Bizbox Ltd - Period Ending 2017-03-31

Registration number: 10003009

Bizbox Ltd

Annual Report and Unaudited Financial Statements

for the Period from 12 February 2016 to 31 March 2017

 

Broadhead Accountants Limited

Bizbox Ltd
Contents

Company Information 1

Director's Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

Bizbox Ltd
Company Information

Director

Mr Sandeep Chimote

Registered office

Suite 402 Britannia House 1-11 Glenthorne Road London W6 0LH

Page 1

Bizbox Ltd
Director's Report for the Period from 12 February 2016 to 31 March 2017

The director presents his report and the unaudited financial statements for the period from 12 February 2016 to 31 March 2017.

Director of the company

The director who held office during the period was as follows:

Mr Sandeep Chimote (appointed 12 February 2016)

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 31 May 2017 and signed on its behalf by:

.........................................
Mr Sandeep Chimote
Director

Page 2

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
 Bizbox Ltdfor the Period Ended 31 March 2017

In order to assist you to fulfil your directors' duties under the Companies Act 2006, we have prepared for your review and approval the financial statements of Bizbox Ltd for the period ended 31 March 2017. These financial statements have been prepared from the company's accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to ethical and other professional requirements.

This report is made solely to the Board of Directors of Bizbox Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bizbox Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bizbox Ltd and its Board of Directors as a body for our work or for this report.

The acceptance of the financial statements and the directors' report by the directors indicates acceptance of our accountants' report too. Use of these financial statements by external parties indicates acknowledgement of these conditions and limitations.

 
  ......................................
  Broadhead Accountants Limited Chartered Accountants Suite 402 Britannia House 1-11 Glenthorne Road Hammersmith London W6 0LH
 
 
 

2 June 2017

Page 3

Bizbox Ltd
Profit and Loss Account for the Period from 12 February 2016 to 31 March 2017

		Note			12 February 2016 to 31 March 2017 £
Turnover					89,070
Cost of sales					(10,000)
Gross profit					79,070
Administrative expenses					(16,674)
Operating profit					62,396
Profit on ordinary activities before taxation					62,396
Tax on profit on ordinary activities		3			(12,479)
Profit for the financial period		8			49,917

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

Bizbox Ltd
(Registration number: 10003009)
Balance Sheet at 31 March 2017

		Note			31 March 2017 £
Current assets
Debtors		4			1,620
Cash at bank and in hand					33,238
					34,858
Creditors: Amounts falling due within one year		5			(29,841)
Net assets					5,017
Capital and reserves
Called up share capital		6			100
Profit and loss account		8			4,917
Shareholders' funds					5,017

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with FRS 102.

For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 31 May 2017

.........................................
Mr Sandeep Chimote
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

Bizbox Ltd
Notes to the Financial Statements for the Period from 12 February 2016 to 31 March 2017
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Director's remuneration

The director's remuneration for the period was as follows:

		12 February 2016 to 31 March 2017 £
Remuneration (including money purchase pension scheme contributions)		18,052

3

Taxation

Tax on profit on ordinary activities

		12 February 2016 to 31 March 2017 £
Current tax
Corporation tax charge		12,479

Page 6

Bizbox Ltd
Notes to the Financial Statements for the Period from 12 February 2016 to 31 March 2017
......... continued

4

Debtors

		31 March 2017 £
Trade debtors		1,620

5	Creditors: Amounts falling due within one year

		31 March 2017 £
Corporation tax		12,479
Other taxes and social security		1,881
Other creditors		15,481
		29,841

6	Share capital

Allotted, called up and fully paid shares

	31 March 2017
		No.			£
Ordinary share of £1 each		100			100

7

Dividends

		31 March 2017 £
Dividends paid
Current period interim dividend paid		45,000

Page 7

Bizbox Ltd
Notes to the Financial Statements for the Period from 12 February 2016 to 31 March 2017
......... continued

8

Reserves

		Profit and loss account £			Total £
Profit for the period		49,917			49,917
Dividends		(45,000)			(45,000)
At 31 March 2017		4,917			4,917

9	Pension schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £10,000.

Page 8