Registered number
12128663
Plymouth Ginbox Ltd
Filleted Accounts
31 December 2024
Plymouth Ginbox Ltd
Registered number: 12128663
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 232,408 14,062
Current assets
Stocks 19,953 -
Debtors 4 7,650 46,231
Cash at bank and in hand 2,367 84,381
29,970 130,612
Creditors: amounts falling due within one year 5 (327,965) (102,192)
Net current (liabilities)/assets (297,995) 28,420
Total assets less current liabilities (65,587) 42,482
Creditors: amounts falling due after more than one year 6 - (39,469)
Provisions for liabilities (2,672) (2,672)
Net (liabilities)/assets (68,259) 341
Capital and reserves
Called up share capital 1 1
Profit and loss account (68,260) 340
Shareholders' funds (68,259) 341
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ryan Morris
Director
Approved by the board on 2 October 2025
Plymouth Ginbox Ltd
Notes to the Accounts
for the period from 1 October 2023 to 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Office equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 7
3 Tangible fixed assets
Leasehold improvements Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 - 18,750 18,750
Additions 246,212 11,968 258,180
Disposals - (2,108) (2,108)
At 31 December 2024 246,212 28,610 274,822
Depreciation
At 1 October 2023 - 4,688 4,688
Charge for the period 30,777 7,476 38,253
On disposals - (527) (527)
At 31 December 2024 30,777 11,637 42,414
Net book value
At 31 December 2024 215,435 16,973 232,408
At 30 September 2023 - 14,062 14,062
4 Debtors 2024 2023
£ £
Trade debtors 1,181 -
Other debtors 6,469 46,231
7,650 46,231
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals and deferred income - 4,472
Bank loans and overdrafts - 14
Trade creditors 41,915 39,641
Taxation and social security costs 31,561 56,175
Other creditors 254,489 1,890
327,965 102,192
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 39,469
7 Other information
Plymouth Ginbox Ltd is a private company limited by shares and incorporated in England. Its registered office is:
74 Madeira Road
Plymouth
PL1 2JU
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