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Registered number: 05615665
Boxfit UK Limited
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05615665
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 809,756 797,342
809,756 797,342
CURRENT ASSETS
Stocks 5 578,391 378,391
Debtors 6 2,660 3,881
Cash at bank and in hand 199,222 210,369
780,273 592,641
Creditors: Amounts Falling Due Within One Year 7 (783,016 ) (659,735 )
NET CURRENT ASSETS (LIABILITIES) (2,743 ) (67,094 )
TOTAL ASSETS LESS CURRENT LIABILITIES 807,013 730,248
Creditors: Amounts Falling Due After More Than One Year 8 (353,261 ) (357,778 )
NET ASSETS 453,752 372,470
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 453,748 372,466
SHAREHOLDERS' FUNDS 453,752 372,470
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Jane Mills
Director
9th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Boxfit UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05615665 . The registered office is Suite 1a Hunter House, 150 Hutton Road, Shenfield, Essex, CM15 8NL.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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 25%
Fixtures & Fittings 25%
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 12)
13 12
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 401,163 396,179 797,342
Additions - 12,414 12,414
As at 30 November 2023 401,163 408,593 809,756
Net Book Value
As at 30 November 2023 401,163 408,593 809,756
As at 1 December 2022 401,163 396,179 797,342
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5. Stocks
2023 2022
£ £
Stock 578,391 378,391
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,660 3,881
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 280,257 266,142
Bank loans and overdrafts 36,150 41,560
Corporation tax (1 ) (1 )
VAT 10,562 47
Director's loan account 456,048 351,987
783,016 659,735
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 353,261 357,778
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 4