASSETS
Stocks 5 743,496 409,422
Debtors 6 16,133 42,440
Cash at bank and in hand 5,774 245,252
765,403 697,114
Creditors: Amounts Falling Due Within One Year 7 (19,239 ) (5,224 )
NET CURRENT ASSETS (LIABILITIES) 746,164 691,890
TOTAL ASSETS LESS CURRENT LIABILITIES 756,858 691,890
NET ASSETS 756,858 691,890
CAPITAL AND RESERVES
Called up share capital 8 149 149
Share premium account 958,926 759,951
Profit and Loss Account (202,217 ) (68,210 )
SHAREHOLDERS' FUNDS 756,858 691,890
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Coles
Director
8 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Box Clever Energy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14146982 . The registered office is 79 Torrington Avenue, Coventry, CV4 9AG.
The directors have not carried forward any research and development expendiutre in the financial year to 30th June 2023.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 - - -
Additions 4,667 8,700 13,367
As at 30 June 2024 4,667 8,700 13,367
Depreciation
As at 1 July 2023 - - -
Provided during the period 933 1,740 2,673
As at 30 June 2024 933 1,740 2,673
Net Book Value
As at 30 June 2024 3,734 6,960 10,694
As at 1 July 2023 - - -
5. Stocks
30 June 2024 30 June 2023
£ £
Stock 743,496 409,422
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Other debtors - Rent Deposit 14,101 14,101
VAT 2,032 28,339
16,133 42,440
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 1 -
Other taxes and social security 10,141 446
Net wages - 28
Other creditors - Pension 1,347 -
Accruals and deferred income 4,750 4,750
Directors' loan accounts 3,000 -
19,239 5,224
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8. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 149 149
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