NU-BOX LIMITED 31/07/2018 iXBRL

Statement of consent to prepare abridged financial statements

All of the members of NU-BOX LIMITED have consented to the preparation of the abridged income statement and the abridged statement of financial position for the current year ending 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Company registration number: 4224174

NU-BOX LIMITED

Unaudited filleted abridged financial statements

31 July 2018

NU-BOX LIMITED

Contents

Abridged statement of financial position

Notes to the financial statements

NU-BOX LIMITED

Abridged statement of financial position

31 July 2018

		2018		2017
	Note	£	£	£	£

Fixed assets
Tangible assets	5	435,133		500,892
		_______		_______
			435,133		500,892

Current assets
Stocks		200,101		175,745
Debtors		264,009		209,191
Cash at bank and in hand		711,704		368,874
		_______		_______
		1,175,814		753,810
Creditors: amounts falling due
within one year		( 263,113)		( 169,145)
		_______		_______
Net current assets			912,701		584,665
			_______		_______
Total assets less current liabilities			1,347,834		1,085,557

Creditors: amounts falling due
after more than one year			( 10,678)		( 16,188)

Provisions for liabilities			( 63,866)		( 76,033)

			_______		_______
Net assets			1,273,290		993,336
			_______		_______

Capital and reserves
Called up share capital			30,000		30,000
Profit and loss account			1,243,290		963,336
			_______		_______
Shareholders funds			1,273,290		993,336
			_______		_______

For the year ending 31 July 2018 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 financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 12 November 2018 , and are signed on behalf of the board by:

Mr J S Battu

Director

Company registration number: 4224174

NU-BOX LIMITED

Notes to the financial statements

Year ended 31 July 2018

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 9a Leicester Road, Blaby, Leicester.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2017: 15 ).

5. Tangible assets


		£
	Cost
	At 1 August 2017	802,485
	Additions	9,933
		_______
	At 31 July 2018	812,418
		_______
	Depreciation
	At 1 August 2017	301,591
	Charge for the year	75,694
		_______
	At 31 July 2018	377,285
		_______
	Carrying amount
	At 31 July 2018	435,133
		_______
	At 31 July 2017	500,894
		_______

6. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2018
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr J S Battu	( 16,188)	5,510	( 10,678)
		_______	_______	_______

2017
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr J S Battu	( 43,223)	27,035	( 16,188)
		_______	_______	_______