Service Box Ltd - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 10664393 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

SERVICE BOX GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J A Kedian

J C Pavey

J S Rooke

REGISTERED OFFICE:

Suite 11, Floor 1

Sheridan House

Western Road

Hove

BN3 1DD

REGISTERED NUMBER:

10664393 (England and Wales)

ACCOUNTANTS:

Chariot House Limited

Chartered Accountants

44 Grand Parade

Brighton

East Sussex

BN2 9QA

FIXED ASSETS

Tangible assets

3

8,246

5,056

CURRENT ASSETS

Debtors

4

1,438,384

1,486,574

Cash at bank and in hand

28,738

5,938

1,467,122

1,492,512

CREDITORS

Amounts falling due within one year

5

(1,845,546

)

(1,874,178

)

NET CURRENT LIABILITIES

(378,424

)

(381,666

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(370,178

)

(376,610

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(370,278

)

(376,710

)

SHAREHOLDERS' FUNDS

(370,178

)

(376,610

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 29 September 2023 and were signed on its behalf by:

J A Kedian - Director

1.	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 consideration, received or receivable, for services provided in the ordinary course of the company's activities.

Turnover excludes discounts, rebates and is shown net of value added tax and other sales taxes.

The company recognises the revenue from warranty sales evenly over the period of the warranty.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 16 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2021

57,136

Additions

4,602

At 30 September 2022

61,738

DEPRECIATION

At 1 October 2021

52,080

Charge for year

1,412

At 30 September 2022

53,492

NET BOOK VALUE

At 30 September 2022

8,246

At 30 September 2021

5,056

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

49,500

50,750

Other debtors

1,388,884

1,435,824

1,438,384

1,486,574

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,031,603

446,492

Taxation and social security

207,569

206,760

Other creditors

606,374

1,220,926

1,845,546

1,874,178

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100,000

Ordinary

£0.00

1

100

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2022 and 30 September 2021:

2022

2021

£

£

J S Rooke

Balance outstanding at start of year

1,676

1,676

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,676

1,676

J A Kedian

Balance outstanding at start of year

169,412

-

Amounts advanced

65,050

169,412

Amounts repaid

(247,400

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(12,938

)

169,412

8.	RELATED PARTY DISCLOSURES

Loans have been made to Surge Group PLC (the parent of Surge Financial Limited and a company under common control) and the balance owed to the company at 30 September 2022 is £648,144 (2021 - £561,594), the loans are interest free and repayable on demand.

Loans have been made to Infoconnection Limited (a company under common control) and the balance owed to the company at 30 September 2022 is £84,087 (2021 - £84,087), the loans are interest free and repayable on demand.

Loans have been made to Laines Financial Limited (a company owned by common directors) and the balance owed to the company at 30 September 2022 is £2,551(2021 - £3,800), the loans are interest free and repayable on demand.

Loans have been made to Aston Beckworth Limited (a company under common control) and the balance owed to the company at 30 September 2022 is £70,000 (2021 - £70,000), the loans are interest free and repayable on demand.

Loans have been made to WeWill Planning Limited (a company under common control) and the balance owed to the company at 30 September 2022 is £27,038 (2021 - £8,023), the loans are interest free and repayable on demand.

Loans have been made to Instrive Limited (a company under common control) and the balance owed to the company at 30 September 2022 is £nil (2021 - £22,000), the loans are interest free and repayable on demand.

Paul Careless (a beneficial owner) owes the company £222,741, the loan is interest free and repayable on demand.

Andra Careless (a beneficial owner) owes the company £167,300, the loan is interest free and repayable on demand.

Loans have been received from Surge Financial Limited (a company under common control) and the balance owed by the company at 30 September 2022 is £466,279 (2021 - £466,279) The loans are interest free and repayable on demand.

Loans have been received from View Property Group Limited (a company under common control) and the balance owed by the company at 30 September 2022 is £220 (2021 - £220) The loans are interest free and repayable on demand.

Loans have been received from Four Sixty Five Limited (a company under common control) and the balance owed by the company at 30 September 2022 is £2,500 (2021 - £nil) The loans are interest free and repayable on demand.