Mailbox DM Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11877670 (England and Wales)

MAILBOX DM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr D L Wright

Mr P P Wood

SECRETARY:

REGISTERED OFFICE:

165 Scudamore Road

LEICESTER

LE3 1UQ

REGISTERED NUMBER:

11877670 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Intangible assets

4

9,168

14,169

Tangible assets

5

68,172

26,612

77,340

40,781

CURRENT ASSETS

Stocks

66,550

58,250

Debtors

6

459,497

531,364

Cash at bank and in hand

125,158

89,473

651,205

679,087

CREDITORS

Amounts falling due within one year

7

433,762

352,749

NET CURRENT ASSETS

217,443

326,338

TOTAL ASSETS LESS CURRENT LIABILITIES

294,783

367,119

CREDITORS

Amounts falling due after more than one year

8

310,315

392,503

NET LIABILITIES

(15,532

)

(25,384

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(15,534

)

(25,386

)

(15,532

)

(25,384

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 April 2023 and were signed on its behalf by:

Mr D L Wright - Director

1.	STATUTORY INFORMATION

Mailbox DM Ltd is a private company, limited by shares , registered in England and Wales. The 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

25,005

AMORTISATION

At 1 April 2022

10,836

Charge for year

5,001

At 31 March 2023

15,837

NET BOOK VALUE

At 31 March 2023

9,168

At 31 March 2022

14,169

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2022

12,080

21,950

34,030

Additions

49,177

-

49,177

At 31 March 2023

61,257

21,950

83,207

DEPRECIATION

At 1 April 2022

2,192

5,226

7,418

Charge for year

3,436

4,181

7,617

At 31 March 2023

5,628

9,407

15,035

NET BOOK VALUE

At 31 March 2023

55,629

12,543

68,172

At 31 March 2022

9,888

16,724

26,612

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

428,495

429,789

Other debtors

31,000

77,247

Directors' current accounts

2

2

Prepayments and accrued income

-

24,326

459,497

531,364

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

68,445

43,549

Hire purchase contracts

-

4,390

Trade creditors

228,023

134,951

Social security and other taxes

44,597

60,433

VAT

51,986

75,340

Other creditors

32,235

25,610

Accruals and deferred income

8,476

8,476

433,762

352,749

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 2-5 years

202,834

130,000

Bank loans >5 yr (instalments)

19,481

51,894

Other loans - 2-5 years

88,000

200,000

Hire purchase contracts

-

10,609

310,315

392,503

Amounts falling due in more than five years:

Repayable by instalments

Bank loans >5 yr (instalments)

19,481

51,894