Quickbox Manufacturing Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12308146 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Quickbox Manufacturing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Sellars

R T Green

G Sellars

REGISTERED OFFICE:

Lindum House

Beels Road

Stallingborough

Grimsby

N E Lincolnshire

DN41 8DN

REGISTERED NUMBER:

12308146 (England and Wales)

FIXED ASSETS

Tangible assets

4

269,438

236,618

CURRENT ASSETS

Stocks

18,256

43,099

Debtors

5

222,884

161,660

Cash at bank

19,733

12,481

260,873

217,240

CREDITORS

Amounts falling due within one year

6

313,183

295,825

NET CURRENT LIABILITIES

(52,310

)

(78,585

)

TOTAL ASSETS LESS CURRENT LIABILITIES

217,128

158,033

CREDITORS

Amounts falling due after more than one year

7

(43,621

)

-

PROVISIONS FOR LIABILITIES

(51,035

)

(20,580

)

NET ASSETS

122,472

137,453

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

13,077

13,077

Retained earnings

109,295

124,276

122,472

137,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 25 September 2023 and were signed on its behalf by:

B Sellars - Director

G Sellars - Director

R T Green - Director

1.	STATUTORY INFORMATION

Quickbox Manufacturing Limited 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2022

1,465

245,493

10,697

Additions

-

11,553

1,904

Disposals

-

(1,000

)

-

At 31 December 2022

1,465

256,046

12,601

DEPRECIATION

At 1 January 2022

413

35,332

2,525

Charge for year

220

37,240

1,752

Eliminated on disposal

-

(75

)

-

At 31 December 2022

633

72,497

4,277

NET BOOK VALUE

At 31 December 2022

832

183,549

8,324

At 31 December 2021

1,052

210,161

8,172

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2022

23,355

5,071

286,081

Additions

69,375

4,057

86,889

Disposals

-

-

(1,000

)

At 31 December 2022

92,730

9,128

371,970

DEPRECIATION

At 1 January 2022

9,342

1,851

49,463

Charge for year

12,084

1,848

53,144

Eliminated on disposal

-

-

(75

)

At 31 December 2022

21,426

3,699

102,532

NET BOOK VALUE

At 31 December 2022

71,304

5,429

269,438

At 31 December 2021

14,013

3,220

236,618

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

69,375

At 31 December 2022

69,375

DEPRECIATION

Charge for year

7,413

At 31 December 2022

7,413

NET BOOK VALUE

At 31 December 2022

61,962

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

180,657

149,670

Other debtors

42,227

11,990

222,884

161,660

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Hire purchase contracts

17,725

-

Trade creditors

136,000

108,547

Amounts owed to group undertakings

70,000

116,667

Taxation and social security

43,910

30,212

Other creditors

45,548

40,399

313,183

295,825

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Hire purchase contracts

43,621

-

8.	ULTIMATE CONTROLLING PARTY

The ultimate parent company and controlling party is Well Able Limited, a company incorporated in England and Wales.