Company Registration No. 12290896 (England and Wales)
Box of Heat Ltd
Unaudited accounts
for the period from 1 November 2022 to 31 December 2023
Box of Heat Ltd
Unaudited accounts
Contents
Box of Heat Ltd
Company Information
for the period from 1 November 2022 to 31 December 2023
Directors
J Wilkinson
M Maher
Company Number
12290896 (England and Wales)
Registered Office
UNIT 12A 31 EAST BUSINESS PARK
KINGFISHER WAY
DINNINGTON
ROTHERHAM
S25 3AF
UNITED KINGDOM
Box of Heat Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
77,000
77,000
Tangible assets
59,482
66,190
Inventories
1,804,108
1,402,977
Cash at bank and in hand
25,362
47,772
Creditors: amounts falling due within one year
(3,613,971)
(2,199,395)
Net current liabilities
(882,957)
(211,391)
Net liabilities
(746,475)
(68,201)
Called up share capital
151
151
Share premium
2,399,949
2,399,949
Capital contribution reserve
2,178,392
-
Profit and loss account
(5,324,967)
(2,468,301)
Shareholders' funds
(746,475)
(68,201)
For the period ending 31 December 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by
J Wilkinson
Director
Company Registration No. 12290896
Box of Heat Ltd
Notes to the Accounts
for the period from 1 November 2022 to 31 December 2023
Box of Heat Ltd is a private company, limited by shares, registered in England and Wales, registration number 12290896. The registered office is UNIT 12A 31 EAST BUSINESS PARK, KINGFISHER WAY, DINNINGTON, ROTHERHAM, S25 3AF, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Computer equipment
20% straight line
During the financial period, the amortisation on the intellectual property recognised under Intangible fixed assets has been reversed and no further amortisation will be recognised.
The accounts have been prepared on the going concern basis. The company is currently in a period of growth while building its brand and customer base with the intention to turn a profit in the next 5 years. The company continues to operate through the support of loans from the shareholder's other businesses and outside investors.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Box of Heat Ltd
Notes to the Accounts
for the period from 1 November 2022 to 31 December 2023
4
Intangible fixed assets
Other
At 31 December 2023
77,000
At 31 December 2023
77,000
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
20,897
22,568
42,124
85,589
Additions
808
2,821
12,837
16,466
At 31 December 2023
21,705
25,389
54,961
102,055
At 1 November 2022
6,685
3,761
8,953
19,399
Charge for the period
4,876
5,664
12,634
23,174
At 31 December 2023
11,561
9,425
21,587
42,573
At 31 December 2023
10,144
15,964
33,374
59,482
At 31 October 2022
14,212
18,807
33,171
66,190
Amounts falling due within one year
Trade debtors
164,777
235,250
Accrued income and prepayments
301,037
85,517
Other debtors
435,730
199,970
Box of Heat Ltd
Notes to the Accounts
for the period from 1 November 2022 to 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,644,099
875,699
Taxes and social security
326,139
151,601
Other creditors
1,302,563
1,096,965
Loans from directors
214,684
10,000
8
Capital contribution reserve
The capital contribution reserve includes amounts received under Simple Agreements for Future Equity (SAFE). These funds represent contributions from investors in anticipation of future equity issuance and do not carry any repayment obligation.
Upon the occurrence of a qualifying event, such as a future equity financing or an exit event, the SAFE investment will convert into ordinary shares. At that point, the balance held in the capital contribution reserve will be transferred to Share Capital (for the nominal value of shares issued) and Share Premium (for any excess consideration).
Until conversion, these funds remain classified within equity as a capital contribution, as they represent an unconditional contribution toward the company’s future capital structure.
9
Average number of employees
During the period the average number of employees was 19 (2022: 14).