Inbox Projects Limited - Period Ending 2022-12-31

Inbox Projects Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Inbox Projects Limited

(Registration number: 11085020)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	24,344	634
Current assets
Stocks		40,220	-
Debtors	5	71,960	22,185
Cash at bank and in hand		375,301	190,155
		487,481	212,340
Creditors: Amounts falling due within one year	6	(251,101)	(45,908)
Net current assets		236,380	166,432
Total assets less current liabilities		260,724	167,066
Creditors: Amounts falling due after more than one year	6	(24,167)	(34,167)
Provisions for liabilities		(4,625)	(121)
Net assets		231,932	132,778
Capital and reserves
Called up share capital		100	100
Profit and loss account		231,832	132,678
Shareholders' funds		231,932	132,778

Inbox Projects Limited

(Registration number: 11085020)
Balance Sheet as at 31 December 2022

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the director on 19 September 2023
 

......................................... Mr G Carlon Director

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	25% straight line
Computer Equipment	25% straight line
Motor Vehicles	25% reducing balance

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2022	1,102	-	1,102
Additions	5,596	26,378	31,974
At 31 December 2022	6,698	26,378	33,076
Depreciation
At 1 January 2022	468	-	468
Charge for the year	1,671	6,593	8,264
At 31 December 2022	2,139	6,593	8,732
Carrying amount
At 31 December 2022	4,559	19,785	24,344
At 31 December 2021	634	-	634

Inbox Projects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Debtors

	2022 £	2021 £
Trade debtors	56,590	21,401
Other debtors	15,370	784
	71,960	22,185

6

Creditors

Creditors: amounts falling due within one year

		2022 £	2021 £
Due within one year
Other borrowings		10,000	10,000
Trade creditors		48,050	21,193
Taxation and social security		3,028	4,674
Other creditors		187,147	9,201
Amounts due to related parties		2,876	840
		251,101	45,908

Creditors: amounts falling due after more than one year

		2022 £	2021 £
Due after one year
Other borrowings		24,167	34,167