Boxed Energy Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Boxed Energy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08333841 . The registered office is Office 6 , Bristol Science Park Dirac Crescent, Emersons Green, Bristol, BS16 7FR.

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. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed 10 years.

2.4. 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

Straight Line - 5 years

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Boxed Energy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. 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: 4 (2024: 4)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	154,419
Disposals	(154,419 )

As at 31 March 2025	-

Amortisation
As at 1 April 2024	154,419
Disposals	(154,419 )

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

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Boxed Energy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	18,244
Disposals	(18,244 )

As at 31 March 2025	-

Depreciation
As at 1 April 2024	18,244
Disposals	(18,244 )

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	4,759
Prepayments and accrued income	384,139	7,662
VAT	21,705	8,048
Amounts owed by group undertakings	820,160	-

	1,226,004	20,469

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	101,642	33,117
Bank loans and overdrafts	-	212
Corporation tax	2,955	-
Accruals and deferred income	321,425	-
Amounts owed to other participating interests	1,121,151	191,618

	1,547,173	224,947

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Boxed Energy Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100,000	100,000

9. Related Party Transactions

Boxed Management Services Limited (previously named Fontenergy Construction Services Limited)

Joint Venture

During the year, Boxed Management Services Limited provided the following services to the Company:

- management charges to the value of £36,000 (2024: £36,000) net of VAT

During the year, the Company incurred amounts owed to Boxed Management Services Limited of £2,056,585 (2024: £511,775) and a sum of £1,113,809 (2024: £486,000) was repaid.

At the year-end, £1,121,151 (2024: £174,775) was owed to Boxed Management Services Limited by the Company.

P Tuch and M Button, directors of the Company, are also directors of Boxed Management Services Limited.

Boxed Light Services Limited

Common Directors

During the year, the Company made net sales totalling £146,192 to Boxed Light Services Limited in relation to additional site and maintenance costs.

At the year-end, £307,430 (2024: £nil) was owed by Boxed Light Services Limited to the Company.

Boxed Heat Services Limited

Common Directors

During the year, the Company made net sales totalling £1,035,000 to Boxed Heat Services Limited in relation to additional site and maintenance costs.

At the year-end, £512,729 (2024: £nil) was owed by Boxed Heat Services Limited to the Company.

Boxed Esco Services Limited

Common Directors

There is an intercompany loan payable amount of £nil (2024: £16,843) due to Boxed Esco Services Limited as at year end.

P Tuch and M Button, directors of the Company, are also directors of Boxed Esco Services Limited.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	6	1,226,004		20,469
Cash at bank and in hand		393,451		66,287

		1,619,455		86,756
Creditors: Amounts Falling Due Within One Year	7	(1,547,173 )		(224,947 )

NET CURRENT ASSETS (LIABILITIES)			72,282		(138,191 )

TOTAL ASSETS LESS CURRENT LIABILITIES			72,282		(138,191 )

NET ASSETS/(LIABILITIES)			72,282		(138,191 )

CAPITAL AND RESERVES
Called up share capital	8		100,000		100,000
Profit and Loss Account			(27,718 )		(238,191 )

SHAREHOLDERS' FUNDS			72,282		(138,191)