Company registration number 12679974 (England and Wales)
SMARTBOX.AI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
SMARTBOX.AI LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SMARTBOX.AI LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,230
18,799
Current assets
Debtors
4
4,609,811
2,289,989
Cash at bank and in hand
2,728
19,404
4,612,539
2,309,393
Creditors: amounts falling due within one year
5
(1,853,362)
(7,128,560)
Net current assets/(liabilities)
2,759,177
(4,819,167)
Total assets less current liabilities
2,773,407
(4,800,368)
Creditors: amounts falling due after more than one year
6
(9,107,464)
-
Net liabilities
(6,334,057)
(4,800,368)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(6,334,157)
(4,800,468)
Total equity
(6,334,057)
(4,800,368)

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 October 2025 and are signed on its behalf by:
B Gowers
Director
Company registration number 12679974 (England and Wales)
SMARTBOX.AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

Smartbox.AI Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the company had net liabilities of £6,334,057 (2024: £4,800,368).

The directors consider the going concern basis to be appropriate because, in their opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.

If the company was unable to continue to obtain sufficient funding to enable it to pay its debts as they fell due, it would be unable to continue trading and adjustments would have to be made reduce the value of assets to their realisable amount, to provide for any further liabilities which might arise.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. Turnover is recognised at the point of which the service is provided.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SMARTBOX.AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
16
15
SMARTBOX.AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024
34,439
Additions
266
Disposals
(200)
At 30 April 2025
34,505
Depreciation and impairment
At 1 May 2024
15,640
Depreciation charged in the year
4,712
Eliminated in respect of disposals
(77)
At 30 April 2025
20,275
Carrying amount
At 30 April 2025
14,230
At 30 April 2024
18,799
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
213,169
43,650
Other debtors
4,396,642
2,246,339
4,609,811
2,289,989
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
775,584
406,027
Amounts owed to group undertakings
-
0
5,799,918
Taxation and social security
283,889
192,215
Other creditors
793,889
730,400
1,853,362
7,128,560
SMARTBOX.AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings
8,905,294
-
0
Other creditors
202,170
-
0
9,107,464
-
0
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Related party transactions

Included within other creditors at the balance sheet date is an amount of £101,343 (2024: £NIL) due to the directors in the period.

Included within trade creditors at the balance sheet date is an amount of £33,750 (2024: £NIL) due to Carrick International Holdings Ltd, a company in which A Rawlinson is a Director. During the year the company made purchase s of £82,500 (2024: £92,500) from Carrick International Holdings Ltd.

Included within trade creditors at the balance sheet date is an amount of £NIL (2024: £74,758) due to Hyperplanes Ltd, a company controlled by B Gowers and M Challahan. During the year the company made purchase of £NIL (2024: £145,220) from Hyperplanes Ltd.

9
Parent company

The ultimate parent company is Gravicus Technologies Limited whose registered office is 166 College Road, Harrow, England, HA1 1RA.

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