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Registered number: 15766876
GOLD BOX CW LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2026
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GOLD BOX CW LTD
REGISTERED NUMBER: 15766876
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2026
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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GOLD BOX CW LTD
REGISTERED NUMBER: 15766876
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2026
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 11 form part of these financial statements.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
Gold Box CW Ltd (company number 15766876) is a private company limited by shares and is incorporated in England. The registered office is C/O Imbiba Growth LLP The Loft, 1-3 Langley Court, London, United Kingdom, WC2E 9J.
During the year, the principal activity of the company was to facilitate the refurbishment of 12 Bank Street London, into a 65,000 sq ft hotel, restaurant and music venue. Going forward, the principal activity will be that of hotel operations and to act as an intermediate lessor.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
In the year ended 31 January 2026 the business had net current assets of £1,230,535 and net liabilities of £4,038,080 with a loss in the year of £2,656,956.
During the year the company was facilitating the refurbishment of 12 Bank Street, London with it moving into carrying out hotel operations and acting as an intermediate lessor in the 2027 financial year.
In assessing going concern the directors have undertaken a detailed assessment of the company’s financial position, including an analysis of cash flow forecasts based on future trading and external organisation financing. The directors have considered the availability of resources for a period of at least twelve months from the date of approval of these financial statements. With external financing in place and anticipated positive future trading, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
Accordingly, the directors consider that the use of the going concern basis in preparing the financial statements is appropriate. However, the current economic climate gives the potential for a shortfall in trading revenues and as a new business the company is reliant upon future profitability and the resulting cash generation which creates a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Assets under construction
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Assets under construction are not depreciated until the asset is available for use and then reallocated to the appropriate category.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:
Assessing impairment for tangible fixed assets
Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. Management consider each period whether there is any indication of impairment in relation to fixed assets. No such indicators have been identified in the current or prior period. There is no requirement to perform a full impairment review unless such indicators exist.
Revenue recognition
Revenue on long term contracts for services is recognised according to the stage of completion reached on the contract by measuring a proportion of costs incurred for work performed to total estimated costs. Estimating the costs to completion and therefore the total contract costs is a key judgement in respect of revenue recognition on these contracts.
Long-term contracts
Judgement is also required in accounting for long-term contracts particularly as regards to profit recognition and the assessment of future losses on contracts.
Critical accounting judgements in applying the company’s accounting policies
In the opinion of the directors there are no other critical accounting judgements made in applying the company’s accounting policies that require disclosure in the financial statements.
Key source of estimation uncertainty
In the opinion of the directors there are no other key sources of estimation uncertainty that require disclosure in the financial statements.
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The average monthly number of employees, including directors, during the year was 26 (2025 - 2).
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Assets under construction
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Charge for the year on owned assets
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Raw materials and consumables
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Due after more than one year
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Allotted, called up and fully paid
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100 (2025 - 100) Ordinary shares of £1.00 each
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Profit and loss account
The profit and loss account includes all current period retained profits or losses.
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GOLD BOX CW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
During the year, it was identified that the unaudited financial statements for the year ended 31st January 2025 had incorrectly been prepared on a cash basis rather than the accruals basis required by FRS 102 Section 1A. Specifically, revenue and costs on long-term contracts were recognised when cash was received or paid, instead of reflecting the stage of completion and performance obligations met during the period.
This error has been corrected by retrospectively restating the comparative figures. The effect of the adjustment on the prior period financial statements is summarised as follows:
Loss for the financial year has decreased from £2,093,324 to £1,381,224, representing a net positive adjustment to the result of £712,099. This reflects an understatement of turnover (£713,128) and an overstatement of cost of sales (£9,483), offset by an understatement of administrative expenses (£10,512).
There was a further reclassification of £1,000,000 from creditors due after more than one year to creditors due within one year relating to bank loans.
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs and charges represent contributions payable by the company to the scheme in the period and amounted to £1,336 (2025 - £NIL). Contributions due to the fund at 31 January 2026 were £1,934 (2025 - £NIL) and are included in other creditors.
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Related party transactions
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There is a secured loan note held in Imbiba Growth 2 LP of £2,000,000 (2025: £2,000,000).
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The ultimate controlling party is Imbiba li (Gp) LLP.
The auditors' report on the financial statements for the year ended 31 January 2026 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements, which indicates that the company is reliant upon future profit and cash generation from trading. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
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The audit report was signed on 29 October 2026 by Nicola MacLennan (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.
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