1.
General Information
Boxbuild Holdings Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10699886
. The registered office is Downsview House, 141-143 Station Road East, Oxted, Surrey, RH8 0QE.
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.
Significant judgements and estimations
The directors consider the accounting estimates and assumptions below to be its critical accounting estimates and judgements:
Going Concern
The company's sole activity is as a holding company with one subsidiary. On this basis the directors consider it appropriate to prepare thefinancial statements on a going concern basis.
Fixed Asset Investments
Fixed asset investments in subsidiary undertakings are regularly reviewed by the directors and impairments to the carrying value recognisedif necessary to reflect any estimated permanent reductions in value.
It is considered by the directors that the fair value of these shares cannot be measured reliably. These investments are measured at cost less impairment. The estimated realisable value of current asset investments at the financial year end date was £202,413 (31 March 2024: £202,413).
2.3.
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.
2.4.
Financial Instruments
2.4.
Financial Instruments - continued
Share Capital of the Company
Ordinary Share Capital
The ordinary share capital of the company is presented as equity.
Cash and cash equivalents
Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readilyconvertible to known amounts of cash that are subject to an insignificant risk of change in value.
Unlisted Investments
The company holds investments in unlisted non-puttable equity shares in a subsidiary undertaking. It is considered by the directors that thefair value of these shares cannot be measured reliably. These investments are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial assets that aremeasured at cost or amortised cost, including unlisted investments, loans, trade debtors and cash. If there is objective evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.
Other financial assets
Other financial assets including trade debtors for goods or services sold to customers on short-term credit, are initially measured at theundiscounted amount of cash receivable from that customer, which is normally the invoice price, and are subsequently measured at
amortised cost less impairment, where there is objective evidence of an impairment.
...CONTINUED
Boxbuild Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
Loans and borrowings
All loans and borrowings, both assets and liabilities are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.
Other financial liabilities
Trade creditors are measured at invoice price, unless payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. In this case the arrangement constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
2.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2 (2024: 2)
4.
Investments
| Subsidiaries | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
...CONTINUED
Boxbuild Holdings Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Boxbuild Limited
Registered office: Bloc Hotels South Terminal, London Gatwick Airport, Gatwick, United Kingdom, RH6 0NN
Nature of business: Design and procurement services and technology R&D
|
Class of shares
|
Ordinary
|
||
|
% holding
|
100.00%
|
||
|
2024
|
2024
|
||
|
£
|
£
|
||
|
Aggregate capital and reserves
|
204,943
|
204,943
|
|
|
Profit for the year
|
361,368
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
361,368
|
|
6.
Reserves
| Share Premium | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 April 2024 |
|
|
| As at 31 March 2025 |
|
|
7.
Ultimate Controlling Party
The company's ultimate controlling parties are Robert and Rebecca Morgan by virtue of their ownership of a controlling interest in the issued share capital in the company.