Blue Box Medical Limited - Accounts to registrar (filleted) - small 18.2
Blue Box Medical Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| BLUE BOX MEDICAL LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BLUE BOX MEDICAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BANKERS: |
| 30 Commercial Road |
| Totton |
| Southampton |
| Hampshire |
| SO40 3TH |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| BALANCE SHEET |
| 31 DECEMBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on were signed on its behalf by: |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 1. | STATUTORY INFORMATION |
| Blue Box Medical Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards |
| 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 |
| amounts in these financial statements are rounded to the nearest £1. |
| The financial statements have been prepared under the historical cost convention, modified to include certain |
| financial instruments at fair value. The principal accounting policies adopted are set out below. |
| Going concern |
| Due to the nature of the company's trading activities, the impact of COVID-19 has resulted in a significant upturn |
| in performance since the year end, to the extent that the company is currently reflecting net assets in excess of |
| £200,000 at the date of signing of these financial statements. |
| Turnover |
| Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are |
| physically dispatched to the customer. |
| Tangible fixed assets |
| Improvements to property - 3 years straight line |
| Computer Equipment - 2 years straight line |
| Office Equipment - 1 or 3 years straight line |
| Warehouse Equipment - 3 years straight line |
| 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 recognised in the income statement. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Foreign currencies |
| 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 of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at profit before taxation. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over period |
| of the lease. |
| Financial assets |
| 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 assets are recognised in the company's statement of financial position when the company becomes |
| party to the contractual provisions of the instrument. |
| Basic financial assets, which include trade and other receivables and cash and bank balances are initially |
| measured at transaction price including transaction costs and are subsequently carried at amortised cost using the |
| effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is |
| measured at the present value of the future receipts discounted at a market rate of interest. |
| Financial liabilities |
| Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and |
| subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the |
| debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct |
| issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the |
| discretion of the company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Warehouse | Office | Computer |
| property | equipment | equipment | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Other creditors |
| BLUE BOX MEDICAL LIMITED (REGISTERED NUMBER: 05306459) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Other creditors | 183,586 | 197,078 |
| The trade invoice financing account is secured by way of an all assets debenture. |
| 9. | POST BALANCE SHEET EVENTS |
| COVID-19 and its effects on the business represent a non-adjusting post balance sheet event. |
| Due to the nature of the company's trading activities, the impact of COVID-19 has resulted in a significant upturn |
| in performance since the year end, to the extent that the net liabilities have been cleared in full prior to the date of |
| signing of these financial statements. |